Did you get the Memo
Locked and Loaded
Please note: All data, figures and graphs are valid as of April 27th. All trading carries risk. Only risk capital you’re prepared to lose.
As was expected, Trump’s great comprehensive tax plan was indeed revealed yesterday. Again, as expected, it was a bit skimpy on the details.
Still, lowering corporate taxes by 20% is significant but it does seem that this was already priced into the markets. Instead, investors chose to focus on the lack of any details about reappropriation.
Trump had hoped to bring large overseas companies home with a big incentive. The document above simply states. “One-time tax on trillions of dollars held overseas.”
Stocks of companies that are holding the largest amount of overseas assets took the biggest hit.
Not too much to worry about though. Many of these companies are up 20 and 30% since the US elections. So many long term stock investors are likely to see this small dip as an opportunity.
Global stock indices are down but only very slightly at this point.
European Markets are waiting today for the ECB interest rate decision and press conference with Mario Draghi. They will be listening close for any hints that the QE program that currently prints €60 billion monthly will be ending soon.
Analysts are expecting a clean speech with no change in interest rates and that the ECB will play it as safely as possible ahead of the potentially volatile French elections. However, I do recommend to log into your platform from 12:30 GMT to about 13:30 GMT just to check on the markets, especially if you have exposure to the euro or European indices.
Bananas for Crypto
The number that we’ve been tracking that shows the total market cap of all cryptocurrencies has reached another fresh record high of $32 billion.
Here we can see the graph of this market cap since 2013. Please take note that on January 11th, the number stood at $14.6 billion.
There is lots of talk in the investment world about the SEC reviewing an ETF that involves bitcoin and even one that involves Ethereum.
In the mining community, everybody is excited about the segwit solution that is now locked and loaded in the Litecoin blockchain.
Disclosure: This content is for information and educational purposes only and should not be considered investment advice or an investment recommendation. Past performance is not an indication of future results. All trading carries risk. Only risk capital you’re prepared to lose.