The stock market reaches record levels after the Senate approves the tax bill – tech2.org

The stock market reaches record levels after the Senate approves the tax bill



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US stocks rose to record highs on Monday morning: the first day of operations after the Senate at dawn last Saturday approved its tax review law.

The Dow Jones industrial average rose 275 points at 10:15 a. M., At 45 minutes on the trading day, at 24,507.17 – a gain of 1.1 percent. The S & P 500 rose 17 points, or 0.7 percent, to 2,659.22.

Both indices had reached record highs at the beginning of the session.

The Nasdaq was trading slightly lower at 6,831.04, down 16.65.

"Investors this week will see progress between the joint bill of the House and the Senate," Nicholas Colas, co-founder of DataTrek Research, told CNBC. "Both chambers have yet to reconcile the differences between their bills, such as implementing corporate tax cuts immediately or by 2019."

Investors also seemed encouraged by CVS Health's agreement to buy Aetna for $ 69 billion, or $ 207 per share. The agreement, which could reshape the health insurance / health care sector, could also trigger further consolidation between CVS and Aetna's rivals.

Meanwhile, the dollar jumped against the currencies of most other developed and emerging nations, while Treasury yields went up. [19659002] European shares rose more than 1 percent on average, with German stocks churning up 1.4 percent, in anticipation of a strong day on Wall Street.

"With this fiscal agreement, the markets could pick up speed at the end of the," said Angelo Meda, head of shares of badet manager Banor SIM in Milan, while forecasting capital gains of 3 to 4 percent. "It seems that the ingredients for a year-end rally are there."

President Trump's push for tax cuts has given an additional boost to US stocks in recent weeks, with the popular indexes registering successive record levels.

JPMorgan iussed a report that forecasts an 8 percent increase in profits for US companies. UU if the revision of the taxes results in the rates being reduced from 35 percent to 20 percent.

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