A Century of Data Show Markets Far From Impervious to Tax Hikes

Bloomberg2021-04-05

Higher corporate, individual rates have dented returns: BTIG JPMorgan warns of declines for beneficiaries of 2017 cuts The prospect of tax hikes may not have derailed gains in U.S. stocks yet, but ...

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Comments

Lewis1983
2021-04-05
Lewis1983
[微笑]
Retxed183
2021-04-05
Retxed183
Missionnnnnn coinnnnn
- MochiMama:
  like and comment thanks
HUATkueh
2021-04-05
HUATkueh
Ok
EddyAng
2021-04-05
EddyAng
please like and comment
- ToTheMOON:
  Ok
- Alvinlsm:
  Sure
张家二少爷
2021-04-05
张家二少爷
Pls give me some response
- 张家二少爷:
  oh no
- Jeffinity:
  Hi pls reply back thanks
- Joker_Smile:
  done. response back too
- EddyAngReplyJoker_Smile:
  Please response back
- Joker_SmileReplyEddyAng:
  ok
Jeffinity
2021-04-05
Jeffinity
Please comment and reply thanks
- ehilrsy:
  Hi
- 哇干打:
  Done !
- ChenJing4826:
  Hi

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coinnnnn","listText":"Missionnnnnn coinnnnn","text":"Missionnnnnn coinnnnn","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/349215383","repostId":1194612605,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3961928,"gmtCreate":1617618237934,"gmtModify":1680782925549,"authorId":3579166997546108,"author":{"id":3579166997546108,"idStr":"3579166997546108","authorId":3579166997546108,"name":"MochiMama","avatar":"https://static.tigerbbs.com/b02cba851ffc5d8be520010c7a579eb4","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":349215383,"type":1,"supId":0,"prevId":0,"content":"like and comment thanks","text":"like and comment thanks","html":"like and comment thanks"}],"langContent":"EN"},{"id":349219572,"gmtCreate":1617614588796,"gmtModify":1704700852301,"author":{"id":"3572312712757258","authorId":"3572312712757258","name":"HUATkueh","avatar":"https://static.tigerbbs.com/936c7c3c568dece3e2a6ae1a4510ab73","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3572312712757258","authorIdStr":"3572312712757258"},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/349219572","repostId":1194612605,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":349292648,"gmtCreate":1617613612484,"gmtModify":1704700831484,"author":{"id":"3573172201528943","authorId":"3573172201528943","name":"EddyAng","avatar":"https://static.tigerbbs.com/ff92cec8e8c5cef32f390c8687242f26","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3573172201528943","authorIdStr":"3573172201528943"},"htmlText":"please like and comment","listText":"please like and comment","text":"please like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/349292648","repostId":1194612605,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3961535,"gmtCreate":1617614256865,"gmtModify":1680782918861,"authorId":3576212227172632,"author":{"id":3576212227172632,"idStr":"3576212227172632","authorId":3576212227172632,"name":"ToTheMOON","avatar":"https://static.tigerbbs.com/7769f4b8d26aa1903d8784e79b05b4df","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":349292648,"type":1,"supId":0,"prevId":0,"content":"Ok","text":"Ok","html":"Ok"},{"id":3961446,"gmtCreate":1617613626776,"gmtModify":1680782917509,"authorId":3555205227101964,"author":{"id":3555205227101964,"idStr":"3555205227101964","authorId":3555205227101964,"name":"Alvinlsm","avatar":"https://static.tigerbbs.com/dcf5a2c527c5396558784b0c1c3cd9eb","vip":1,"crmLevel":6,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":349292648,"type":1,"supId":0,"prevId":0,"content":"Sure","text":"Sure","html":"Sure"}],"langContent":"EN"},{"id":349291519,"gmtCreate":1617613453231,"gmtModify":1704700828084,"author":{"id":"3578640057424295","authorId":"3578640057424295","name":"张家二少爷","avatar":"https://community-static.tradeup.com/news/7a12bca4ab5f122bdf3f13efcca1ec27","vip":1,"hat":"https://static.tigerbbs.com/b0a2963eb37c60c5d6d4a8dbcd266952","crmLevel":6,"crmLevelSwitch":1,"idStr":"3578640057424295","authorIdStr":"3578640057424295"},"htmlText":"Pls give me some response","listText":"Pls give me some response","text":"Pls give me some response","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":5,"repostSize":0,"link":"https://ttm.financial/post/349291519","repostId":1194612605,"repostType":4,"repost":{"id":"1194612605","pubTimestamp":1617612726,"share":"https://ttm.financial/m/news/1194612605?lang=&edition=fundamental","pubTime":"2021-04-05 16:52","market":"us","language":"en","title":"A Century of Data Show Markets Far From Impervious to Tax Hikes","url":"https://stock-news.laohu8.com/highlight/detail?id=1194612605","media":"Bloomberg","summary":"Higher corporate, individual rates have dented returns: BTIG\nJPMorgan warns of declines for benefici","content":"<ul>\n <li>Higher corporate, individual rates have dented returns: BTIG</li>\n <li>JPMorgan warns of declines for beneficiaries of 2017 cuts</li>\n</ul>\n<p>The prospect of tax hikes may not have derailed gains in U.S. stocks yet, but 100 years of data say the market is far from impervious to them.</p>\n<p>Stocks can take a hit when rates rise on corporations and individuals, according to Julian Emanuel, chief equity and derivatives strategist at BTIG LLC. He sees 13 such instances, most recently in 1993. The average return on the U.S. benchmark index in the years of the combined hikes is 2.4%, and drops to -0.9% for the year following. That compares with a long-run annual average of 7.7%, Emanuel notes.</p>\n<p>“‘Common wisdom’ has it that equities are indifferent to tax hikes,” Emanuel wrote. “They aren’t.”</p>\n<p>U.S. President Joe Biden’s $2.25 trillion infrastructure-centered plan&nbsp;includes tax hikes&nbsp;that, among other things, would boost the corporate rate to 28% from 21%. It doesn’t include raising taxes on the wealthy, though such a proposal is likely in another related&nbsp;package. So far equities haven’t seemed to mind much, with the S&amp;P 500 Index breaching 4,000 for the first time Thursday. Thin Democratic majorities in both the House and Senate means the proposal could struggle against&nbsp;Republican opposition.</p>\n<p><img src=\"https://static.tigerbbs.com/48bffde16640d0418b91508c3fe15e83\" tg-width=\"930\" tg-height=\"523\"></p>\n<p>The broad stock-market impact from the infrastructure plan as it stands looks modest to the likes of Goldman Sachs Group Inc. Chief equity strategist David Kostin estimated in mid-March that the proposed corporate tax hikes could shave roughly 3% off S&amp;P 500 earnings in 2022. JPMorgan Chase &amp; Co. strategists Shawn Quigg and Marko Kolanovic wrote last week that they’re looking out for deterioration in stocks that benefited from the 2017 reductions, which cut the corporate tax rate from 35%.</p>\n<p>Moreover, Emanuel anticipates only a near-term hit to the index, while economic and earnings growth fueled by central bank and government stimulus could drive “an overshoot to as high as 5,047” by the end of this cycle.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>A Century of Data Show Markets Far From Impervious to Tax Hikes</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nA Century of Data Show Markets Far From Impervious to Tax Hikes\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-05 16:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=http://bloomberg.com/news/articles/2021-04-05/a-century-of-data-show-markets-far-from-impervious-to-tax-hikes?srnd=markets-vp><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Higher corporate, individual rates have dented returns: BTIG\nJPMorgan warns of declines for beneficiaries of 2017 cuts\n\nThe prospect of tax hikes may not have derailed gains in U.S. stocks yet, but ...</p>\n\n<a href=\"http://bloomberg.com/news/articles/2021-04-05/a-century-of-data-show-markets-far-from-impervious-to-tax-hikes?srnd=markets-vp\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"http://bloomberg.com/news/articles/2021-04-05/a-century-of-data-show-markets-far-from-impervious-to-tax-hikes?srnd=markets-vp","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1194612605","content_text":"Higher corporate, individual rates have dented returns: BTIG\nJPMorgan warns of declines for beneficiaries of 2017 cuts\n\nThe prospect of tax hikes may not have derailed gains in U.S. stocks yet, but 100 years of data say the market is far from impervious to them.\nStocks can take a hit when rates rise on corporations and individuals, according to Julian Emanuel, chief equity and derivatives strategist at BTIG LLC. He sees 13 such instances, most recently in 1993. The average return on the U.S. benchmark index in the years of the combined hikes is 2.4%, and drops to -0.9% for the year following. That compares with a long-run annual average of 7.7%, Emanuel notes.\n“‘Common wisdom’ has it that equities are indifferent to tax hikes,” Emanuel wrote. “They aren’t.”\nU.S. President Joe Biden’s $2.25 trillion infrastructure-centered plan includes tax hikes that, among other things, would boost the corporate rate to 28% from 21%. It doesn’t include raising taxes on the wealthy, though such a proposal is likely in another related package. So far equities haven’t seemed to mind much, with the S&P 500 Index breaching 4,000 for the first time Thursday. Thin Democratic majorities in both the House and Senate means the proposal could struggle against Republican opposition.\n\nThe broad stock-market impact from the infrastructure plan as it stands looks modest to the likes of Goldman Sachs Group Inc. Chief equity strategist David Kostin estimated in mid-March that the proposed corporate tax hikes could shave roughly 3% off S&P 500 earnings in 2022. JPMorgan Chase & Co. strategists Shawn Quigg and Marko Kolanovic wrote last week that they’re looking out for deterioration in stocks that benefited from the 2017 reductions, which cut the corporate tax rate from 35%.\nMoreover, Emanuel anticipates only a near-term hit to the index, while economic and earnings growth fueled by central bank and government stimulus could drive “an overshoot to as high as 5,047” by the end of this cycle.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3961584,"gmtCreate":1617614773634,"gmtModify":1680782918703,"authorId":3578640057424295,"author":{"id":3578640057424295,"idStr":"3578640057424295","authorId":3578640057424295,"name":"张家二少爷","avatar":"https://community-static.tradeup.com/news/7a12bca4ab5f122bdf3f13efcca1ec27","vip":1,"currentWearingBadge":{"badgeId":"44212b71d0be4ec88898348dbe882e03-2","templateUuid":"44212b71d0be4ec88898348dbe882e03","name":"Executive 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