Global stock markets ended the week on a positive note. Benchmark indices in US grew marginally by 0.5% during the week.
The Republican-led U.S. Congress gave final approval on Wednesday afternoon to the most sweeping overhaul of the U.S. tax code in 31 years. President Donald J. Trump is expected to sign the bill into law sometime in the next two weeks. The tax reform proposes to cut corporate tax rates to 21% from the present 35%. Less corporate tax could essentially mean that the corporates could become more competitive when compared to other countries leading to additional inflows of money in US. This could in-turn spurt the economic growth and create new jobs.