A major stock index that is up more than 30% in 2017 could fall even further after President Donald Trump’s tax-cut bill passes Congress.
The index, the S&P 500, is up 2.6% in 2018, while the Dow Jones Industrial Average is up 7.7%.
The S&P 500 is up 17% so far this year.
Trump’s budget bill includes $1 trillion in tax cuts, but the measure also calls for tax cuts for corporations and individuals that would offset some of the tax cuts.
“The tax cuts are going to offset a lot of the economic growth we would have from the tax reform, so there’s a bit of a risk that we could lose some of those gains that we’ve made,” said Mark Mahaney, chief economist at Moody’s Analytics.
There’s no reason to expect that right now.” “
We’re not predicting an immediate correction.
There’s no reason to expect that right now.”
The CBO estimated in September that the Trump plan would add $1.4 trillion to the national debt over 10 years.
“It’s certainly possible that there’s some damage that can be done, particularly with respect to the S.&=;P,” Mahaney said.
But the CBO expects that the tax plan would spur economic growth that would be temporary.
Trump has made the tax cut a top priority, saying it would create jobs and boost the economy.
He’s said he will be releasing details of his tax plan during his first week in office.
“I will be the greatest jobs president that God ever created,” Trump said in February.
“And I’m gonna take care of all of you.”
The Dow Jones is up 9.4% in early trading on Wednesday, while shares of the Standard &=*&gt; Nasdaq are up 6.3%.
The Nasdaq Composite is up 12.2% this year, while tech stocks are down 1.5%.
The Dow has gained 1,400 points this year and has climbed more than 2,000 points since the beginning of the year.
The S. &=”lt;br>cmid;&>
The CBO projects that the S stock index will fall 1.4%.
“He’s trying to cut taxes and he wants to do it fast. “
A lot of it’s a combination of Trump’s priorities,” said Brian Hoyer, senior portfolio manager at the National Association of Securities Dealers, which represents investment managers.
“He’s trying to cut taxes and he wants to do it fast.
So it’s important that the stock market be on the radar.”
The S stock market has been up more in 2017 than any other major stock sector.
The Dow is up 16.7% this week and the S stocks index is up 22.2%.
The CBO said that while the tax package could reduce growth, the gains would offset the tax breaks.
The Trump administration has said that the Tax Cut Act would boost growth, but many analysts have warned that the bill could not fully offset the losses.
The Tax Cut Act is expected to raise tax revenues by $1,100 billion over 10, 15, 20 years.
But many analysts said that tax cuts alone could not be enough to offset the $1 billion loss in tax revenues due to a loss in corporate taxes.
Hoyer said the CBO has been wrong before in forecasting how the Trump tax cuts would affect the S markets.
“But this year the market is in a bubble, and I think that the market has got to keep its nose to the grindstone and keep asking for more information,” he said.
Hoyle said he is hopeful that the markets can rally from this week’s decline.
“If we can get them to see that there is a real threat to their stock prices that is a much higher level of risk than they are facing right now, then they’re going to be more likely to rally,” he added.
But Hoyer added that there was a “high degree of doubt” in the market.
“At the end, it will be really hard for investors to get in the stock markets,” he predicted.
The Nasex stock index was up 7% Wednesday.