Points. If they come the big open in all three indexes. Lauren stocks are trading in europe. A downmarket acrosstheboard at the cac in paris on the quarter 1 . Gerri in asia to stocks in japan managing nowhere. Higher commissar repeat the nikkei higher, but all other lower. China hang seng in kospi. Lauren tax incentives at the big boost to profits that the stock is jumping. Fbn am is starting right now. Gerri 5 01 a. M. In new york. Wednesday from december 20th. Century wilson first Cheryl Casone. Lauren good to see you. Christmas is creeping closer. Are you prepared . Let us begin with breaking news overnight. The senate has passed a tax bill. The vote 5148 from all republicans voting in favor. Senator john mccain battling brain cancer was absent from the vote. Senate Republican Leaders celebrating their victory. The stock market is up, optimism is high, coupled with the tax reform, america is ready to Start Performing as it should have for a number of years. This is an historic mome
Im Carl Quintanilla post 9, new york stock exchange. What a show. Very busy hour ahead on squawk alley. Exclusive ceos with sanjay mean stitch fix ceo white house preparing for vote on tax reform following yesterdays procedural snag. El ylan mui is on capitol hill. Right now lawmakers are debating and voting on proerm measures the real meat of that vote will not happen until roughly noon. Every republican in the senate overnight did vote to support the tax bill one of the last to get on board was jeff flake of arizona. He put out a statement just recently saying he would have written a different bill, that he does believe lowering the u. S. Corporate rate will help make america more globally competitive. One provision that didnt make it into the bill was president trumps pledge to end the preferential treatment for carried interest that pledge was the victim of the weve been trying to cut carried interest, weve probably tried 25 times. Why not we hit opposition in that big White Buildi
2. 48 our roadmap begins with futures on the rise as the tax bill passes the senate set to pass the house again. Well get the latest on what the highly controversial plan means for business and individuals. Fedex shares are up on strong earnings and ceo laying out how he believes the new tax plan will benefit his country. Bitcoin in bear market territory. Well look whats driving the wild xring swings and one crypto is out. One step away from the president s desk, the senate pass the gop bill along party lines after amending it because of a procedural snag legislation goes back to the house for a revote slated to take place in a few hours. The president will hold a News Conference afterward gary cohn, the chief white house economic adviser spoke to mike allen a few moments ago. This is what he said about taxes and how the stock market is spend responding. I think theres more momentum in the stock market. What do those two baskets tell you that tax cuts are not priced in the stock market
Today the dow dropped, and the nasdaq edged down. 04 what does it mean to fit the profile . The company has to be a direct beneficiary of new tax law and it needs to come from a cohert under loved by wall street in order to garner support from todays portfolio. What stocks meet that criteria the craziest ones, thats what let me give you a classic example of crazy consider the stock of newcorp, the steel maker. Newcorp has been tough to handle in 2017 rising 27 for the year, far behind the averages and spending well below that level because the company has performed at a less than optimal rate weve been advising members. It could be a rocky road basically you had to hold your nose and buy it because it will eventually come back in favor of the wall street fashion show last thursday before the open, newcorp gave you an update on its Fourth Quarter telling you it was going to earn between 50 and 55 cents a share now, mind you, newcorp had already forecasted the report slightly down number
Support unless children of Illegal Immigrants are protected from deportation. And more evidence of corruption at the highest echelons of the fbi and the Justice Department. Fbi Deputy Director Andrew Mccabe reportedly playing dumb today on who funded the discredited trump dossier. That despite the reported existence of documents on the dossiers funding with mccabes very own signature upon them. We take up the efforts to root out the deep state, talking tonight with congressman matt gates. Our top story, President Trump delaying victory, celebrating the passage of his signature legislative achievement, tax reform. Its been an amazing experience, i have to tell you. It hasnt been done in 34 years but actually really hasnt been done because we broke every record. Lou the president coming away with a cut of the Corporate Tax rate from 35 to 21 , a cut in the top tax rate for individuals from 31. 6 to 37 , a doubling of the standard deduction in child tax credit, and a big reduction in taxe