American futures inch up as House approves tax bill

American futures inch up as House approves tax bill

On Wednesday, Wall Street was set to start higher because Congress is supposed to vote on the final passage of the most ambitious tax overhaul for the last 30 years.

The S&P 500 futures rallied 0.29%, Dow futures tacked on 0.31%. At the same time tech heavy Nasdaq 100 futures acquired 0.35%.

Congress is believed to vote on the tax reform bill once again on Wednesday, right after lawmakers dared to have a Senate procedural measure violated. Donald Trump tweeted that if it’s passed, a White House news conference will be held at about 1:00 PM ET.

The tax bill would reduce corporate taxes from 35% to 21% that might encourage big businesses to spend more, thus stimulating the US economy.

Semiconductor Micron Technology Inc turned to be among the top winners in pre-market trading, soaring 6.64% after a firm first quarter earnings publication. At the same time beer maker Anheuser-Busch Inbev SA edged up 0.74%, IT firmGridsum Holding Inc tacked on 15.38%, On Track Innovations Ltd headed north 4.84%.

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