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Wall Street eyes 2018 gains

The drop in the corporate tax rate in 2018, to 21% from 35%, is seen by many as the biggest factor for the stock market next year

Sinead Carew | Reuters 

Wall Street's response to the Fed's tapering plan has so far been muted as a weaker dollar spurs optimism about developing-world assets	 photo: reuters

US are expected to keep rising in 2018 because a massive drop in the corporate tax rate is seen boosting the economy and corporate profits, but strategists say sizable gains could either be short-lived or elusive. The bull is on track to mark its ninth birthday in March, with the S&P 500 climbing 20 per cent for 2017 — its biggest increase since 2013.

The drop in the corporate tax rate in 2018, to 21 per cent from 35 per cent, is seen by many as the biggest factor for the stock next year. Yet, Many on cite potential pitfalls even though they see no signs of a recession.

First Published: Sun, December 31 2017. 01:02 IST
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