Welcome, everybody. Congress approved the most sweeping overhaul of the u. S. Tax code in decades. Altering the finances for businesses big and small and households across america. The rewrite is the biggest legislative achievement for republicans since they gained control of the white house and both chambers of congress. The Senate Passed the measure overnight. The house passed it again after a snag that we told you about yesterday forced another vote today. Its been an amazing experience, i to tell you. Hasnt been done in 34 years. But actually really hasnt been done because we broke every record. Its the largest i always say the most massive but its the largest tax cut in the history of our country. And re the president hasnt signed the bill into law quite yet. And he may wait until january. The timing depends on the outcome of separate ta speaking of which, agreeing to a spending bill is the next legislative challenge. And lawmakers only have a few days to do it or risk a governmen
Blown through nasdaq 7,000, were talking about s p 3,000 by the end of the year. Look how much we already moved we got a lot of milestones falling by the wayside lets get to bob pisani with some of the latest on todays action bob . This is quite an unusual week not just in the intensity and how much the s p is up, but the fact that everything seems to be working. Let me show you the winners this week and just the dow so, whatwere the two biggest losers of 2017 it was ge and ibm. Whats the two biggest movers up this week . Ge and ibm okay often get a little reversion to the mean, but two of the biggest movers in the dow last year was boeing and ibm so they had absolutely outstanding years and they, too, are up big. You get my point everything seems to be working this week. Its a little eery. Look at the major sectors today. S p up over 2 for the week. Small caps are pretty well, too. Growth is up, and value is up at the same time. Doing well thats kind of odd and even all the cyclical n