Wall Street is loving Donald Trump right now (JPM, C, BAC, GS)

Wall Street is loving Donald Trump right now.On Friday afternoon, President Trump ordered a review of the 2010 financial regulatory law Dodd-Frank and directedthe Secretary of Labor to reviewthe fiduciary rule, a regulation set to go into effect in April. Bank stocks are rallying hard.Congress passed Dodd-Frank in the wake of the 2008-09 financial crisis in sweeping reforms that changed how banks could do business.The president has previously derided Dodd-Frankas "a disaster" and promised to "do a big number" on the law.The fiduciary rulewould set in place, universally and for the first time, a requirement for financial advisers' to act in their client's best interests when overseeing retirement money. You can read more about the intricacies of the rule here.It's not surprising that financialsare rallying in light of Trump'sexecutive orders. Here's the scorebord as of 2:25pm EST:Goldman Sachs GS+3.77%JPMorganJPM+2.65%Bank of America BAC+2.38%CitigroupC+2.95%SEE ALSO:Trump just signed an order that could roll back a rule intended to protect Main Street's retirement moneyJoin the conversation about this storyNOW WATCH: Here's how to use one of the many apps to buy and trade bitcoin
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