Futures firm after tax hike proposal, business activity data eyed
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By Shivani Kumaresan (Reuters) – U.S. stock index futures edged higher on Friday as investors awaited business activity data to gauge the pace of economic recovery, a day after reports that President Joe Biden planned to almost double the capital gains tax spooked markets. Wall Street’s main indexes sank nearly 1% in the previous session following reports of the plan to raise taxes on the wealthiest Americans, including the largest-ever increase in levies on investment gains. The benchmark S&P 500 and the blue-chip Dow are on course for weekly declines, after four straight weeks of gains. With…

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HEDGE accordingly