Saturday, 16 December 2017

Markets mixed amid uncertainty on US tax reform

Markets were mixed on Friday.

The S&P 500 rose 0.9 percent to close at another record high but the STOXX Europe 600 fell 0.2 percent and the Nikkei 225 fell 0.6 percent.

Jasper Lawler, head of research at London Capital Group, wrote in a note that dip-buyers “failed to materialize, fearing the ticking clock on U.S. tax reform”.

Other analysts are optimistic.

“There is definitely a momentum in the market thanks to the prospect of tax cuts, but let’s not forget that the economic growth is also pretty good and has been supporting the market all year,” said Kim Caughey Forrest, senior analyst and portfolio manager at Fort Pitt Capital Group.

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