Tech Rally Burns Out, Leaves Wall Street Lower
- 6 years ago
Tech Rally Burns Out, Leaves Wall Street Lower
Lindsey Bell said that Sentiment still remains that tax reform will get done
and we will get a 20 percent tax rate, and that will boost earnings significantly,
(Reuters) - Wall Street fell on Tuesday as a technology rebound lost steam
and Walt Disney Co shares dipped, while investors assessed how a Republican U. S. tax overhaul would impact corporate earnings.
That put Senate Republicans on a collision course with Republicans in the U. S. House of Representatives, whose own tax bill repealed the corporate AMT
and who are already calling for the tax to be eliminated in the final legislation.
Such a tax rate cut could boost S&P 500 earnings next year by an extra 9 percent, Bell said.
The year’s top-performing sector was still down nearly 4 percent over the past week, with investors shifting money to banks, retailers
and other stocks seen as likely to benefit the most from tax cuts promised by U. S. President Donald Trump.
Lindsey Bell said that Sentiment still remains that tax reform will get done
and we will get a 20 percent tax rate, and that will boost earnings significantly,
(Reuters) - Wall Street fell on Tuesday as a technology rebound lost steam
and Walt Disney Co shares dipped, while investors assessed how a Republican U. S. tax overhaul would impact corporate earnings.
That put Senate Republicans on a collision course with Republicans in the U. S. House of Representatives, whose own tax bill repealed the corporate AMT
and who are already calling for the tax to be eliminated in the final legislation.
Such a tax rate cut could boost S&P 500 earnings next year by an extra 9 percent, Bell said.
The year’s top-performing sector was still down nearly 4 percent over the past week, with investors shifting money to banks, retailers
and other stocks seen as likely to benefit the most from tax cuts promised by U. S. President Donald Trump.