The KUIK Morning Market Report for Tuesday, September 12:
Markets are up.
Index
Direction
Change
Units
Index
Time
Change
Dow Jones Industrial Average
Up
61
points
22,118
7:16 AM
S&P500
Up
0.2%
percent
2,492
4.21
Nasdaq Composite
Up
0.0%
percent
6,434
1.29
30 Year Treasury
Up
3
Basis Points
2.77
Annual Yield
President Trump want to cut the corporate tax rate to as low as 15% from a top rate of 35%, but Congress reportedly is looking to split the difference. Negotiations between the White House and Congress appear to be focusing on a rate closer to 23%, according to the Washington Post. Asked if a 15% goal was feasible, Treasury Secretary Steven Mnuchin said at a hedge-fund conference this morning said “I don’t know if we will be able to achieve that.” In the wake of the failure to terminate Obamacare, Trump and Republicans are looking to score a quick victory on tax cuts before year end. They want to reduce the corporate rate, help small businesses and offer some relief to middle-class Americans.
President Trump will visit China in November, according to Bloomberg. This would be the second summit between the two leaders. Chinese President Xi Jinping and Trump met for talks at Trump’s Mar-a-Lago estate in Palm Beach, Fla., in April. Reuters quoted a U.S. official saying that China would be one stop on a trip to Asia by the president.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
