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Tax cut benefits companies

Friday, February 23, 2018

SAN FRANCISCO - Netflix Inc, Inc and technology companies poised to benefit from US corporate tax cuts are attracting fresh attention on Wall Street after their shares shrugged off recent market turbulence.

Amazon on Wednesday rose over 2 per cent and touched $US1500 ($F3033) for the first time, while Netflix rose also rose over 2 per cent and nearly hit its own record high.

Investors, left nervous after major indexes slumped into correction territory at the start of the month but still confident about the health of the US economy, are doubling down on already popular companies expected to post above-average earnings growth.

Many of those are businesses poised to benefit from consumers and companies with more money to spend and invest as a result of US tax cuts enacted this year.

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