Wall Street braced itself for yet another day of fiscal cliff negotiations after House Speak John Boehner proposed a “Plan B” option, in which the Bush-era tax cut for people making less than $1 million would be extended, but deferred a plan on spending cuts. The plan was rejected, but President Obama made a counteroffer that included a major change in his position on tax hikes for the wealthy; Obama proposed $1.2 trillion in higher tax revenue from those earning over $400,000 and $1.22 trillion in spending cuts. Though initial reaction was somewhat mixed, investors were at least satisfied with the apparent progress of the negotiations [see also 101 High Yielding ETFs For Every Dividend Investor]. Global Market Overview: Stocks Post Solid Gains On Budget Talks All three major U.S. equity indexes ended in positive territory today, boosted by positive budget talks, solid housing data, and lower-than expected U.S. current account deficit figures. Led [...] Click here to read the original article on ETFdb.com. Related Posts: Daily ETF Roundup: Stocks Inch Higher On Jobs Data ETF Insider: Fiscal Cliff Woes Simmer On Tax Talks 5 Best (And 5 Worst) ETF Performers Over The Last Year 3 Best (And 3 Worst) ETF Performers Over The Last 3 Years Daily ETF Roundup: Excitement Simmers On Mixed News
Wall Street braced itself for yet another day of fiscal cliff negotiations after House Speak John Boehner proposed a “Plan B” option, in which the Bush-era tax cut for people making less than $1 million would be extended, but deferred a plan on spending cuts. The plan was rejected, but President Obama made a counteroffer that included a major change in his position on tax hikes for the wealthy; Obama proposed $1.2 trillion in higher tax revenue from those earning over $400,000 and $1.22 trillion in spending cuts. Though initial reaction was somewhat mixed, investors were at least satisfied with the apparent progress of the negotiations [see also 101 High Yielding ETFs For Every Dividend Investor]. Global Market Overview: Stocks Post Solid Gains On Budget Talks All three major U.S. equity indexes ended in positive territory today, boosted by positive budget talks, solid housing data, and lower-than expected U.S. current account deficit figures. Led [...]
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