Traders at the New York Stock Exchange loudly cheered Friday as news broke of White House chief strategist Steve Bannon’s departure – a move that sent sinking stocks bouncing back.

After struggling all day, the S&P 500, Dow Jones industrial average and NASDAQ began trading higher following an Axios report that Bannon was expected to be canned as a top adviser to President Trump.

Stockbrokers can be heard wildly applauding and whistling at the news on a clip on CNBC.

All three major indexes slipped Thursday and traded lower on Friday amid concerns that Gary Cohn, Trump’s chief economic adviser, might quit.

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