U.S. equities and stock exchange traded funds strengthened Friday as investors braced for the final tally on the healthcare bill that is seen as a dry run for President Donald Trump’s ability to pass his promised legislations through Congress.
The S&P 500 Index, along with related funds including the SPDR S&P 500 ETF (NYSEArca: SPY), iShares Core S&P 500 ETF (NYSEArca: IVV) and Vanguard 500 Index (NYSEArca: VOO), were 0.2% higher Friday.
Meanwhile, the Health Care Select Sector SPDR (NYSEArca: XLV), the largest healthcare exchange traded fund, was up 0.1%.
After a one-day postponement, the vote to replace the Affordable Care Act, or Obamacare, is expected to go through in Congress, reports Riva Gold for the Wall Street Journal.
Many observers are using the bill’s outcome as a measure of the Trump administration’s ability to pass through other policy changes, such as tax reform and infrastructure spending that could stimulate growth and keep the momentum going in U.S. equities.