European markets are seen opening lower on Friday morning, as investors awaited the U.S. Senate’s vote on tax reform legislation.
Late Thursday, Republicans were forced to delay a vote on their tax bill only hours before a planned final vote. Lawmakers will rework the legislation through the evening in order to try and win over skeptical senators. Senate Majority Leader Mitch McConnell said the next in a series of roll call votes would take place Friday morning.
Meanwhile, major indexes on Wall Street made major gains in the previous session. The S&P 500 notched another record closing high while the Dow Jones Industrial Average topped the 24,000 mark for the first time.
Elsewhere, crude oil futures built on gains made Thursday after OPEC and non-OPEC producers agreed to extend supply cuts until the end of 2018. The world’s major oil producers also signaled a possible early exit from the deal if the market overheats.
Brent crude traded at around $62.91 on Friday morning, up 0.45 percent, while U.S. crude was trading at $57.61, up 0.35 percent.
Europe markets seen lower after vote on US tax bill delayed