Global & US Markets React to Trump's Tax Cut Plan

Global shares and the dollar rose as the U.S. House narrowly passed President Trump's $4.5 trillion tax-cut plan, prompting market optimism. Treasury yields increased, and U.S. stock futures rebounded. Sentiment improved amid U.S.-Ukraine mineral deal talks. Nvidia's earnings report is anticipated amidst AI sector concerns.

Global shares and the dollar saw an uptick on Wednesday following the U.S. House of Representatives' advancement of President Donald Trump's $4.5 trillion tax-cut plan. The move increased market optimism as it awaits Senate approval.

The market reacted positively, with U.S. stock futures showing a rebound. The Nasdaq futures rose by 0.7%, with the S&P 500 futures up by 0.5%. European shares marked a second day of increases, led by the pan-continental STOXX 600 reaching a new high.

In the tech sector, Nvidia's earnings report due later is highly anticipated. The report is expected to shed light on AI demand as investor skepticism rises due to slow tech infrastructure returns. Any signs of weakness could impact investor sentiment on AI stocks.