Tax Reform and Company Earnings -- This Is What You Need to Know

This is what you need to know on Friday:

1. European stocks open firmly higher Friday as gains for the U.S. dollar, supported by Senate passage of a budget blueprint that could lead to $1.5 trillion in tax cuts, hold down regional currencies and support equity benchmarks.

2. Senate lawmakers voted to approve a 2018 budget blueprint that not only paves the way for tax cuts, but also potentially allows for tax legislation to be passed by a simple Senate majority.

3. Asian markets and U.S. stock futures were mostly higher in overnight trading after the U.S. Senate approved a fiscal 2018 budget plan.

4. Daimler AG  (DDAIF)  posted third-quarter earnings that were largely in-line with forecasts but said sale at its trucks division, which it plans to separate into a stand-alone business until, will increase sharply in the final three months of the year.

5. U.S. equity futures are bullish after a torrid week for global equities.