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TRENDING TAGS
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- Sarah ten Siethoff is New Associate Director of SEC Investment Management Rulemaking Office
- Catherine Keating Appointed CEO of BNY Mellon Wealth Management
- Credit Suisse to Pay $47Mn to Resolve DOJ Asia Probe
- SEC Chair Clayton Goes 'Hat in Hand' Before Congress on 2019 Budget Request
- SEC's Opening Remarks to the Elder Justice Coordinating Council
- Massachusetts Jury Convicts CA Attorney of Securities Fraud
- Deutsche Bank Says 3 Senior Investment Bankers to Leave Firm
- World’s Biggest Hedge Fund Reportedly ‘Bearish On Financial Assets’
- SEC Fines Constant Contact, Popular Email Marketer, for Overstating Subscriber Numbers
- SocGen Agrees to Pay $1.3 Billion to End Libya, Libor Probes
- Cryptocurrency Exchange Bitfinex Briefly Halts Trading After Cyber Attack
- SEC Names Valerie Szczepanik Senior Advisor for Digital Assets and Innovation
- SEC Modernizes Delivery of Fund Reports, Seeks Public Feedback on Improving Fund Disclosure
- NYSE Says SEC Plan to Limit Exchange Rebates Would Hurt Investors
- Deutsche Bank faces another challenge with Fed stress test
- Former JPMorgan Broker Files racial discrimination suit against company
- $3.3Mn Winning Bid for Lunch with Warren Buffett
- Julie Erhardt is SEC's New Acting Chief Risk Officer
- Chyhe Becker is SEC's New Acting Chief Economist, Acting Director of Economic and Risk Analysis Division
- Getting a Handle on Virtual Currencies - FINRA
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It's 20% or 10-15%
[Photo: Bull and Bear at Frankfurt Stock Exchange]
Buy on the rumor, Sell on the news. - - Stock Market Adage based on the belief that stock prices move in anticipation of rumors and rebound when profit-taking occurs after the actual news is released.
[CNBC] The stock market has run up in price based in part on the expectation (rumor) that Donald Trump and the Republican congress will be able to push through a 20% corporate tax rate – down from its current level of 35%. For the record, Trump has promised to reduce the rate to 15%.
However, pundits say there could be trouble if those cuts don't get done. Trouble in the form of a 10-15% correction.
Chief investment officers (CIOs) throughout Wall Street are preparing clients for such a scenario. Not to mention the belief that a correction becomes more probable as the stock market continues its unexpected upward spiral. And the market declines over the past 2 days have not deterred the many forecasters who predict the bull market will continue indefinitely.
