the sfenate flaplan ylan reporter: we don t have to rely on sources because the senate version of the tax bill is now officially out. here is some of the key details. as we ve been reporting, it would delay the introduction of the corporate rate cut by one year to 2019 however, it would get down to 20% and stay there permanently it would also limit the ability of companies to deduct their interest, but give them full and immediate expensing for five years. the individual side of the senate plan is quite different from the house version of the bill the senate version has seven individual tax rates the top tax rate is 38.5%. the senate bill will also include a full repeal of the state and local tax deduction. now, that gives them a lot of money to play with to do some other things in the bill such as keeping that $1 million limit on the mortgage interest deduction. the house version of the bill had lowerered that for newly purchased homes. the senate version of the bill it ke
10-year, we have michigan confidence on the way in an hour futures pointing to a lower open, the fate of tax reform and progress spooking some invest investors. taking on netflix, disney s yet to launch screaming service. and forget black friday, the world s largest 24-hour online shopping spree getting under way in china today with more than $20 billion worth of sales forecasted futures are in the red looking to extend yesterday s sell off as uncertainty over tax reform appears to be taking hold on wall street the dow s drop was first in eight sessions and both on track to post their first weekly losses in about nine weeks some of the coverage over the senate bill, mike says looms a showdown looms between the senate and house. i think the challenges are more in focus than maybe the potential opportunities. i do think yesterday interday, you definitely got that little ripple lower when it seemed like there was going to be delay in the corporate tax rate cut but in g
and the guy who put billions of dollars to work in shale. what does he see as a potential growth opportunity. if you are shale, you have opec doing the heavy lifting now. totally. jonathan: you should be very happy with that. crude does not stabilize. these are the stores this totally. jonathan:morning scores this. euro-dollar stable. yields higher by a single basis point on the 10 year. david: time for the morning brief. we will get data on the u.s. economy. weekly jobless claims, wholesale inventories and the advanced good trade inventories for april. brainardrnor lael takes part in a discussion on the global economy in washington. thejim bullard speaks on u.s. economy and monetary policy in tokyo. at 1:00 the u.s. treasury will sell $28 billion in seven-year notes. coffee.w we have opec extending production after last year s agreement failed to limit the global oversupply. said nineoil minister months is a very safe bet. we found out that nine months with the same level
again, a moment of silence for the victims of the manchester bombing. political parties in the uk are expected to resume election campaigns this morning. new this morning the bbc is reporting that british police have stopped sharing information on the manchester bombing with the united states because of fears that leaks in the u.s. media could hinder the hunt for a possible bombmaker. at issue are pictures of the crime scene published by the new york times, including photos of the remains of the bag that was carried by the suicide bomber. prime minister theresa may will raise the issue with president trump today. this is one of the most important intelligence sharing efforts in the world. the expectation is that this will not last for long. if you see the picture on the cover of the new york times this morning, this is what has caused some of that outrage. pictures released and shared with the united states intelligence that wound up on the front page of the paper. the
our road map begins with the retail surprise. best buy, sears, williams sonoma, all with earnings beat. shares of best buy are surging. and mickey drexler is explaining how the j crew market missed the tech revolution. the s&p is on track for another fresh record close. opec agrees on the cut extension and oil is down. a lot of news on the retail front. best buy is up, helped by an unexpected increase in u.s. comps. williams sonoma is out with better than expected guidance and earnings beat and then sears coming in above forecast. although sales continue to slump. it s not often, jim, an 11.9 decline in comp is actually above expectations. yeah. look, sears is a big short squeeze whenever it goes up and people realize well, wait a second. even when they keep selling closing stores the existing stores have bad numbers. these are terminal numbers. i mean, i won t tell you that maybe you can close all of the stores and see the stock go up. but i have never i mean, ther