Wall Street wavers ahead of the healthcare law vote

Economies.com
2017-03-23 15:40PM UTC

U.S. stock indices opened flat on Thursday as markets await the vote in Congress on the new healthcare law supported by the Trump administration, and in case of approval, it would open the door for more laws to pass quickly. 

 

Investors are interested in particular in corporate tax cuts laws and getting a huge stimulus package to develop infrastructure, which are all pending in the Congress backlog, and the success of passing the healthcare law would pave the way for the more market-oriented laws to pass as well. 

 

On the other hand, stocks were hurt after U.S. unemployment claims rose more than expected last week, rekindling tensions in the markets regarding the U.S. economy and how ready it is for more interest rates hikes this year. 

 

As for the dollar, it kept hovering near a seven-week low against a basket of currencies, after Fed Chair Yellen's speech today steered off monetary policy, in turn hurting the greenback. 

 

Standard and Poor's 500 fell 0.02%, or 0.57 points to 2,347.88, while Dow Jones shed 0.01%, or 0.79 points to 20,660.51. 

 

Tech-heavy NASDAQ inched down 0.08%, or 4.61 points to 5,817.03. 

American Markets News

Americas News

Markets

As the Fed prepares to issue decisions, traders expect largest S&P 500 movement since 2023
2024-05-01 09:28AM UTC
According to data gathered by Citibank, the S&P 500 is likely to move by nearly 1% today after ...
Americas News

Markets

Wall Street loses ground as US treasury yields build up lead
2024-04-30 16:26PM UTC
US stock indices declined on Tuesday as US treasury yields gain ground following ...
Europe News

Markets

UK FTSE 100 index soars to fresh record highs after positive updates
2024-04-29 11:56AM UTC
UK stocks rallied in London on Monday, expanding their gains for the third straight session with ...