The Dow and the Nasdaq each also sank following the report from Bloomberg, which suggested Biden was considering increasing the capital gains tax rate on those earning more than $1 million to 39.6%.
I’m sure there will be intense lobbying from the investment community to adjust those numbers,” Kathy Jones, Charles Schwab chief fixed income strategist, told Yahoo Finance on Thursday.
In another report that appeared to corroborate the pick-up in economic activity, Thursday’s initial unemployment claims report showed just 547,000 individuals filed for first-time unemployment benefits last week, marking an unexpected improvement to a new pandemic-era low.
I think the market has already priced in a lot of the surge in economic growth, in earnings growth,” Gabriela Santos, global market strategist for JPMorgan Asset Management, told Yahoo Finance.
“Specifically related to capital gains, this should not be a surprise,” sh added.
Western countries risk losing control of technologies that are key to internet security and economic prosperity to nations like China and Russia if they don’t act to deal with the threat, one of the U.K.’s top spy chiefs warned Friday.
Is my money safe? Can my stock outperform the market? History has shown that equity gives far better returns than fixed income in the long term.
Health Canada will not make a decision on whether to authorize any vaccine under rolling review until it has received the necessary evidence to support the candidate’s safety, efficacy and quality, the company said.
The West must urgently act to ensure that China does not dominate the key technologies of the 21st Century or the Communist state could effectively grab control of the world’s global “operating system”, Britain’s top cyber spy said.
Iglesias, who recently stepped down as one of Spain’s four deputy prime ministers to run in the May 4 Madrid election, posted a photo on Twitter showing the four bullets he said arrived inside the envelope and the letter addressed to him at the Interior Ministry’s headquarters in Madrid.
The country’s diesel and gasoline consumption could fall by a fifth this month, and traders said the nation’s largest refiner had refrained from buying West African oil this week, defying expectations.Oil is more than 25% higher this year, aided by the rollout of Covid-19 vaccines and vigilant supply management from the Organization of Petroleum Exporting Countries and its allies.
Stellantis has said it would offer electric versions of almost all of its European lineup by 2025, as the auto industry faces regulatory pushes in Europe and China to accelerate the shift to zero-emission vehicles.
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The Tod’s deal got more expensive after the Italian group added popular social influencer and brand founder Chiara Ferragni to its board earlier this month, boosting shares by 12% as it signalled its intent to target younger buyers.