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It
was not clear late on Thursday evening that Trump and Republican
leaders had enough support to pass the bill, with Trump warning
lawmakers from his party that he will leave Obamacare in place
if they do not rally around him.
Investors fear that if Trump fails to get the bill through the
Republican-controlled Congress, it would mean his pro-growth
agenda of tax reform, infrastructure spending and capital
repatriation will face setbacks.
Those fears pushed Wall Street on Tuesday to its worst one-day
loss since before the U.S. presidential election. All three
major indexes are on track to post their first monthly declines
since October.
The CBOE Volatility index <.VIX>, Wall Street's "fear gauge",
closed at its highest level since Jan. 19 on Thursday.
The S&P has risen about 10 percent since Trump's election as
U.S. president.
Chicago Fed President Charles Evans and St. Louis Fed Chief
James Bullard are scheduled to make appearances later this
morning and their comments will be closely watched for clues on
the future path of interest rate hikes. The U.S. central bank
raised rates by 25 basis points last week.
Economic data expected on Friday includes durable goods orders
for February that is expected to dip to 1.2 percent from a 2.0
percent rise in the previous month. The data is expected at 8:30
a.m. ET.
Markit is scheduled to release its PMI numbers for March at 9:45
a.m. ET.
Shares of Micron Technology <MU.O> jumped 11.9 percent to $29.61
in premarket trading, a day after the chipmaker's
current-quarter revenue and profit forecast beat expectations.
Twitter <TWTR.N> was up 1.1 percent at $15.10 after the company
said it is considering whether to build a premium version of its
popular Tweetdeck interface aimed at professionals.
(Reporting by Tanya Agrawal in Bengaluru; Editing by Anil
D'Silva)
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