Excerpt from MarketWatch quoting DataTrek’s Nick Colas:
…. “We have always been of the opinion that markets never believed President Trump’s corporate tax cuts would be permanent. Raising them to the old levels would therefore not change our bullish outlook,” said Nicholas Colas, co-founder of DataTrek Research, in a note.
“Changes in individual tax rates, especially those related to capital gains, are another matter. Given the outstanding gains of the last few years, especially in speculative tech stocks, changes in cap gains would certainly cause taxable account selling with no near-term offset in demand,” he wrote”…
Read the full article here on MarketWatch!