FX.co ★ US Futures Waver as House Passes Trump Tax Bill

US stock futures remained largely stable on Thursday, with major index contracts lingering near unchanged levels as investors continued to assess concerns regarding the country's fiscal situation. The House narrowly approved President Trump's new tax proposal, projected to increase the budget deficit by nearly $3 billion over the next decade and entail a $4 trillion hike in the US debt ceiling. This legislative package now moves to the Senate, with a vote expected by August. Simultaneously, market observers are keeping a close eye on trade developments and are anticipating the upcoming release of the preliminary S&P Global PMI data, providing an early snapshot of US business activity for May. In premarket moves, Apple, Microsoft, and Tesla showed minimal changes, while Nvidia saw a 0.7% rise, Amazon edged up by 0.6%, Meta climbed 0.4%, and Alphabet led the tech sector gains with a 1.2% increase.