All eyes are on today’s health care vote in the US House of Representatives – assuming it is not postponed. Passage of the bill, as you no doubt are hearing everywhere, will be seen as a big vote of confidence for the President, and will boost the chances of his much-anticipated economic changes happening soon. Should the bill fail to pass, we should expect more selling in the stock market, a result of Trump being stopped with his first big legislative effort. The stakes seem pretty high.
Today stocks were modestly higher most of the day, but sold off slightly on the news that the vote had been postponed – a sign of it not having enough votes to pass. How big of a deal this turns out to be remains to be seen, as at least the bill lives to fight another day.
Earlier, Asian stocks finished quietly higher, and European shares were up more ... Log in or subscribe to continue reading.