u.s. house representatives approve bill thursday repeal major part obamacare replace republican healthcare plan hand president donald trump big legislative victory set tough fight senate stephen wood chief market strategist russell investments new york strike market breathe sigh relief nod approval think progress individual corporate tax cut come end 2017. positive economy market think knot floss get legislation do expect see sloppiness legislative process focus fundamentals valuation currently high equity space outlook unite state good need good fundamentals justify current equity valuation europe increasingly interest equity perspective one would comfortable europe compare u.s. elections consequences think first manifestation would foolish say reinvigorate trump ... early week main headline budget obama-type budget instead anything promise campaign republicans develop cohesion go see domino effect like get onboard healthcare reform stop us try get money wall tax reform go agreeable president agenda think way invigorate it guy lebas chief fix income strategist janney montgomery scott philadelphia bite lose perception house healthcare reform bill positive financial market propose repeal surcharge roughly 3.9 percent investment income high-income individuals affordable care act bill go senate market odds passage least version repeal-and-replace senate high go tough sell senate largely non-event bond market gear tomorrow job report yellen might say randy frederick vice president trade derivatives charles schwab austin texas think anything republicans get do accomplish popular unpopular show ability make progress get things do work together obviously big divisions democrats republicans within republican party put idea tax reform little bite close reality simply show figure way negotiate work together joseph krist partner credit specialist court street group research new york mean satisfy members congress make primary campaign issue want say want repeal obamacare vote policy standpoint virtually meaningless bill everything see virtually impossible pass senate think really impact fundamentals drive people healthcare ideas come election people look small standalone rural hospitals saw wall badly position healthcare reform go forward whether obamacare remain due cost reduction measure conversely people look size really important factor whether large institution large chain consolidation already come whether repeal really big factor public finance fix income perspective still want big balance sheet large pool cash diversity revenues morning go market expect house go pass do one several different things trump try get accomplish way go tax reform something go drag probably next key thing aside geopolitical things go on far traders investors talk healthcare bill affect position want do rick meckler president libertyview capital management jersey city new jersey fact could pass make much difference real risk near term so-called trump rally failure pass know market really focus healthcare big issue think really focus tax plan pass healthcare would bode poorly tax plan fact could pass healthcare even pass house pass narrowly think necessarily mean tax plan likely come through ken polcari director nyse floor division neil securities new york pass house fine go senate know senate go tough time even though pass one certainly do deal yet obamacare still much alive intact market really flat necessarily think surprise news report today yesterday people expect high-fiving cheer stuff congress still go senate go run problems market bid time reason really take hit head ceiling hit head ceiling anything go cause catalyst go french election sunday night listless trade moment nobody make big huge bet one way other stock 500 remain little change day bond 2- 10-year treasury yield hold high day forex dollar index tick session low instantview house republicans pass revise obamacare overhaul