London — The dollar jumped on Monday versus the currencies of other developed and emerging nations while Treasury yields rose and Wall Street was primed for another record-setting day after the US Senate voted to approve a wide-ranging tax overhaul. European stocks opened higher, with French, German and British markets up between 0.9 and 1.4%, anticipating a strong New York session — futures for the Dow Jones, S&P 500 and Nasdaq indexes rallied as much as 0.9%. Markets are reacting to the Senate’s approval on Saturday for the biggest tax law change since the 1980s, taking President Donald Trump closer to his goal of slashing taxes for businesses. "With this tax deal, markets could pick up speed into the end of the year. It looks like the ingredients for a year-end rally are there," said Angelo Meda, head of equities at asset manager Banor SIM in Milan, predicting equity gains of between 3% and 4%. Tax cut hopes have been a significant tailwind this year for US stocks, although the m...
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