Market jumps before Trump's tax plan reveal

The Dow Jones industrial average had its best two-day stretch since November, closing up more than 230 points on Tuesday.
1:30 | 04/26/17

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Transcript for Market jumps before Trump's tax plan reveal
Jon Karl, thank you very much. The market reacting favorably ahead of president trump's tax plan reveal. The Dow Jones enjoying the best two-day stretch since November. Closing up more than 230 points. Rebecca Jarvis has details for us. Good morning, Rebecca. Reporter: Good morning to you, robin. Wall Street has been laser focused on what's going on in Washington, particularly this tax proposal, set to be released today. If that corporate tax rate come down to 15%, the companies that have their stocks listed here at the New York stock exchange stand to have a great deal of savings. Some of them upwards of billions of dollars in tax savings in a given year. There's also that focus now on corporate earnings. What we've been hearing from corporate America and their report card. In particular, technology companies have really been driving the momentum in this rally. The the you look at it, a handful of stocks, just five of them, Amazon, apple, Facebook, pike roe soft, and alphabet, the parent company of Google, have driven 40% of the gains so far this year. They win whether or not Washington passs these proposals. What are investors keeping an eye on going forward? The key is that there's a big difference between a proposal and a done deal on taxes. Wall Street is very much awe of that, because of what we saw happen with the health care bill earlier last month.

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