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- Shares began to reflect the declining optimism surrounding the Trump Tax Plan
Shares began to reflect the declining optimism surrounding the Trump Tax Plan
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Loading...If we take into account the stock market as an indicator of the fate of the new tax laws in the US, the trade today signals that the prospects for the bills are bad.
As the debate on the specificities of the new proposals is heated, the shares that are considered the biggest winners after any tax cuts are traded lower. KBW bank index declined as much as September, while Russel 2000 headed for its worst day in three months. The Goldman Sachs stock portfolio, which tracks the most favored companies, fell 0.4 percent.
Goldman is of the opinion that the probability of tax cuts in the first quarter of 2018. is unlikely and is about 65%. If, however, the voters in the Senate come to an agreement that makes it clear that in 2018, there will be tax breaks, Goldman thinks the SP500 will be able to reach around $2610. This is not a serious growth, but we also have to take into account the fact that the indices have already reflected much of the news.
Source: Bloomberg Pro Terminal
Jr Trader Petar Milanov
Bloomberg: Stock Market Jitters Suggest Fading Optimism on Tax Cuts
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