Trump’s Wall Street Embrace Powers Banks En Route to Dow 20,000

(Bloomberg) -- With the Dow Jones Industrial Average on the cusp of completing its fastest trip between 1,000 point milestones, two bank stocks whose market value has increased by $76 billion since Donald Trump’s election stand out as the engine behind the surge.

Goldman Sachs Group Inc. and JPMorgan Chase & Co., the best performers since the Nov. 8 vote with gains exceeding 20 percent, account for roughly one-third of the 1,578-point increase in the 120-year-old gauge. The 30-member gauge closed Tuesday within 0.5 percent of 20,000 less than a month after it broke through 19,000.

* The Dow closed at a record for a seventh straight day, extending its gain since the election to 8.6 percent.
* All but five members in the gauge have climbed since Nov. 8, with eight jumping more than 10 percent.
* Other leaders include Caterpillar Inc., UnitedHealth Group Inc., Travelers Cos. and Walt Disney Co.

For more stories on the Trump rally:
A Fast Thousand Points on the Dow Just Isn’t What It Used to Be
Trump Bull Market Bounty Tops $1 Trillion as Bear Case Mutes (1)

To contact the reporter on this story: Lu Wang in New York at lwang8@bloomberg.net. To contact the editors responsible for this story: Arie Shapira at ashapira3@bloomberg.net, Jeremy Herron