Let the predictions begin for the stock market should President Trump not win re-election.
Higher corporate taxes and lower profits could be lurking in 2021 if former Vice President Joe Biden wins the presidency from President Trump, suggests strategists at Goldman Sachs. The billion-dollar question is whether markets would tank in the lead-up to signs a Biden presidency —and its era of higher taxes on businesses and households — is inevitable.
The U.S. stock market touched all-time highs in February just before COVID-19 took root in the U.S. — many on the Street would point to the tax cuts as the main driver of surging valuations. iQ Capital CEO Keith Bliss told Yahoo Finance’s The First Trade he is concerned about the prospect of higher taxes under Biden and how the “manufacturing renaissance” under Trump is kept alive by the former vice president. Ultimately, Bliss said the market is unlikely to start pricing in election risk until midway through the third quarter as debate season begins and Election Day comes more into focus.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
President Trump Will Now Allow Healthcare Providers to Deny Service to Transgender PeoplePresident Trump announced this during Pride month and on the anniversary of the Pulse nightclub shooting.
Read more »
President Donald Trump Tweetstorm – The Sunday EditionPresident Donald Trump, fresh off a Saturday address to the West Point Military Academy graduates, is celebrating his 74th birthday today, and the salutes are pouring in online. Today’s early…
Read more »
President Donald Trump Tweetstorm – The Saturday EditionPresident Trump is at West Point this morning, addressing the 2020 graduating class of the US Miltary Academy, marking the first time he has spoken to cadets there. But before he left, he fired off…
Read more »
Trump addresses West Point graduates after alumni slam president for politicizing militaryPresident Donald Trump's speech comes amid clashes with brass over military's role in protests.
Read more »
President Trump changes Tulsa rally date after controversy over Juneteenth choiceTrump said African American 'friends and supporters' suggested he change his Tulsa rally date out of respect for the Juneteenth holiday.
Read more »