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Good monday morning. Welcome to squawk alley here with me at post 9, michelle carusocabrera, mike santoli carl and sara have the morning off. First up, bitcoin open for trading yesterday on an exchange run by the cboe. Heavy traffic causing outages on the cboe website, while the exchange also halted trading temporarily due to extreme volatility what to expect from Bitcoin Futures after what a wild week for that Digital Currency. A lot of people thought once this opened up were going to see it fall because people would be shorting it, but thats not stopped the rise it hasnt happened, but its only been a few hours, so lets see what happens take a look where we are, its important to point out were trading at a nice premium to the underlying spot price here 18,000 now over that cash price is 16,700, its been fluctuating, but you have a good 1,200 premium or so this is whats ca ....
Is here to tell us when his fund will launch and at what price. If you have crypto fever, you dont have to look away from the screen we have our bitcoin watch fired up throughout this hour. First we start with the dow on fire both the dow and the s p 500 closing at a record high, the dow 150 points at the high both indices posting their fourth day of gains, with the help of tax cuts on the horizon. It looks like a deal on the bill is close lets get to ylan mui in d. C reporter melissa, republicans are closing in on the final version of the tax bill two sources tell me the corporate rate will land at 21 . Its unclear whether that will kick in right away or not until 2019 but that is slightly higher than the 20 rate that was in previous versions of the bill. The top individual rate, that would fall to 37 . Thats lower than the senates original proposal for a 38. 5 top rate the detection fduction for morte interest, would only apply to new loans. Existing mortgages would still be grandfat ....
Later on in the show, you wont want to miss it. First, the dow had a major milestone that even the president had something to say about. We did in fact break 25,000, very substantially break it, very easily. So i guess our new number is 30,000 but what it means is every time you see that number go up on wall street, it means jobs, it means success, it means 401 k s that are flourishing it also means americans are getting richer from the stock market the s p 500 opening the year with three Straight Record closes this is the first time thats happened since 1964. 54 years ago, for those keeping score. The dow and nasdaq on their own recordwreaki recordbreaking rallies. Could 2018 be better than 2017 how long can this euphoria on wall street last i remember 1964 like it was yesterday. It was yesterday for you. Ha ha ha. Ha ha ha. Dow 25,000 is a big deal. Why . People that typically wont be talking about the stock market are now talk ....