Senate approves a budget vehicle for tax cuts
The dollar jumped and US shares scored a 6th weekly gain as bets that Donald Trump will be able to pull of his tax cuts, after the Senate approved a budget vehicle for them. All major US indices hit record highs.
Here’s what caught our eye among stocks:
S&P 500 gained 0.5% at the close of trading in New York.
Stoxx Europe 600 Index added 0.3%.
Nikkei 225 Stock Average increased less than 0.05% to the highest in about 21 years.
MSCI Emerging Markets added 0.2%.
Massive moves among currencies, led by the greenback:
The dollar added 0.6%.
The euro crumbled by 0.7% to $1.1774.
The pound added 0.2% to $1.3185.
The yen slumped 0.9% to 113.52 per dollar, the weakest in 14 weeks.
Haven commodities were on the retreat this time, being chased by the bullish oil:
WTI crude added 0.4% to $51.47 a barrel.
Gold slumped 0.7% to $1,281.52 an ounce.
Copper barely changed at $3.168 a pound.