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Stocks Regain Footing After Rubio Buyback Tweet: Markets Wrap
U.S. equities stabilized on Wednesday after Senator Marco Rubio’s proposal to tax buybacks on equal footing with dividends took some of the steam out of this week’s rally. The Florida Republican’s tweet about his buyback proposal slowed an advance in the S&P 500 Index, which had been driven higher by optimism that Donald Trump is closer to accepting a border deal, averting another government shutdown. “Any government interference within the capital markets, and changes that they want to make, investors are always a little bit cautious about -- and clearly this is a change which would cause additional costs for investors,” Chris Zaccarelli, chief investment officer at Independent Advisor Alliance, said of Rubio’s proposal.
https://finance.yahoo.com/news/asia-stocks-seen-edging-higher-231811013.html?.tsrc=rss
U.S. equities stabilized on Wednesday after Senator Marco Rubio’s proposal to tax buybacks on equal footing with dividends took some of the steam out of this week’s rally. The Florida Republican’s tweet about his buyback proposal slowed an advance in the S&P 500 Index, which had been driven higher by optimism that Donald Trump is closer to accepting a border deal, averting another government shutdown. “Any government interference within the capital markets, and changes that they want to make, investors are always a little bit cautious about -- and clearly this is a change which would cause additional costs for investors,” Chris Zaccarelli, chief investment officer at Independent Advisor Alliance, said of Rubio’s proposal.
https://finance.yahoo.com/news/asia-stocks-seen-edging-higher-231811013.html?.tsrc=rss
