The gop tax plan. But they are still in a Holding Pattern right now. You see people on capitol hill speaking at the moment. But guess what . They have not begun that procedural vote or debate over getting to the procedural vote, which would then allow the debate to actually start overall. We are going to let you know the minute that happens. Supposed to have begun at 2 00 p. M. Eastern. Didnt happen. Were now at 3 01 eastern. We have our cameras trained on that situation. But guess what . We havent gotten to the trickiest part of this tax reform yet. Getting the house and the senate to agree on the same bill. Congressman kevin brady is the godfather of the house tax bill. The chairman of the house and means committee. May have to turn into king compromiser to get it done. He is going to be with us live since the Senate Passed the bill yesterday. Im about to ask him what his battle plan will be to make this merger meld. All of this happening as the Dow Jones Industrial closes in on 24,0
20 hour clock will run out on debate. The senate could vote sometime tonight. Senator has been involved in all of the wheeling and dealing. We will ask where the wiggle room might be when it merges with the house plan. Would he go for Corporate Tax rate of not 20 but maybe 22 . There is a lot of chatter at the hour inside the beltway. We will get the lay of the land live from capitol hill coming up. Its not just 24000, bit coin is on a roller coaster ride of epic portions losing one fifth of its value in just the past 12 hours. Is this a pump and dump in play or just basic volatility for the brandnew crypto currency. The inner bit coin is all in on bit coin currency. Why he decided to open a halfmillion dollar bit coin currency. Mike, did you sell or buy on the debt . Senator john mccain said hes the yes on the Senate Tax Reform bill and you can point to that move that possibly has so much to do with what the dow is running up right now. Its up 285 points right now. It had been up more
Dow, it will be an eight straight month of gains for the dow and s p 500. Strugglest for the Technology Sector once again. Lets look at what happened overnight in asia. You will see that the nikkei ended up by close to 0. 6 points. Stocks in china under pressure the hang seng down by 1. 5 points the shanghai down by 0. 6 . In europe, in the early trading, it looks like there are green arrows across the board. Biggest gains from the major averages come out of germany where the dax is up almost by 0 0. 8, the ftse up by a quarter percentage points. Right now looking at crude oil prices opec and nonopec producers, ie russia, are expected to announce an extension of output cuts until 2018 a lot of concerns about that, whether there will be Sticking Points along the way thats why crude oil was under pressure yesterday things have picked up this morning with a gain of 1 for wti. Up 53 cents to 57. 82 well get a live report from the meeting of opec in vienna. Thats coming up at 6 30 a. M. Eas
Come back. Alix abigail the dow was down 1. 4 , but was scarlet asking was that is the trillion dollar question in terms of uncertainty. The kneejerk reaction we saw the headlines crossed around Michael Flynn with a mans was a massive selloff. This was on pace for the worst day since may. The russell 2000 has been down more than 2. 5 . The russelloday, 2000 had been up on the week. At those lows, it turned lower on the week. We are looking at weekly gains for the s p 500, the dow, and the russell 2000, but this tech heavy nasdaq is still on pace for weekly declines, down 7 10 of 1 . Lots of uncertainty about what this could mean. It is interesting that this comes as we are also hearing about tax reform. It seems as though it may not derail policy, but that will be something investors will have to figure out Going Forward. Lots of uncertainty, we are a risk off tone. But that being said, from a world stock perspective, this is incredibly interesting. This chart is the all world stock in
Its the latest runup or the least runup is as a result of strong growth strong profit and until last night it looked like a sure fire yes on tax cuts. Theres new momentum begun this morning, however, on the tax plan. And ron johnson and both smart and both republicans they are now a yes. Add that to the news from kevin earlier and we could see history unfold again on this program this morning. Now this it was not murder. It was not manslaughter. The jury has decide that when jose shot and killed kate steinly it an accident now wera Financial Program but we deal in politics and we will be covering extensively sanctuary cities in my opinion allow this outrage to happen. Varney company is about to begin. Im going to start with the markets because thats the all important factor on todays program and looks at them down 2 points for the dow industrial. Clearly off their lows down over 100 much earlier on this morning but remember were following a huge record close yesterday. Way over 24,000.