U.S. equities are trading mixed
U.S. equities are trading mixed in the wake of the U.S. abandonment of ACA healthcare reform following two more Republican defections overnight, leading Trump to confirm that he always backed allowing Obamacare to fail before replacing it. Dollar index sank 0.65% to 94.55 with lower U.S. yields as the Trump reform agenda was apparently stymied, though this could revive energy for a more consensual tax package. The Dow is 40-points lower, S&P sank 5-points and NASDAQ is 16-points lower in pre-market trade. Europe is defensive as well after a 0.9% drop on the Euro Stoxx 50 and 1.2% decline on the German DAX, though the UK FTSE 100 is flat. Asia saw the Nikkei reopen with a 0.6% decline, though the Shanghai Comp stabilized 0.3% firmer after yesterday's regulatory exodus. Goldman's surprise profit boost, along with that of BofA were overshadowed, while Netflix surged 11% after another gain in subscriber numbers. UnitedHealth rallied 2% after firmer earnings, guidance. After the 0.2% drop in import/export prices, the NAHB housing market index is on tap next.