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History says Biden’s planned capital-gains tax will put immediate selling pressure on stocks, according to Goldman Sachs | Markets – Business Insider

History says Biden’s planned capital-gains tax will put immediate selling pressure on stocks, according to Goldman Sachs

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  • Joe Biden’s planned capital-gains tax may put immediate selling pressure on stocks, according to Goldman Sachs.
  • In a Friday note the firm explained that the last capital-gains tax hike in 2013 sparked a stock sell-off worth roughly $100 billion from wealthy individuals.
  • However, those individuals who sold quickly bought back stocks only a few months later, leading Goldman to conclude that the household selling around tax hikes will be “short-liv…

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Target to pay more than $70 million in bonuses to hourly employees ahead of holidays – CNBC

Target said Monday that it will spend more than $70 million on another round of employee bonuses during the coronavirus pandemic.

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Target said Monday that it will spend more than $70 million on another round of employee bonuses during the coronavirus pandemic, as the holiday shopping season picks up.
The retailer will pay $200 to its more than 350,000 employees who work at stores, distribution centers and contact centers, according to a post on its corporate website. It will pay the bonuses by early November.
Grocers and big-box retailers, including Walmart, Amazon and Kroger, temporarily increased pay and gave bonuses to…

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Dr. Scott Gottlieb: U.S. is in the 7th inning of the pandemic but the ‘hardest part’ is likely ahead – CNBC

Rising Covid-19 cases across the nation indicate the U.S. is “entering a pretty difficult period,” the former FDA chief said.

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Dr. Scott Gottlieb warned on Monday that the U.S. is likely to face even bigger challenges from the coronavirus pandemic as cases rise this fall without widely available treatments or a vaccine.
“We’re going to get through it. We’re probably in the 7th inning of the acute phase of this pandemic right now, but the hardest part is probably ahead,” Gottlieb said on CNBC’s “Squawk Box.”
The former U.S. Food and Drug Administration commissioner pointed to the increasing number of new daily Covid-19…

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Stocks making the biggest moves in the premarket: Concho Resources, Halliburton, AstraZeneca & more – CNBC

The stocks making the biggest moves in premarket trading include Concho Resources, Halliburton, AstraZeneca, and more.

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Take a look at some of the biggest movers in the premarket:
Concho Resources (CXO) ConocoPhillips (COP) will buy its rival energy producer in an all-stock transaction valued at $9.7 billion. Concho shareholders will receive 1.46 ConocoPhillips shares for every share they now own. CNBC’s David Faber had reported last week that the two sides were in late-stage talks about a possible deal.
Halliburton (HAL) The oilfield services company earned 11 cents per share for its latest quarter, 3 cents a …

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