The KUIK Closing Market Report for Thursday, November 9:
Markets were down.
Index
Direction
Change
Units
Index
Time
Change
Dow
Down
(101)
points
23,462
2:43 PM
S&P500
Down
-0.4%
percent
2,585
(0.49)
Nasdaq Composite
Down
-0.6%
percent
6,750
30 Year Treasury
Up
2
basis points
2.81
Annual Yield
Stocks had their worst session in two weeks on fears that tax cuts would be delayed. The Senate Finance Committee released its version of a tax plan that would defer implementing a 20% corporate tax cut until 2019, instead of next year, as proposed by House Republicans. But the House Ways and Committee passed the Republican bill which proposes cutting corporate taxes to 20% from 35%, repeals the estate tax over time, and revises the existing seven tax brackets into four. The bill will move to the House floor for a vote, possibly as soon as next week.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
