Title : Futures Mean Squat -- But, Having Said That --- December 3, 2017
link : Futures Mean Squat -- But, Having Said That --- December 3, 2017
Futures Mean Squat -- But, Having Said That --- December 3, 2017
Assuming ABC News doesn't report another inaccurate news report, it could be an exciting day on Wall Street tomorrow. Tonight, the futures:
And, WTI is down slightly, trading just slightly below $58.
CNN reports why Wall Street is euphoric over the tax plan (and, of course, as usual, it's a superficial explanation, fits CNN's theme, and completely misses the real reason why Wall Street is euphoric. As I understand it, corporations won't see their tax breaks until 2019 -- at leas the "big" tax break -- but those individuals paying federal taxes (about 50% of the US population) will see tax breaks next year. (No one knows whether individual tax breaks will take effect for the 2017 calendar year.)
Between now and the end of the year, any significant move down in the market will represent a huge buying opportunity, unless there are major geopolitical events that cause the market to plunge. But even then, it's likely a plunge in the market would be a buying opportunity.
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