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Tax Cut Fever Breaks in Stocks as Earnings Impact Is Studied

  • S&P 500 ends near a record as Trump outlines his proposal
  • Lower corporate taxes are bullish but what about interest?
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What to Expect From Trump's Tax Reform Plan

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A single-session celebration looked poised to fade in stocks following the release of Donald Trump’s tax overhaul, as questions lingered about its long-term impact on earnings.

“The proposal is very specific about the good stuff. It’s kind of nebulous about the bad,” said Brad McMillan, chief investment officer of Commonwealth Financial Network, which oversees $114 billion. “It’s a wonderful present to the market, but we’ve got to unwrap it to see what’s really in there.”