Europe markets are expected to open slightly higher on Tuesday morning, following a record-setting session on Wall Street amid heightened expectations U.S. lawmakers could pass sweeping tax legislation.

The FTSE 100 is poised to open up by 5 points at 7,537; the DAX is seen 18 points higher at 13,333 while the CAC 40 is set to open little changed at 5,413, according to IG.

In recent weeks, global markets have fluctuated in response to mixed expectations about President Donald Trump‘s ability to push through a signature tax overhaul. On Monday, Wall Street surged to fresh record highs as the Republicans’ tax bill appeared to move closer to passage through Congress.

The proposed U.S. tax legislation would slash corporate tax rates to 21 percent, down from 35 percent, with investors betting this will boost company profits and trigger share buybacks.

On the data front, Germany will see the release of IFO business survey at around 9 a.m. London time. The IFO business climate surged to an all-time high of 117.5 in November.

In commodities, oil prices edged higher on Tuesday, supported by an ongoing North Sea pipeline outage and prolonged OPEC-led production cuts. However, soaring output in the U.S. appeared to limit gains. Brent crude traded at around $63.53 a barrel, up 0.19 percent, while U.S. crude was seen at $57.32, up 0.28 percent.