July 18, 2017
The administration's failure to push through health care reform in the Senate heightens questions over plans for tax cuts and fiscal stimulus, two issues that are now being pushed into fiscal year 2018. Stocks were mixed with the Dow posting a modest 0.3 percent loss to 21,574. There was greater reaction in the capital markets as money moved into the safety of bonds, where the 10-year Treasury yield fell 5 basis points to 2.26 percent, and out of the dollar as the dollar index fell 0.5 percent to 94.65 for its lowest showing since August. Oil held support at $46 and ended near $46.50.