Here is what you need to know.
Trump will introduce his tax plan. The plan, which could slash corporate taxes to as low as 15%, is expected to be a broad outline and will likely include provisions for infrastructure spending and a tax credit for childcare, according to Politico’s Nancy Cook and Ben White.
The Nasdaq tops 6,000 for the first time. The tech-heavy index put in its first close above the 6,000 level on Tuesday, and is now up 11.9% so far in 2017.
Fed rate hike odds are soaring. World Interest Rate Probability data provided by Bloomberg shows a 72.6% chance the Fed will raise rates in June or sooner. That’s up from 43.7% one week ago.
UK government debt is at its lowest level since the financial crisis. The government’s debt load has fallen by 20 billion pounds over the past year to 52 billion pounds, the lowest since before the 2008 financial crisis, The Time Says, citing data from the Office for National Statistics.
Credit Suisse is raising cash. Switzerland’s second-largest bank said in a statement on Wednesday it would raise around 4 billion Swiss francs ($US4 billion) by offering new shares to investors.
The owner of Ugg boots is up for sale. Decker Outdoors announced it is exploring strategic alternatives, including a sale, that have the “potential to unlock further value” for shareholders.
Chipotle’s sales grow for the first time since the E. coli crisis. Same-store sales at restaurants open for at least one year rose 17.8% year-on-year (+15.5% forecast) after a 29.7% drop a year earlier. Both revenue and earnings were also ahead of estimates.
US Steel is taking after reporting an unexpected loss. US Steel shares are down 17% ahead of the opening bell after the company reported an adjusted loss of $US0.83 per share versus the Wall Street expectation of a gain of $US0.35. Revenue was also light, coming in at $US2.73 billion versus expectations of $US2.95 billion.
Stock markets around the world trade mixed. Japan’s Nikkei (+1.1%) led the gains in Asia and Germany’s DAX (-0.1%) is slipping in Europe. The S&P 500 is set to open up 0.1% near 2,391.
Earnings reporting is heavy. Anthem, Boeing, Northrop Grumman, PepsiCo, and Twitter are among the names reporting ahead of the opening bell while Buffalo Wild Wings releases its quarterly results after markets close.
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