$DIA, $SPY, $QQQ, $RUTX, $VXX
Wall Street finished higher on the strength in growth and value stocks
President Trump met with economic aides Wednesday to discuss the possibility of cutting the tax on capital gains by indexing them to inflation
His advisers updated on the issue, and a final decision on whether to pursue the policy is not yet known. President Trump said last month that cutting capital gains would be perceived as “somewhat elitist” as it would benefit the wealthy.
Indexing capital gains would slash tax bills for investors when selling assets such as stock or real estate by adjusting the original purchase price so no tax is paid on appreciation tied to inflation.
Revamping capital gains taxes through a rule or executive order likely would face legal challenges. White House officials had indicated they had hoped to advance a plan on capital gains taxes soon.
The market likes the idea.
Wednesday, the major US stock market indexes finished at: DJIA +227.61 at 27137.02, NAS Comp +85.52 at 8169.71, S&P 500 +21.54 at 3000.93
Volume: Trade on the NYSE came in at 849-M/shares exchanged
- NAS Comp +23.1% YTD
- S&P 500 +19.7% YTD
- DJIA +16.3% YTD
- Russell 2000 +16.8%
HeffX-LTN’s overall technical outlook for the major US stock market indexes is Bullish to Very Bullish in here.
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