Stock traders don't seem to care about Trump's tax plan
REUTERS/Aaron P. Bernstein
A 50-company basket of highly taxed companies maintained by Goldman Sachs pared gains following the announcement, now up 0.4% for the day.
The lack of enthusiasm for the index stands in contrast to the months following the presidential election, when it ripped as much as 14% higher through the end of February.
The muted reaction was mirrored more broadly by the S&P 500, which also fell from pre-tax plan levels after a short-lived spike up near an intraday high. The benchmark rose 0.2% as of 2:25 p.m. ET.
Now that an update on Trump's tax plan has failed to further ignite a stock market yearning for progress, investors must now reassess the areas that have gained the most on expectations of bullish policy.
- I spent 2 weeks in India. A highlight was visiting a small mountain town so beautiful it didn't seem real.
- I quit McKinsey after 1.5 years. I was making over $200k but my mental health was shattered.
- Some Tesla factory workers realized they were laid off when security scanned their badges and sent them back on shuttles, sources say
- World Liver Day 2024: 10 Foods that are necessary for a healthy liver
- Essential tips for effortlessly renewing your bike insurance policy in 2024
- Indian Railways to break record with 9,111 trips to meet travel demand this summer, nearly 3,000 more than in 2023
- India's exports to China, UAE, Russia, Singapore rose in 2023-24
- A case for investing in Government securities