The KUIK Morning Market Report for Monday, December 4:
Markets are mixed.
Index
Direction
Change
Units
Index
Time
Change
Dow Jones Industrial Average
Up
299
points
24,530
7:20 AM
S&P500
Up
0.7%
percent
2,661
Nasdaq Composite
Down
0.0%
percent
6,846
(2.00)
30 Year Treasury
Up
4
Basis Points
2.79
Annual Yield
The Republican tax plan is in the spotlight this morning. Early Saturday, the Senate passed the Republican-sponsored tax reform proposal almost entirely along party lines. It’s viewed as a big victory for President Trump. Hopes that the administration and Republicans in Congress would usher in a business-friendly tax overhaul have been cited as a driver for the stock market’s record-setting streak over the past year. The House and Senate now must agree on a single tax bill before it can be sent to the president to sign.
U.K. Prime Minister Theresa May arrived in Brussels for key meetings with top European Union officials as the two sides appear close to a breakthrough on Brexit negotiations. May offered fresh concessions in recent weeks to secure approval by other EU leaders that talks can begin on the future EU-U.K. trade relationship and on a post-Brexit transitional period. Britain has signaled it is willing to accept most EU demands on a financial settlement and differences have narrowed over the future rights of EU citizens in Britain and how to avoid a hard border with Ireland. EU leaders have said they want progress on all three issues before allowing Brexit negotiations to continue.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
