8@eight: ASX set for negative start after tepid night on Wall St

By | diciembre 25, 2017
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Despite news during the New York session that the United States Congress had pushed through the long-touted tax reform plan, the markets showed very little enthusiasm on the day. Given how much this topic had dominated the news cycles over the past months and further the speculative optimism the mere plan had engendered, some may be taken aback by the lack of bullish charge that followed the virtual approve. That group would not likely include traders however. The ‘buy the rumor, sell the news’ axiom is among the most popular when referring to fundamentals and their influence on the markets.

This effort has been touted since the campaign leading into the US Presidential election last year. The promises of the economic growth it would inspire were set very high and prices on equities reflect that aggressive assessment. Now that its signing into law is upon us and the S&P 500 has pushed record highs on countless sessions through 2017, we are left to weigh our convictions. And, we assess how much value is still unaccounted for as the liquidity clock counts down to next week’s holiday drain.

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