09:51

US markets have moved ahead once more, although after Monday’s rise as the Republican tax bill seemed to gain enough converts to pass in Congress, the increase is understandably more muted.

As the crucial vote approaches, the Dow Jones Industrial Average opened 49 points or 0.2% higher, although it is currently only around 5 points higher. The S&P 500 added 0.14% at the open.

But the Nasdaq composite dipped 0.03%. The Republican plans, including a hefty cut in corporation tax, will benefit businesses but technology firms may miss out. They hold plenty of cash off-shore and will have to pay a higher tax on this next year. However they could always repatriate the proceeds of overseas operations, which has been a factor so far in Nasdaq’s strength.

On that note, it’s time to close for the day, barring any major developments. Thanks for all your comments and we’ll be back tomorrow.