Saturday, 25 March 2017

Dollar, stocks inch up as U.S. healthcare vote back on

The dollar recouped a little lost ground on Friday amid signs a delayed vote on President Donald Trump's healthcare bill would go ahead later in the day, though it remained unclear whether it would pass.
Investors regard the vote as test for the Trump presidency that could show whether it can muster the backing needed to push through fiscal measures central to its economic agenda.

European bourses were seen opening a shade firmer while S&P 500 futures ESc1 added 0.25 percent as investors dipped a toe back into risk trades after a week of wild mood swings.

Australia bounced back from a tough few days to be up 0.8 percent , while MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was all but flat.

Japan's Nikkei .N225 added 0.8 percent, encouraged by a slight softening in the yen. A Reuters poll out on Friday also showed confidence among Japanese manufacturers rose for a seventh straight month to a three-year high.

Trump will get a second chance to try to close the deal with Republican lawmakers on dismantling Obamacare in a high-stakes vote on a new healthcare bill later in the day.

Some in the markets suspect a failure to pass the bill could endanger Trump's promises of tax cuts and stimulus so beloved by Wall Street and U.S. corporates.

Adding to the unease was a Reuters report that the Trump administration is preparing new executive orders to re-examine all 14 U.S. free trade agreements, including those in Asia, to aid American companies.

After falling sharply mid-week, Wall Street had lapsed into waiting mode on Thursday with the Dow .DJI down 0.02 percent. The S&P 500 .SPX lost 0.11 percent and the Nasdaq .IXIC 0.07 percent.

No comments:

Post a Comment