Dow soars 200 points as chances of Senate tax bill passing increase with McCain support

CNBC (Coalition of Nazis, Bolsheviks and Commies) ^ | November 30, 207 | Fred Imbert

[Navy Patriot]

Stocks traded higher on Thursday as the Senate got closer to voting on a bill aimed at overhauling the U.S. tax code.

The Dow Jones industrial average rose 150 points, breaking above 24,000 for the first time, with Goldman Sachs leading advancers on the 30-stock index.

The S&P 500 reached an all-time high at the open, advancing 0.5 percent, with information technology and energy among the best-performing sectors.

[Navy Patriot]

Yeah, taxes effect economic growth.

[trebb]

Yep - and success with the good provisions might open the door for fixing some of those that have been exciting the concern trolls.....Trump leverages success better than any President I can remember.

[castlegreyskull]

Did the bill include war funds? That is the only way McCain supports anything.

[Robert A Cook PE]

This change may increase the pressure on McCain NOT to change his publicized decision. remember, he has not voted for passage. Yet.

In fact, he has not yet even voted to get it out of committee. Yet.

[jmaroneps37]

Over 250 now!

[LS]

1. PHX city council just voted to name a terminal (yes) at Sky Harbor for him. Unanimously.

2. AZ radio just announced he has a second tumor. May have something to do with this.

[SkyPilot]

The bubble continues.

Going to be one hell of a reckoning if it bursts.

[Navy Patriot]

From the article: But Jack Ablin, chief investment officer at BMO Private Bank, said lower corporate taxes may not help major as much as investors may think. "The effective tax rate among S&P 500 companies is already 26 percent. A 20 percent corporate tax rate would help, but it would not be as big a boon to large companies as it would be to small companies," he said.

This means that big corporations will get at least a 6% cut, but small businesses will receive a 15% cut, which should favor the middle class where most small business proprietorship is.

President Trump has not forgotten the middle class.

[Kaslin]

McCain to vote for Senate tax reform bill

Source

[cherry]

maybe the dow soared due to the second tumor?...

[NutsOnYew]

AZ radio just announced he has a second tumor.

Sorry to hear that. I don't like the guy, but I wish him luck in overcoming this.

Regarding the market, I suspect that the possibility of corporate tax cuts is behind the enthusiasm.

[Robert A Cook PE]

No, not really. Plot your graph again, but draw a near-straight line from 1961-1963 right through today’s high point.

It DOES track through the “Housing Bubble’s” crash into today’s growth.

The truly hollow market bubble was the Dot Com hype that inspired “everybody” to believe Bill Clinton was an economic genius - when it was Newt Gingrich’s republican restraints on spending and taxes in 1994-1998 that enabled to computer bubble’s hype to begin. Ignore that artificial jump, and today is right on the line it should be on for long-term growth.

Better yet, plot the price of gold and the price of oil since 1890. That will surprise you.

[wastedyears]

Taqiyya

He cannot be trusted.

[Deplorable American1776]

We need this tax cuts

[Grampa Dave]

More Soaring and more winning!: Dow over 300 points!

Dow soars 300 points as chances of Senate tax bill passing increase with McCain support.

The Dow and S&P 500 both hit all-time highs on Thursday.
Wall Street awaited a Senate vote on tax reform.

The Nasdaq composite tried to recover from sharp losses in the previous session.

[Lazamataz]

McCain will vote no.

You heard it here first.

[trebb]

President Trump has not forgotten the middle class.

He doesn't forget what got him into the WH - if only the GOPe/RINOs would give us the same consideration...

[Lazamataz]

2. AZ radio just announced [McCain] has a second tumor.

I'm crying like a poorly-swaddled baby.

But they are tears of joy.

[Lazamataz]

We need this tax cuts

We need this better grammers.

[Norseman]

Buy on the rumor; sell on the news?