Here's your Forbes Daily Briefing for Tuesday, November 12th.

Today on Forbes, Wall Street looks forward to less regulation and higher profits.

Investors celebrated Donald Trump's decisive victory in last week's presidential election,

with banks and alternative investing firms among the biggest winners in

anticipation of more lenient regulations. Goldman Sachs soared 12% in the last three days of the

week, and peers like J.P. Morgan, Citigr, Morgan Stanley, and Bank of America, as well as private

equity giants, KKR and Apollo, all gained at least 7%.

The rally extended to smaller banks, with the KBW Regional Banking Index up 10% in that span,

as financials helped propel the S&P 500 index's 3.7% gain in the final three days of the week

to a new record high. The reaction was a show of exaltation

and hopefulness that Trump will fill out his cabinet with the Treasury Secretary sympathetic to Wall

Street and replace stricter regulations at agencies like the Securities and Exchange Commission

and the Federal Trade Commission. Trump's win, along with a probable Republican Congress,

once all the votes are counted in close house races, also makes it more likely that the generous

corporate tax cuts he enacted during his first term will be extended when they expire at the

end of next year. Stephen Biggar, director of financial institutions Research at Argus, says, quote,

it's a fairly heavily regulated industry, and to the extent you get the government off your

back a little bit, it's going to be positive.

Bank regulations have been tightened significantly around the world since the global financial

crisis, part of a framework put in place by the Basel Committee on Banking

supervision in an effort to reduce the risk of insolvency and bank failures.

The so-called Basel 3 Endgame rules, scheduled to take effect next summer, initially

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