new york (reuters) – the new york stock exchange ended little changed on friday, constrained by fears of a postponement until 2019 reductions in taxes on business as promised by donald trump.
the dow jones industrial average gave 39,73 points, or 0.17% in 23.422,21.
the s & p 500, more lost 2.32 points, or 0.09%, 2.582,30.
the nasdaq composite was made in green on a gain of 0.89 points, or 0.01% 6.750,94.
for the week, three indicators are in decline. the dow is down 0.5% and the s & p 500 0.21%, the first decline after 8 weeks of consecutive weekly increase. the nasdaq dropped to 0.2%, after rising for six straight weeks.
the tax cuts promised by the president of the united states has been one of the main engines of the rise of the new york stock exchange since his election a year ago. the s & p 500 has won more than 20 per cent since that date.
senate republicans have made their own tax reform plan, which provides, inter alia, to postpone by one year, to 2019, the reduction in the corporate tax rate in the united states.
with the approval of donald trump, republicans in the house of representatives had previously proposed to reduce by 2018, from 35% to 20% of the corporate income tax rate, while opening the door to a phased in approach.
the differences between the two houses of congress are likely to complicate the adoption of a reform that the administration’s most ambitious since the as introduced by ronald reagan in the 1980s, and that the republicans were announced for the end of the year.
“when the season is coming to an end, it results from the mouth, in order to focus on the macro, in this case, the tax reform,” says art hogan, head of investment strategy at wunderlich securities.
“the fears stoked by the differences between the versions of the tax reform of the house of representatives and the senate are the consolidation of the market. it’s time to be tight enough to reform, and i think this will be an event in the first quarter.
the energy sector is 0.81%.
six of the 11 components of the s & p 500 ended up in the red.
in the wake of the fall in oil prices, the energy values at the rear end with a drop of 0.81%. exxon has lost 0.31% – 0.05%. schlumberger and halliburton dropped 0.95%).
the profits are expected to rise by 8% on average compared to the third quarter of 2016, with a projected growth of 5.9% in early october, according to thomson reuters i / b / e / s
the values, walt disney was 2.04%, the second best performance of the dow, behind general motors (+ 2.5%). if the results of the group issued thursday night down, these were offset by a fourth trilogy “star wars”, one of the most lucrative franchise group.
intel, however, gave up 1.55%, with the highest decline in the dow and apple was 0.33%.
the semiconductor manufacturer is sold nvidia 5.27% and reached an all-time high after a better than expected quarterly earnings, with a demand for chips used in personal computers and graphics for the games online.
jc penney increased 15.27% after reporting to sales growth, similar to area two times its own forecasts for the quarter to the end of october.
macy was 4.54% and 2.46%, and kohls department has reduced its losses to finish the balance. the group of department stores reported a quarterly sales below expectations. the compartment goods has completed on a discretionary de0,34 gain
(tanya agrawal, catherine mallebay – vacqueur for service in french).
copyright & copy;, thomson reuters
Translated by forexguides.info Team