The Tax Cuts and Jobs Act of 2017 – signed into law on December 22 last year – allows U.S. companies to repatriate the cash they have socked away overseas by paying 15.5 percent, rather than the previous 35 percent. … Continued
U.S. corporate profits adjusted for inventory valuation and capital consumption grew 1.3 percent quarter-over-quarter in 2Q17 to a seasonally adjusted annual rate of $2.14 trillion, but growth has been uneven since peaking at $2.23 trillion in 4Q14. Since that peak … Continued
As of last Friday, only 32.6 percent of S&P 500 stocks were above 50-day moving average, earlier having dropped to 29.8 percent on Wednesday. This compares to 22 percent on June 27 (orange arrow in Chart 1) when the S&P … Continued