What's Happening Today:
- Follow a mostly positive close in Asia and currently a mixed session in Europe, the U.S.-based futures are pointing to a lower open this morning. The markets continue to focus on domestic U.S.-based headlines as a tax plan has been submitted by President Trump and accompanied by the blessings of the Republican party. Among the plan's details is a corporate tax rate decrease to 20%. The implication now is to understand the speed with which the plan can be passed through the legislative branch. A number of analysts have already weighed in on the specifics of the plan including the effect on short and longer-term employment growth catalysts.
- Globally, Japan Prime Minister Abe has essentially set up a snap election for October 22 of this year. In the UK, discussions continue with respect to the Brexit transaction. A presser is anticipated today that will update the general public on the progress made by both the UK and EU.