Trump vows 'tremendous incentive' on taxes during NYSE visit
Published On Dec 12, 2024, 10:31 AM
During his recent visit to the New York Stock Exchange, President-elect Donald Trump announced significant tax cuts, proposing a reduction in corporate tax rates to as low as 15% for companies that produce goods in the U.S. He stated that these incentives are unmatched globally and indicated that such policies would foster an economy that boosts production and lowers prices for consumers. This announcement comes alongside his plans for increased domestic energy production and repercussions for international trade agreements, specifically with Canada and Mexico.
Stock Forecasts
XLI
Positive
Trump's proposed tax cuts and focus on domestic production may drive investor sentiment positively. Stocks in sectors likely to benefit, such as manufacturing and energy, could see boosts as companies react to the potential for lower tax burdens and increased production incentives.
XOP
Positive
Investors may want to look at ETFs and stocks that incorporate energy production, as Trump's focus on bolstered domestic energy output suggests improved profitability for those companies. The SPDR S&P Oil & Gas Exploration & Production ETF could be positively impacted.
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