U.S. stock futures climbed on Friday after two consecutive days of losses as President Joe Biden unveiled considerations to jack up capital gains taxes, according to Markets Insider.
- Gains were recorded in futures connected to the Dow Jones by 0.2%, S&P 500 by 0.24%, and Nasdaq 100 by 0.18%.
- An analyst said the tax announcement triggered a sell-off, which does not take much to prompt given the high uncertainty in a choppy week.
- He said plans of higher taxes shook what was already an unsteady recovery, but chances of this passing in Congress could be “between slim and none.”
- In Europe, declines were recorded in the German DAX by 0.3%, the United Kingdom’s FTSE 100 by 0.26%, and the Euro Stoxx 50 by 0.22%.
- Economic data in the region scheduled to be released are April’s manufacturing data, the United Kingdom’s public sector borrowing, and first-quarter retail sales.
- In Asia, Hong Kong’s Hang Seng index closed 1.28% higher, and China’s Shanghai composed 0.26% higher on Friday, while Japan’s Nikkei 225 fell 0.58% on Thursday.