NEW YORK (AP) — A compromise plan to extend tax cuts for all Americans is giving stocks a lift.
President Barack Obama announced an agreement with Republicans Monday night to extend the Bush-era tax cuts for two years, while also renewing unemployment benefits and granting a one-year reduction in Social Security taxes.
The deal still requires Congressional approval. Yet it gives investors encouragement, since tax cuts were set to expire at the end of the year.
Ahead of the opening bell, Dow Jones industrial average futures are up 83, or 0.7 percent, to 11,436. Standard and Poor’s 500 index futures are up 11, or 0.9 percent, to 1,233. Nasdaq 100 futures are up 18, or 0.8 percent, to 2,209.
