1. Shutdown for Christmas? Republicans scored a big win this week by passing a sweeping overhaul of the U.S. tax system. But they'll need to act quickly to avoid a government shutdown.
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| Where U.S. stocks are heading | | Dow
Futures | | Nasdaq
Futures | | S&P
Futures | | +23.00 | | 0.00 | | +4.25 | | +0.09% | | 0.00% | | +0.16% | | | |
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| | | Japan | | China | | U.K. | | Nikkei 225 | | Shanghai Composite | | FTSE 100 | | -25.62 | | +12.45 | | +19.21 | | 22,866.10 | | 3,300.06 | | 7,544.43 | | -0.11% | | +0.38% | | +0.26% | | | |
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| | | Biggest Winners | | TechnipFMC PLC | +1.41% | | | | Coty Inc | +1.13% | | | | Freeport-McMoRan Inc | +0.85% | | | | Bank of America Corp | +0.85% | | | Biggest Losers | | PG&E Corp | -9.72% | | | | Qualcomm Inc | -0.87% | | | | Carnival Corp | -0.62% | | | | Skyworks Solutions Inc | -0.44% | | | | | | | |
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| News: What you need to know about the markets | | | | | | | Shutdown threat; Catalonia vote; Brexit bites | By Ivana Kottasová
Thursday, December 21st, 5:01am | | | | 1. Shutdown for Christmas? Republicans scored a big win this week by passing a sweeping overhaul of the U.S. tax system. | | | | But they'll need to act quickly to avoid a government shutdown. | | | | Congress must pass a stopgap funding bill before midnight on Friday, or risk an embarrassing closure of government agencies. | | | | Republicans in the House and Senate -- who have competing legislative priorities -- were still at loggerheads over a potential deal on Wednesday evening. | | | | One potential outcome is another short-term budget extension that will keep funding at current levels. | | | | 2. Election in Catalonia: The Spanish autonomous region of Catalonia will choose a new local government on Thursday. | | | | The vote was called in October when Madrid took control the Catalan government after lawmakers there made a unilateral declaration of independence. | | | | The saga has taken a toll on Spanish markets and revived fears about the stability of the eurozone. | | | | 3. Brexit weakness: The number of cars manufactured in Britain fell 4.6% in November, according to the Society of Motor Manufacturers and Traders. | | | | Domestic demand for cars declined more than 28% from the previous year, while exports rose 1.3%. | | | | The industry group blamed a lack of clarity over Brexit for the weakness. | | | | The British government has not said what kind of a trade deal will it seek with the EU -- its biggest trading partner -- after it leaves the bloc in March 2019. | | | | 4. Global market overview: U.S. stock futures were flat. | | | | European markets opened lower, while Asian markets ended mixed. | | | | U.S. markets closed slightly lower on Wednesday. The Dow Jones industrial average and the S&P 500 shed 0.1%, while the Nasdaq was little changed. | | | | Before the Bell newsletter: Key market news. In your inbox. Subscribe now! | | | | 5. Earnings and economics: CarMax, ConAgra and Finish Line will publish earnings before the open. NIKE will follow after the close. | | | | The final estimate of third quarter U.S. GDP will be released at 8:30 a.m. ET. Economists are expecting growth of 3.3%. | | | | U.S. data on initial claims will be published at the same time. | | | | The Bank of Japan left key interest rates unchanged at its meeting. | | | | Download CNN MoneyStream for up-to-the-minute market data and news | | | | | | | |
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Thursday -- Nike earnings; Final estimate on 3Q U.S. GDP
Friday -- El Gordo lottery in Spain | | | | | | | |
| Key Market Stats | Latest | Today's Change | | | Oil | $57.98 | -0.11 / -0.19% | | | Gold | $1,268.60 | -1.00 / -0.08% | | | 10-yr | 2.50% | +0.03 / +1.38% | | | Euro | $1.19 | -0.00 / -0.01% | | | |
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