U.S. stocks open lower ahead of Senate tax bill vote

NEW YORK, Dec. 1 (Xinhua) -- U.S. stocks opened lower on Friday, as investors awaited a Senate vote on tax reform.

The U.S. Senate Budget Committee on Tuesday approved the Republican tax bill to overhaul the U.S. tax code, sending it to the Senate floor for a vote.

Republicans previously hoped they could pass a plan by late Thursday or early Friday, but were forced to delay voting after a setback. The next roll call vote was set for 11 a.m. (1600 GMT) on Friday.

U.S. stocks fell in the early trading on Friday, after Senate Republicans delayed voting on their tax bill.

Shortly after Friday's opening bell, the Dow Jones Industrial Average decreased 10.87 points, or 0.04 percent, to 24,261.48. The S&P 500 lost 0.98 point, or 0.04 percent, to 2,646.60. The Nasdaq Composite Index was down 16.59 points, or 0.24 percent, to 6,857.38.

U.S. equities have posted solid gains and notched record highs several times since Election Day, partially boosted by expectations of lower corporate taxes.

The Dow Jones Industrial Average broke above the 24,000 mark on Thursday, as investors had high expectations that Republicans were on the verge of the biggest tax code overhaul in about three decades.

"We remain positive on U.S. equities given the strength of corporate earnings, progress on corporate tax reform, and a broadly supportive international economic climate," Humberto Garcia, head of global asset allocation for Bank Leumi USA, told Xinhua. Enditem