Equities Rebounded as House Passed Its Version of Reform Bill. Bigger Hurdle Follows

Passage of the tax reform plan in the House of Representatives and strong macroeconomic data facilitated the rebound in equities. Wall Street gained for the first time in three days, recording the biggest gain in two months as led by the rally in tech stocks. Nasdaq jumped+1.29%, while the DJIA and S&P 500 indices rose +0.8% and +0.82% respectively. US Treasuries fell, sending yields higher.

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Equities Rebounded as House Passed Its Version of Reform Bill. Bigger Hurdle Follows