|Day's Range||2,659.14 - 2,679.63|
|52 Week Range||2,233.62 - 2,679.63|
Tax reform will be top of mind for investors as the economic and earnings schedule is quiet into the end of the week.
"The fact that those valuations are high doesn't mean that they're necessarily overvalued," Yellen said.
Businesses are getting a profit windfall from the Republican tax bill, but after this year’s stock market rally, the gains won’t make their shares look cheap.
The Dow Jones Industrial Average climbed to a fresh high Friday as investors bet that a tax-overhaul plan before Congress will pass, likely boosting profits for many U.S. companies.
Thank goodness for tax reform. While Americans are divided about the impact of tax reform, as they are about most things these days, other countries aren’t so conflicted. Most notably, China worries about the effect of the U.S. slashing its corporate tax rate from a statutory 35% currently to 21%, which reportedly was agreed to by House-Senate conferees.
Congressional Republicans on Friday unveiled the final version of their dramatic U.S. tax overhaul - debt-financed cuts for businesses, the wealthy and some middle-class Americans - and picked up crucial support from two wavering senators ahead of planned votes by lawmakers early next week. Prospects for approval soared after Republican senators Marco Rubio and Bob Corker pledged support. Three Republican senators, enough to defeat the measure in a Senate that Trump's party controls with a slim 52-48 majority, remained uncommitted: Susan Collins, Jeff Flake and Mike Lee.
Stocks finished the week at all-time highs as the Republicans in Congress inched closer to passing their tax reform bill. The Nasdaq Composite climbed 1.4% this week after jumped 1.2% to 6936.58 today.
Congress could give corporate America one giant gift-wrapped tax package next week, and that could help fuel an even higher-octane Santa rally in stocks.
By Stephanie Kelly NEW YORK (Reuters) - Shares gained worldwide on Friday and Wall Street notched closing record highs on U.S. tax legislation optimism, while the U.S. yield curve turned its flattest in ...
Wall Street capped the week with broad gains, propelling the major stock indexes to a new set of milestones Friday.
Shares gained worldwide on Friday and Wall Street notched closing record highs on U.S. tax legislation optimism, while the U.S. yield curve turned its flattest in a decade after the Federal Reserve hiked ...
When volatility is already very low, equity valuations high, monetary policy on a tightening path and lots of geopolitical uncertainty, it is only logical to expect more pullbacks along the way.