The major U.S. index futures are pointing to a mixed opening on Thursday, with stocks poised to extend the lackluster performance seen in the previous session.
Traders may remain reluctant to make significant news amid lingering uncertainty about the final Republican tax reform bill.
The Senate voted 51 to 47 on Wednesday in favor of a motion to go to a conference committee with the House. The vote came down strictly along party lines.
Senate and House lawmakers will need to reach an agreement addressing significant differences between their two bills.
Traders are likely to pay close attention to how the final bill deals with the corporate alternative minimum tax, which the House bill eliminates but the Senate bill maintains.
Following the weakness seen on Tuesday, stocks turned in a lackluster performance during trading on Wednesday. The major averages spent the day bouncing back and forth across the unchanged line.
The major averages ended the day on opposite sides of the unchanged line. While the Nasdaq rose 14.16 points or 0.2 percent to 6,776.38, the Dow dipped 39.73 points or 0.2 percent to 24,140.91 and the S&P 500 edged down 0.30 point or less than a tenth of a percent to 2,629.27.
The choppy trading on Wall Street came as traders expressed uncertainty about the economic impact of the Republican tax reform plan.
Concerns about the possibility of violence in the Middle East also weighed on the markets as President Donald Trump announced he is officially recognizing Jerusalem as the capital of Israel.
Trump said in remarks from the White House’s Diplomatic Reception Room that the U.S. would also begin preparations to move its embassy from Tel Aviv to Jerusalem.
“I have determined that it is time to officially recognize Jerusalem as the capital of Israel,” Trump said. “While previous presidents have made this a major campaign promise, they failed to deliver. Today, I am delivering.”
Trump said he has determined that the move is in the best interests of the U.S. and…