U.S. stocks dived on reports of double capital gains tax

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U.S. stocks dived on reports of double capital gains tax

Jobless claims in the U.S. decrease further.NEW YORK, April 22 - U.S. stocks dived on ThursdayThe three main indexes on Wall Street fell also on reports that Biden planned to raiseIf it had a chance of passing, we'd be down 2,000 points, saidPaul Nolte, portfolio manager at Kingsview Investment Management in Chicago, said when He says it is more a knee-jerk reaction than a short-term responseBiden will propose to double the marginal income tax rate from 37% and almost triple capital gainsThe proposal targets about $1 trillion for child care, paid prekindergarten education and universal leave forMarkets have been uncontrolled after the Dow and S&P 500 all-time highsUntil we get out of this information vacuum, the market is generally directionless, heWhat is all that matters about the next week?Earlier in the session, industrials hit a fresh record high while healthcare companies were theSouthwest Airlines Company and American Airlines Group Inc reported quarterly losses that were smaller than expected, signalBoth shares fell.Investors welcomed the news that the number of Americans filing new unemployment benefits for the first week ofThe Labor Department report suggested the layoffs were falling and expectations for another month of blockbusSeparately, the data showed that U.S. home sales fell to a sevenThe rapid rollout of the US vaccinations has improved the economic outlook as people enjoy summer vacationNASDAQ Equities have likely reached a near-term high as expectations are too high,What moves markets most of the time is not the actual earnings results, but the results againstOverall we have pretty spectacular results.The fourth quarter earnings are expected to increase 31.9% from a year ago, the highestAll 11 S&P 500 sectors closed lower, as Microsoft, Apple Inc., Amazon.The Nasdaq Composite dropped 0.94% in the Dow Jones Industrial Average and the SAt&T Inc. beat Wall Street revenue targets as the reopening of the USChipmaker Intel CorpUSChipmaker Intel Corp is expected to post a decline in first quarter revenues later in the dayBiogen Inc beat estimates for quarterly profit on stronger than anticipated sales of its Alzheimer's drug

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