Stocks jumped on better-than-expected earnings reports
The start of the US trading session has been positive for traders of Tesla and Microsoft.
American equities point to modestly lower start
On Wednesday, Wall Street futures declined. It’s because a fresh bunch of corporate earnings reports was set to be published amid strengthening uncertainty over a potential American tax reform plan.
Markets were quite jittery reacting to reports that a major corporate tax cut currently negotiated within US tax reforms plans could be postponed for one year.
Market sentiment has been spurred during in recent session by expectations that the American administration's tax cuts could drive the US economy. The bill can potentially become the greatest overhaul of the American tax system since the 1980s.
It would also appear to be the first key legislative win since Republicans “seized ” the White House and Congress in January, although doubts are still actual over the scale of borrowing required to fund the bill as well as the timetable for its passage this month.
The blue-chip Dow futures slumped 0.09%, while the S&P 500 futures declined 0.12%. Additionally, the tech-heavy Nasdaq 100 futures dipped 0.02%.
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