Wall Street lower on health care vote delay
After moving in the green for most of the day, major US equity indices inched lower on Thursday as lawmakers postponed a vote on a healthcare bill, raising concerns over the ability of Trump's administration to move on with pro-growth policies including tax cuts and infrastructure spending.
Forex today: yen was top performer in an otherwise healthcare bill let down
However, this delay buys Trump extra time to try and convince the conservative House Freedom Caucus, which is known to the strongest opponents of the bill. According to a Republican leadership notice, the voting will take place on Friday. Furthermore, House Rules Committee Chairman Pete Sessions suggested that the vote could be delayed until Monday.
Technology shares stayed under pressure while the banks couldn't hold on to gains after rising 1%. The US dollar index remained relatively calm around 99.50, and the U.S. 10-year bond yield rose to 2.418% (+0.90%).
The Dow Jones Industrial Average dropped 4.72 points, or 0.02%, to 20,656.58, the S&P 500, which rose by as much as 0.45%, lost 2.49 points, or 0.11%, to 2,345.96 and the Nasdaq Composite fell 3.95 points, or 0.07%, to 5,817.69.
Headlines from the U.S. session
Author
Eren Sengezer
FXStreet
As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.
