JPMorgan Chase Stock Soars Following Tax Bill Advance
It isn't often that shares of JPMorgan Chase (NYSE: JPM) climb 3.5% in a single day, but that's what happened on Tuesday, after optimism grew that the Senate may soon pass its tax reform bill, a major part of which is a lowering of the corporate income tax rate from 35% down to 20%.
The news caused stocks to climb broadly, with the S&P 500 (SNPINDEX: ^GSPC) closing the day up by 0.98%. But few stocks benefited as much as banks did, with shares of Bank of America (NYSE: BAC) and Wells Fargo (NYSE: WFC) also closing higher by 3% or more.
JPMorgan Chase chairman and CEO Jamie Dimon. Image source: JPMorgan Chase.
Source: Fool.com
JPMorgan Chase & Co. Stock
€187.08
1.040%
With 32 Buy predictions and not a single Sell prediction JPMorgan Chase & Co. is an absolute favorite of our community.
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