Industrial Stocks Rise Amid Tax Bill Hopes - Industrials Roundup
September 26 2017 - 3:52PM
Dow Jones News
Shares of manufacturing and transportation companies ticked up
as traders hedged their bets on the outlook for a major tax reform
bill. "Reports of a budget resolution that includes tax cuts of
$1.5 trillion have boosted the odds that tax legislation will
become law in 2018," said analysts at brokerage Goldman Sachs, in a
research note. "Our political economist expects any tax legislation
would likely include a one-time tax on previously untaxed foreign
profits." The profit repatriation could lead to boosted dividends
and merger-and-acquisition activity in a range of industries,
according to the Goldman Sachs analysts. Boeing will tap an
international consortium of insurers to help finance jetliner
orders that are expected to approach $200 billion a year by the end
of the decade, The Wall Street Journal reported.
-Rob Curran, rob.curran@dowjones.com
(END) Dow Jones Newswires
September 26, 2017 16:37 ET (20:37 GMT)
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