NEW YORK — US stocks are expected to keep rising in 2018 because a massive drop in the corporate tax rate is seen boosting the economy and corporate profits, but strategists say sizable gains could either be short-lived or elusive. The bull market is on track to mark its ninth birthday in March, with the S&P 500 climbing 20% for 2017 — its biggest increase since 2013. The drop in the corporate tax rate in 2018, to 21% from 35%, is seen by many as the biggest factor for the stock market next year. Yet 2018 share gains are expected to be smaller than 2017 with the S&P 500’s price/earnings ratio — a measure of stock prices against expected profits — is around its highest level since June 2002. Many on Wall Street cite potential pitfalls even though they see no signs of a recession. “We’ve had six years in a row where stocks have (outperformed) earnings, and I think we break that streak with stocks going up but not as much as earnings,” said Robert Doll, chief equity strategist at Nuve...
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