The Dow closed above 26,000 for the first time in its history, as bank earnings, Boeing (BA) and IBM (IBM) drove the blue-chip index higher Wednesday.
The Dow Jones Industrial Average surged 322 points to 26,115. The S&P 500 and Nasdaq Composite also hit all-time highs. The S&P 500 advanced 26 points to 2,802. The Nasdaq gained 74 points to 7,298.
An early rally Tuesday morning pushed the Dow past 26,000, clinching the fastest 1,000-point climb for the Dow. Although Wall Street pared its gains later in the session, the rally picked back up a day later.
Brad McMillan, chief investment officer for Commonwealth Financial Network, said the brief pullback after the Dow first cracked 26,000 on Tuesday was a healthy sign for the market. – READ MORE
[give_form id=”79809″] [divider][/divider]JPMorgan Chase CEO Jamie Dimon once said President Donald Trump would be a one-term president. Now, he’s not so sure Democrats have a chance in 2020.
Dimon spoke to Fox Business this week about the issue and said he regrets those comments about Trump. But he’s not too confident about the Democrats, either:
“The thing about the Democrats is they will not have a chance, in my opinion. They don’t have a strong centrist, pro-business, pro-free enterprise person. The American public is not clamoring for more government. They were angry about the Great Recession, they blamed banks, they blamed Washington, but they’re also angry about the bureaucracy.” – READ MORE
[give_form id=”79809″] [divider][/divider]President Donald Trump’s tax bill has already made a difference for many Americans. Comcast, AT&T, and Fifth Third Bancorp are just some of the companies that added a $1,000 bonus to their employees’ paychecks.
According to the U.S. Department of Treasury, the majority of Americans should expect to see an increase in their take-home pay this year, too.
On Thursday, Treasury Secretary Steve Mnuchin talked about the new withholding tables from the IRS.
Treasury Secretary Steven Mnuchin said the government expects about 90 percent of workers to see an increase in their take-home pay – READ MORE
[divider][/divider]Fiat Chrysler announced Thursday that it will up its investment in the United States and pay some of its employees special bonuses after the recent tax code overhaul.
CEO Sergio Marchionne said in a statement that these announcements reflect the company’s ongoing commitment to manufacturing in the U.S. He also cited the recently signed tax bill as an opportunity to share the savings with Fiat Chrysler employees.
The automaker said it will invest more than $1 billion in a Michigan plant and relocate production of its Ram Heavy Duty truck in 2020. That model is currently being produced in Saltillo, Mexico.
Fiat Chrysler said this decision would create about 2,500 jobs in addition to the ones that have been previously announced.
The company said it will also pay 60,000 of its U.S. employees bonuses of $2,000 each. Fiat Chrysler said these bonuses would not include senior leadership. – READ MORE
[divider][/divider]Leading up to and following the Republicans’ $1.5 trillion tax cut that gives 80% of taxpayers some much-welcomed tax relief, Democrats and their sympathetic colleagues in the left-leaning media made a big to-do of polls showing how much Americans supposedly hated being allowed to keep more of their own money. But in reality, the benefits of the comprehensive tax reform bill have already begun to impact Americans, with a growing list of companies offering bonuses, raising wages, getting more generous with their charitable giving, and finding ways to pass savings along to customers.
Add Pepco to that growing list. This week, Pepco announced that because of the bill’s game-changing corporate tax reduction (slashed from 35% to 21%), 300,000 customers in Washington, D.C. will see lowered costs.
Pepco says it will lower electric bills for almost 300,000 ratepayers in D.C., largely because its corporate tax rate was slashed from 35 to 21 percent in GOP tax bill. pic.twitter.com/St9Vym5ILF
— Martin Austermuhle (@maustermuhle) January 9, 2018
As The Daily Wire’s Ryan Saavedra highlights, so far around 100 companies — many of them major national companies — have announced that they are increasing bonuses, wages, and/or charitable giving. – READ MORE
[divider][/divider]Over 1 million American workers with over 100 companies are set to receive a bonus, pay hike or retirement increase as a direct result of President Trump’s tax reform package.
The latest list from Americans for Tax Reform, which has been collecting the names of firms paying the Trump bonus, finds that some are paying as much as $3,000.
“Some 40 U.S. companies have responded to President Trump’s tax cut and reform victory in Congress last year by handing out bonuses up to $2,000, increases in 401k matches and spending on charity, a much higher number than previously known.” https://t.co/bmWrwWzxMR
— Donald J. Trump (@realDonaldTrump) January 4, 2018
Many of those firms have reached out to Secrets to get added to the list since we’ve been publishing ATR’s list compiled by the tax reform advocate’s communications chief John Kartch.
One company, IAT Insurance of Raleigh, N.C., wrote Secrets today asking to be added. “I just read your story on the 100 companies giving bonuses after tax reform. On December 11, IAT Insurance Group announced their pledge to reinvest tax savings into what makes IAT great, their employees. After the bill officially passed, IAT announced on December 21 their plan to pay all non-executive employees a $3,000 bonus on January 15, 2018,” said the company. – READ MORE
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