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European markets seen opening higher after Easter break
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Some Democrat senators do not support increasing corporate tax rate to 28%
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API report expected to show an inventory draw
Futures markets point to a higher opening of the European cash session in spite of a mixed performance of Asian equities. German DAX is seen opening at a record high after fresh records were reached by S&P 500 and Dow Jones yesterday. Today will be the first session for most European stock exchanges following the Easter break. However, economic calendar is rather empty. The Sentix index for April and the unemployment rate for February from the euro area will be released in the morning but these releases rarely have an impact on the markets. API report on oil inventories in the evening may trigger some short-term volatility on the oil market.
US stimulus is getting closer but there are some obstacles on the road. Democrats confirmed that they can pass a new stimulus bill via a reconciliation process that does not require a 60-vote majority in the Senate. Instead, a 50-50 result with Vice President tie-breaker vote would be enough to pass a new bill. Nevertheless, Democrats would need all of their senators on board and some of them, led by senator Manchin, do not support increasing the corporate tax rate to 28%. Manchin said the highest rate he can accept is 25%.
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Create account Try a demo Download mobile app Download mobile app9:30 am BST - Euro area, Sentix index for April. Expected: 6.8. Previous: 5
10:00 am BST - Euro area, unemployment rate for February. Expected: 8.1%. Previous: 8.1%
9:40 pm BST - API report on oil inventories. Expected: -1.1 mb
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