Stock market volatility remains at lower levels despite an uptick in global uncertainty. The war of words with North Korea, political uncertainty in Spain, and elections in Japan are keeping global uncertainty alive.
US-based companies pay, on average, a 27% tax on income.
Equity markets across the globe appear to welcome the idea of a US corporate tax cut.
The path to President Trump’s tax reform plan could be troubled by the prospect of a ballooning deficit because the plan offers generous tax cuts.
The Trump administration’s central idea is to reduce the taxes paid by corporations and simplify the federal tax code—despite the projected effects on the deficit.
As per the September ADP Employment Report, there was a major drop in the number of jobs created in the trade, transport, and utility sector.
As per the September ADP National Employment Report, the US private sector added 135,000 jobs during the month. The figure is a sharp decrease from 228,000 in August.
The most important US nonfarm-payrolls data is scheduled to be reported on Friday, October 6. Consensus expectations are for an addition of 93,000 jobs in September.
The Japanese yen (JYN) closed September with a depreciation of 2.29% against the US dollar. For the week ending September 29, the Japanese yen (FXY) closed at 112.49 against the US dollar (UUP), depreciating 0.46%.
The British pound (FXB) depreciated against the US dollar for the week ended September 29. The pound (GBB) posted a weekly close of 1.3397, depreciating by 0.71% against the US dollar (UUP).
The euro-dollar (FXE) closed the week ending September 29 at 1.1814 against the US dollar (UUP). German election results had a minor negative impact on the shared currency.
The US Dollar Index (UUP) continued its rally last week, closing at 92.88 and posting a gain of 0.99% for the week.
For the week ending September 29, the S&P 500 index (SPY) closed at 2,519.36—recording gains of 0.68% for the week and 1.93% for the month.
Stock market volatility around the globe continued to trend lower as uncertainty about German elections, North Korea, and US tax reforms subsided.
Bostic dealt with various reasons that have been cited as reasons for the lower level of inflation—even questioning the common ones.
Since the September 20 statement, markets have turned skeptical about whether the Fed will be able to go ahead with its December rate hike plan.
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