Trifecta Thursday - Fed Chair, Tax Cuts, AAPL.
Today (Thursday) is a big day, well in the US at least.
Those of us down under will have to stay up to watch the play, but there will be 3 announcements (unless stalled) worthy of attention. The Thursday Trifecta includes:
1. Announcement of the next Federal Reserve Chair, with smart money indicating it may be Jerome Powell who like Janet Yellen appears to be in favor of gradual rate raising, but unlike the current Chair is inclined to tweak some of the post-GFC banking stability regulation.
2. Unveiling of the Republican tax plan, with all indicators suggesting a measure that will seek up to US$6 trillion in tax cuts over 10 years (including corporate tax rate cuts to 20% from 35%), but with scant detail on how this will be funded, and so far not a lot of commentary around the previously proposed cash repatriation amnesty of 10%. There is also a question as to whether the cuts will be temporary. The full proposal is likely to be weeks away. This announcement has the most chance of being stalled.
3. AAPL, the world’s most valuable company by market capitalisation reports its Q4 earnings performance. If it follows suit from the other tech titans which have already reported, it is likely to add further juice to the tech rocket ship.
You choose the winning order, the market will choose the payout.
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