Here’s Why GoPro, Oasis, JPMorgan, and Two Other Stocks Are in Spotlight Today

Morgan Stanley (NYSE:MS), JPMorgan Chase & Co. (NYSE:JPM), and Wells Fargo & Co (NYSE:WFC) are each well in the green as traders hit the buy button in anticipation that a Trump administration will roll back some of the stricter regulations concerning Wall Street and banking.

Specifically, seeing as Trump previously said that ‘Dodd-Frank has made it impossible for bankers to function,’ and that the law ‘makes it very hard for bankers to loan money for people to create jobs, for people with businesses to create jobs. And that has to stop’, it seems that Dodd-Frank’s days are rather numbered, especially given the fact that the Republicans control both the House of Representatives and the Senate. Less regulation could lead to lower costs and fatter margins for the three banks.

According to our database of around 749 funds, 88 funds held shares of Wells Fargo & Co (NYSE:WFC) and 99 investors reported stakes in JPMorgan Chase & Co. (NYSE:JPM). Given its smaller size, 49 funds owned shares of Morgan Stanley (NYSE:MS) at the end of June, down by three funds from the previous quarter.

Disclosure: none