US Stocks Pointed to a Lower Opening Amid Worries Over US Tax Legislation
- Trade Magnates Team
- Nov 10, 2017
- 1 min read
Trade Magnates - US stocks pointed to a lower opening on Friday pulling back from all-time highs amid worries over US tax legislation. Investors seemed to be worried after reports on Tuesday suggested that Senate Republicans may delay corporate tax cut till 2019 and the Senates are expected to uncover their tax plan today.
The Dow Jones Industrial Average fall by 0.18%, S&P falling by 0.35% and the Nasdaq 100 futures declined by 0.38%.
Hopes that the US President Trump’s administration will deliver major US tax reforms had been one of the key factors driving the markets higher since the beginning of this year. Any delay or changes to the expectation as to when the new tax reform will be uncovered might influence trader’s thoughts and market directions.