Wall Street Roundup: Tax breaks for banks. Wall Street’s popularity
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Manufacturing up. Orders for long-lasting goods rose 0.5% from January to February, slightly less than analysts had expected. Demand has risen for three straight months, indicating the strength of the manufacturing sector.
Wall Street’s popularity problem. Less than a quarter of Americans have a favorable view of Wall Street, according to a new poll from Bloomberg. The poll found that Americans do have a desire to see the government punish executives, but not necessarily in the ways being contemplated by Congress right now.
Tax breaks for banks. JPMorgan Chase & Co. may win a $1.4-billion tax break, according to the Wall Street Journal. JPMorgan is following other banks, which have benefited from an overlooked clause in one of the many pieces of bailout legislation that was passed last year.
Portugal’s problem. Portugal’s credit rating was downgraded by Fitch Ratings to AA-. Other ratings agencies had already made similar downgrades, but Fitch’s move is the latest blow to European sovereign debt.
-- Nathaniel Popper