Shortly after the opening bell, we will be selling 150 shares of Morgan Stanley at roughly $128.81 and 240 shares of Wells Fargo at roughly $71.02. Following the trades, Jim Cramer's Charitable Trust will own 750 shares of MS, decreasing its weighting to roughly 2.5% from 3.06% and 2,100 shares of WFC, decreasing its weighting to roughly 3.86% from 4.33%. U.S. stock futures surged Wednesday after Republican nominee Donald Trump was elected president, according to NBC News projections .
That's very positive for the future earnings of investment banks like Morgan Stanley and Goldman Sachs . There's also an assumption that the Tax Cuts and Jobs Act of 2017 will be renewed, and this legislation — enacted during Trump's first term — was very bank-friendly. This all amounts to a great setup for the banks, but we are sellers into Wednesday's strength because these moves look a little too far, too fast.