Wall Street mixed ahead of HoR vote

Eren Sengezer FXStreet

Although major US equity indices had a weak start to the day following yesterday's major drop, they were able to erase their losses as the investors are getting ready for tomorrow's important House of Representatives vote on passing the legislation to dismantle Obamacare.

In case the bill fails to pass the Congress, tax cuts, and spending increases promised by the Trump administration could be delayed, underpinning the post-election rally yet again. However, White House Press Secretary Sean Spice, during the daily briefing said that the President Donald Trump believes health care bill will pass House of Representatives on Thursday and added that piece by piece, member by member, they are getting 'much closer' to health care deal, allowing the markets to relax a bit.

Forex today: UK terror attack, RBNZ on hold, markets pile into safe-haven Yen

Additionaly, West Texas Intermediate oil was able to recover the losses despite another increase in U.S. crude supplies, settling above $48 and limiting the fall in the S&P 500 energy index, .SPNY.

At the end of the day, the Dow Jones Industrial Average was down 6.71 points, or 0.03%, to 20,661.30, the S&P 500 remained unchanged at 2,342.25 and the Nasdaq Composite gained 27.82 points, or 0.48% percent, to 5,821.64.

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.

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