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April 27, 2017

Stocks wobble on tax cut news

NEW YORK (AP) — Stock indexes wobbled between modest gains and losses Wednesday, as the White House unveiled broad outlines of its plan to slash tax rates but left many of the details to be determined.

Anticipation for a big tax cut, along with looser regulations on businesses, have been two of the main drivers behind the stock market's surge since November, when Republicans swept into Washington. The White House delivered a big number Wednesday, when officials said they hope to cut the top corporate tax rate to 15 percent from 35 percent.


 
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