Markets Rise on Tax Overhaul Optimism -
By PRASHANT S. RAOAPRIL 25, 2017
Stock markets in the United States rose Tuesday morning, buoyed by optimism over far-reaching tax changes
that President Trump’s administration is expected to propose in the coming days.
The Nasdaq composite index rose above 6,000 for the first time, while the Dow Jones industrial average
and the Standard & Poor’s 500-stock index also opened sharply higher.
In recent days, however, Mr. Trump has instructed his staff to focus on cutting the corporate tax rate to 15
percent as part of tax changes to be unveiled this week, according to people with knowledge of his plans.
Stock markets have risen steadily in the months since Mr. Trump’s election, based on expectations of deregulation
and business-friendly policies supporting economic growth.
In morning trading on Tuesday, the Nasdaq composite index rose as much as 0.6 percent, to a high of 6,022.58.
Although tax overhaul was a major plank of the president’s campaign,
that effort has taken a back seat in recent months over concerns it would expand the budget deficit and face congressional backlash.