1. Tax bill crunch time: Republican efforts to make drastic changes to the U.S. tax code are center stage in Washington. It's a full court press: President Trump is expected to meet with congressional leaders, and the House will start debate on its bill.
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| Where U.S. stocks are heading | | Dow
Futures | | Nasdaq
Futures | | S&P
Futures | | +56.00 | | +23.25 | | +8.25 | | +0.24% | | +0.37% | | +0.32% | | | |
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| | | Japan | | China | | U.K. | | Nikkei 225 | | Shanghai Composite | | FTSE 100 | | +322.80 | | -3.27 | | +3.57 | | 22,351.12 | | 3,399.25 | | 7,376.18 | | +1.47% | | -0.10% | | +0.05% | | | |
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| | | Biggest Winners | | Cisco Systems Inc | +5.86% | | | | Viacom Inc | +1.79% | | | | Citigroup Inc | +1.35% | | | | Regions Financial Corp | +1.27% | | | Biggest Losers | | L Brands Inc | -3.98% | | | | Mattel Inc | -3.60% | | | | Norwegian Cruise Line Holdings Ltd | -1.47% | | | | Chesapeake Energy Corp | -1.30% | | | | | | | |
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| News: What you need to know about the markets | | | | | | | Tax bill crunch time; Markets rebound; VW plan in China | By Ivana Kottasová
Thursday, November 16th, 4:52am | | | | 1. Tax bill crunch time: Republican efforts to make drastic changes to the U.S. tax code are center stage in Washington. | | | | It's a full court press: President Trump is expected to meet with congressional leaders, and the House will start debate on its bill. | | | | If successful, the tax overhaul would be the Republicans' first substantial legislative victory under Trump. | | | | The major question for investors is whether the House and Senate Republicans will be able to reconcile their competing versions of the plan without losing votes. | | | | One sign of trouble: Sen. Ron Johnson became the first Republican to formally come out against his party's plan on Wednesday. | | | | 2. Markets rebound: Global markets are swinging higher after several days of rough trading. | | | | U.S. stock futures were up and European and Asian markets were higher. Oil prices rebounded to gain 0.3%. | | | | The Dow Jones industrial average and the S&P 500 closed 0.6% lower on Wednesday. The Nasdaq shed 0.5%. | | | | 3. Volkswagen goes electric: Shares in Volkswagen opened 2% higher in Frankfurt after the automaker announced plans to spend, together with a local partner, $12 billion on electric cars in China. | | | | China is Volkswagen's biggest single market. The company delivered 303,800 vehicles in the country in October, an annual increase of 9.2%. | | | | Before the Bell newsletter: Key market news. In your inbox. Subscribe now! | | | | 4. Stock market movers: Cisco Systems shares were higher in extended trading after the company said it expects revenue to jump after two years of declines. | | | | 5. Earnings and economics: Best Buy, J.M. Smucker, Viacom and Wal-Mart will release their earnings before the open, while Gap, Haynes Intl and Williams-Sonoma will follow after the close. | | | | The Bank of England is holding a forum in Liverpool. Officials will discus the state of the U.K. economy and how the central bank's policies affect Britons. | | | | Download CNN MoneyStream for up-to-the-minute market data and news | | | | | | | |
| | | | | | Thursday -- Best Buy, Walmart, Gap, Viacom earnings
Friday -- Abercrombie & Fitch earnings | | | | | | | |
| Key Market Stats | Latest | Today's Change | | | Oil | $55.20 | -0.13 / -0.23% | | | Gold | $1,278.10 | +0.40 / +0.03% | | | 10-yr | 2.33% | -0.05 / -1.93% | | | Euro | $1.18 | -0.00 / -0.02% | | | |
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