Goldman, Citi shares rise on hopes of less tax, regulation under Trump (GS, C)

Shares of U.S. banks including Citigroup Inc., JPMorgan Chase & Co. and Goldman Sachs Group Inc. rose in pre-market trading as investors bet that Donald Trump would deliver on his promises to lower taxes and reduce regulation for the industry.

During the campaign, Trump promised to cut the corporate tax rate to as low as 15% from 21% and to eliminate 10 regulations for each new one – offering a more attractive environment for banks than his rival Kamala Harris, who had planned to raise corporate taxes.