The Trump Rally Resumes on Tax Cut Outlook
$DIA, $SPY, $QQQ, $VXX
US President Donald Trump’s signaled Monday that his focus for now is on significantly cutting tax rates.
President Trump directed aides to move quickly on a plan to cut the corporate income tax rate to 15% from 35%, a Trump Administration official said Monday.
29 April marks President Trump’s 100th day in office, he has made terrific progress in that “artificial” frame, and the friancial market are the best indicators of his progress, healthcare reform is coming as is tax reform, and his executive orders are unraveling all of the anti-business efforts of the progressive Hussein Obama Admin bit by bit. Plus his Red Lines are just that, so those who cross them are at extreme risk.
The “big tax reform and tax reduction” announcement is expected Wednesday.
Some say this may consist of a proposal to cut the corporate rate to 15%, cap the individual tax rate at 33%, repeal the estate and alternative minimum taxes and cut taxes for the middle class.
President Trump vowed to oversee the biggest “tax reform” since President Ronald Reagan’s in Y 1986. Expect that he will get it done.
The announcement could show that President Trump is turning away from a Republican plan backed by House of Representatives Speaker Paul Ryan that would pay for tax cuts with an import tax and by killing a business interest deduction.
Speaker Ryan and other Republicans will get a preview of our President’s plan Tuesday at a Capitol Hill meeting with Treasury Secretary Steven Mnuchin and Gary Cohn, director of President Trump’s National Economic Council.
Congress will return from its Spring recess Tuesday, they will go at it to pass a new spending bill and keep the government funded.
Traders are ignoring the anti-Trump media Noise and looking at the Big Picture, and it is clear the market is exhibiting some political happiness both at home and abroad in France.
Monday, the major US stock market indexes finished at: DJIA +216.13 at 20763.89, NAS Comp +73.30 at 5983.81, S&P 500 +25.46 at 2374.15
Volume: Trade was heavy on the NYSE, with 1.09-B/shares were exchanged.
- NAS Comp +11.2% YTD
- S&P 500 +6.0% YTD
- DJIA +5.1% YTD
- Russell 2000 +3.0% YTD
|HeffX-LTN Analysis for DIA:||Overall||Short||Intermediate||Long|
|Neutral (0.12)||Neutral (-0.17)||Bullish (0.29)||Bullish (0.25)|
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|Bullish (0.29)||Neutral (0.15)||Bullish (0.40)||Bullish (0.33)|
|HeffX-LTN Analysis for VXX:||Overall||Short||Intermediate||Long|
|Bearish (-0.36)||Bearish (-0.35)||Bearish (-0.40)||Bearish (-0.33)|