Banks, lenders and other financial companies were more or less flat as the tax bill sailed through, much as investors had anticipated. One brokerage said the boost to corporate profits constituted a "modest near-term positive" for financial markets. Longer term, the tax bill could turn out to be a major or a minor impact on the growth trajectory. "The growth impulse from tax reform could strengthen if corporations spend more of their returned dollars than we're assuming despite relative static incentives to do so," said the Morgan Stanley analysts, in a note to clients.
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-Rob Curran, firstname.lastname@example.org
(END) Dow Jones Newswires
December 20, 2017 16:41 ET (21:41 GMT)