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Earnings for S&P 500 companies are expected to have increased by 11.8 percent in the recently ended quarter, with the biggest gain from the energy sector, according to Thomson Reuters I/B/E/S.

"This market feels this week like a deep breath before the onslaught of earnings reports," Clemons said. "This is a wait-and-see mode with a healthy amount of optimism."

Delta Air Lines <DAL.N> shares rose as much as 5.96 percent after the company predicted a double benefit from the U.S. corporate tax cut - savings on its own bill and an uptick in business travel as it expects companies to spend tax savings. It also reported an upbeat quarterly profit.

https://finance.yahoo.com/news/wall-street-set-open-higher-b...

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2018 will be the tax cut growth year. The effects of the cuts will ripple throughout the economy.
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