U.S. stock futures were rising Thursday, Aug. 31, as Wall Street awaited data on jobless claims and personal incomes and spending and looked ahead to the release on Friday, Sept. 1, of the monthly U.S. jobs report. The economic calendar in the U.S. on Thursday includes weekly Jobless Claims at 8:30 a.m. ET and Personal Income and Outlays for July at 8:30 a.m. European shares traded higher while Asian shares ended the session mixed following an improvement in Chinese factory activity.
Donald Trump on Wednesday, Aug. 30, called on Congress to cut the federal corporate tax rate to 15% from 35% as part of sweeping tax reform he wants enacted by the end of the year.
The tax cut would be part of four main goals the president said should be included in a tax overhaul: simplifying the tax code, making it more competitive with tax regimes in other countries, providing tax relief for middle-class families and encouraging U.S. companies to bring back trillions of dollars in profits "parked overseas."
Aside from the call for a new corporate rate, Trump provided no specific changes he wants in the reform.
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