December 3, 2017 / 11:27 PM / a year ago

U.S. equity index futures open higher after Senate passes tax bill

A trader works on the floor of the New York Stock Exchange, (NYSE) in New York, U.S., December 1, 2017. REUTERS/Brendan McDermid

NEW YORK (Reuters) - U.S. stock futures opened higher on Sunday after the U.S. Senate approved a tax overhaul bill early Saturday.

S&P 500 e-minis EScv1 were up about 0.6 percent, Nasdaq 100 e-minis NQcv1 were also up about 0.6 percent, and Dow e-minis 1YMcv1 up more than 0.7 percent.

Saturday’s Senate vote takes Republicans and President Donald Trump a big step closer to their goal of slashing taxes for businesses.

The gains should hold since they reflect the Senate passage of the tax bill, said Nicholas Colas, co-founder of DataTrek Research.

“We’re still on a short schedule - Congress has days to reconcile House and Senate bills,” Colas said. “But markets want to believe it will happen.”

Reporting By Jessica Resnick-Ault; additional reporting by Megan Davies in New York; Editing by Mary Milliken

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