US health vote seen as litmus test of Trump’s influence

<p> – Analysts see later Thursday as an acid test of President Donald Trump‘s future ability to deliver on his pro-business agenda.
Wall Street suffered heavy losses Tuesday as questions arose about Trump’s promises of huge tax cuts, $ 1 trillion spending on infrastructure and cutting red tape on business.
The rally in stocks since the November election has been based on Trump’s so-called pro-growth agenda.
Corporate tax cuts would likely boost earnings per share, as would deregulation by lowering costs, while also generating more investment.
Infrastructure reform would support industrial companies and boost economic growth.
Concerns also persist that the Trump administration may be distracted by an FBI investigation into possible Russian interference in the presidential election campaign and its connections to the Trump camp.
If the bill passes, it could depress safe-haven assets such as gold and US Treasuries and affect the healthcare sector.
A positive vote would benefit the major indices and their related ETFs.

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