World stock markets mostly sank on Thursday on intensifying recession fears, while oil prices receded before an OPEC output decision.
Frankfurt and Paris each
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by Tyler Durden
Friday, Apr 23, 2021 - 08:03 AM
US equity futures rebounded Friday following Thursday s 1% selloff as investors digested a proposal for higher capital gains taxes and realized that i) it is nothing new compared to previous media reports and ii) the most likely outcome is a compromise tax rate (Goldman expects a final number no higher than 28%). Still, both the S&P 500 and Dow are on course for weekly declines, after four straight weeks of gains. At 730 a.m. ET, Dow e-minis were up 38 points, or 0.11%, S&P 500 e-minis were up 9 points, or 0.22%, and Nasdaq 100 e-minis were up 18.5 points, or 0.14%.