Goldman CEO Solomon: We’re going to have more robust capital markets in 2025

Goldman Sachs CEO David Solomon said that Donald Trump’s policies should provide a boost to the already improving capital markets.

In a CNBC interview, Solomon said that he believes capital markets will continue to accelerate next year.

“We are seeing things in our business, and when I talk to clients, that indicate that after waiting for valuations to move and for time to pass, people are ready to be more active.”

U.S. bank stocks (NYSEARCA:KBE), (KBWB), (KRE) soared as Trump saw a clear path to election victory on the back of the promise of low regulation and de-regulation and taxes.

The S&P Bank ETF (KBE) is up 7.49% from a month ago, but down 1.73% from five days ago, and about 0.7% down today.

Goldman Sachs (GS) was up more than 13% on Wednesday after election day.

Solom also said the bank is seeing a pickup in its backlog. “We are seeing a pickup in activity, and I do think in 2025 we’re going to have more robust capital markets.”

He also said he has not talked directly to President-elect Trump, and that he was rooting for JPMorgan CEO Jamie Dimon to be picked for Treasury secretary. Trump has not yet picked a Treasury secretary but has ruled out Dimon for the job.

These are the top 10 financial stocks, rated by Seeking Alpha quant metrics:

• Wells Fargo & Co. (WFC) – Quant rating: 4.95
• The PNC Financial Services Group (PNC) – Quant rating: 4.92
• Third Coast Bancshares (TCBX) – Quant rating: 4.90
• Northeast Community Bancorp (NECB) – Quant rating: 4.89
• First Savings Financial Group (FSFG) – Quant rating: 4.89
• M&T Bank Corp. (MTB) – Quant rating: 4.88
• Unity Bancorp (UNTY) – Quant rating: 4.83
• Bank7 Corp. (BSVN) – Quant rating: 4.82
• QCR Holdings (QCRH) – Quant rating: 4.79
• First United Corp. (FUNC) – Quant rating: 4.77