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"The bill now moves to the Senate, where we believe it will
clear the 60-vote hurdle after some political and procedural
posturing," analysts at BTIG said.
At 5:41 a.m. ET, Dow e-minis were up 21 points, or 0.06%, S&P
500 e-minis were up 7 points, or 0.17%, and Nasdaq 100 e-minis
were down 3 points, or 0.02%.
Even after the passage of the bill, trading remained in a narrow
range as investors focused on economic indicators, which will
set the tone for the U.S. Federal Reserve and provide more
details on the impact of its aggressive interest rate-hiking
cycle on the economy.
The ADP National Employment Report later in the day is expected
to show private payrolls likely increased by 170,000 jobs in
May, after 296,000 additions in April.
This will arrive before the Labor Department's closely watched
May jobs report, due on Friday, which could decide whether a
rate hike occurs.
The likelihood of a 25-basis point increase at the Fed's June
13-14 policy meeting fell to about 37% after comments by the
central bank officials, who were leaning toward a momentary
pause in hikes. [FEDWATCH]
Comments from Fed Governor and vice chair nominee Philip
Jefferson and Philadelphia Fed President Patrick Harker on
Wednesday pointed to their inclination toward a rate hike
"skip".
Among early movers, Salesforce Inc shares fell 5.5% in premarket
trading after posting its slowest pace of revenue growth in 13
years.
(Reporting by Shreyashi Sanyal in Bengaluru; Editing by Shounak
Dasgupta)
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