What is pulling the stocks down?
Besides coronavirus, other news has been driving the stocks of Apple, Wallmart and General Motors to the lower levels.
Asian equities soar ahead of American tax plan
On Wednesday, Asian equities rallied because market participants actually hoped for progress on key tax reform in the US, while the evergreen buck hovered close to one-month maximums on ascending hopes for an American interest rate leap in December.
On Wednesday, the administration along with Republicans in Congress is due to outline a tax initiative. Well, if passed, it would be the first considerable legislative win for Donald Trump since taking office in January.
Furthermore, it would be a victory for Wall Street because corporate tax drops would potentially spur revenues, and a tax amnesty on offshore cash holdings could drive more buybacks, thus sharing values.
Financial experts told that the American tech space is going to be one to watch because it boasts mountains of cash, which could be brought back for the purpose of sharing dividends and buybacks.
On Tuesday, Wall Street concluded mostly intact, although the tech sector earned 0.4%, with Apple equities soaring 1.7% after four sessions of dips.
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Important events on February 17-21
Will coronavirus continue keeping the markets in fear? What releases should we wait for? Find out in the news!
TESLA needs more money
Tesla stock drops in premarket trades on Thursday. Why? See the article (it's short) and use it to your advantage.
Latest news
ZAR: an intriguing speech
The South African Finance Minister is delivering a budget speech today. There may be a strong impact on ZAR, so what's going to happen?
CAD: is Canadian GDP puzzled?
Canadian monthly GDP will be out at 15:30 MT time on Friday.
The assets wrap: the best, the worst, and the most volatile
Let’s consider the best and the worst-performing assets as Monday’s session kicks in.
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