Congress can make up it’s mind on tax reform pushing stocks down

Wall Street was on track to open lower on Monday, adding to last week’s losses on rising uncertainty over a U.S. tax reform deal.

Senate Republicans have unveiled a new tax plan that differs from the House of Representatives’ version and there are few signs of a compromise.

Hopes of lower taxes, one of President Donald Trump’s main campaign promises, have helped drive the S&P 500 up 20 percent since the 2016 presidential election.

“We’re entering a period of uncertainty, until the tax bill is either passed or till we have more details,” said Peter Cardillo, chief market economist at First Standard Financial in New York.

Full Article: Wall Street set to open lower on tax reform uncertainty 5 minutes ago

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