Markets Rise on Tax Overhaul Optimism -<br />By PRASHANT S. RAOAPRIL 25, 2017<br />Stock markets in the United States rose Tuesday morning, buoyed by optimism over far-reaching tax changes<br />that President Trump’s administration is expected to propose in the coming days.<br />The Nasdaq composite index rose above 6,000 for the first time, while the Dow Jones industrial average<br />and the Standard & Poor’s 500-stock index also opened sharply higher.<br />In recent days, however, Mr. Trump has instructed his staff to focus on cutting the corporate tax rate to 15<br />percent as part of tax changes to be unveiled this week, according to people with knowledge of his plans.<br />Stock markets have risen steadily in the months since Mr. Trump’s election, based on expectations of deregulation<br />and business-friendly policies supporting economic growth.<br />In morning trading on Tuesday, the Nasdaq composite index rose as much as 0.6 percent, to a high of 6,022.58.<br />Although tax overhaul was a major plank of the president’s campaign,<br />that effort has taken a back seat in recent months over concerns it would expand the budget deficit and face congressional backlash.
