Stay updated with breaking news from Fox frome. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
President trump presented some confusion on the tax cut. Business tax all the way down 35 percent20 or it could be 22 . We will see what ultimately it comes out. Shery here now with that and what this means for negotiations is our National Political reporter joining us from capitol hill. So this would be a good revenue raiser . Where are lawmakers likely to use that money question mark its far from certain that this will actually happen. President trump started with a 15 Corporate Tax rate and moved up to 20 which seems to be the redline for a lot of members of the house and the senate on the republican side. Its far from clear that they will go for the 22 . There are two senators i believe would have been happy to have heard President Trump say before the senate vote that marco rubio and mark lee who proposed to tax ....
As we can see the renewed theme of rotation, rotation out of technology and into financials and industrials, for example, evidence in the dow. S p 500 in the middle, up. 5 , so benefiting by the surge we have seen in stocks related to the tax cuts passed over the weekend. Another way to look at the weakness we have seen with technology in this chart, looking at the percentage of members of Different Industries with 14 day relative strength index above 70. In other words, are we seeing them overbought at these levels . Look at the s p 500 in blue, the percentage going up even as techs have been going down. Indicator forum this group relative to the broader market, that it has been weakening versus the broader market. On the subject of rotation, if you look at some of the weakest names today, they are in the top 10 performers in the s p 500 this year. Align technology, maker of the invisible line braces alternative, we have ma ....