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
€195.54
1.350%
The stock is an absolute favorite of our community with 34 Buy predictions and no Sell predictions.
With a target price of 202 € there is a slightly positive potential of 3.3% for JPMorgan Chase & Co. compared to the current price of 195.54 €.
