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How Passing the Senate’s Tax Bill Could Lead to a Record High for the Dow Jones Today

nvestors are optimistic about the Dow Jones today following the Senate’s passage of the largest overhaul of the American tax code in 30 years.

Dow Futures are up 246 points this morning after every Republican senator except for Bob Corker, of Tennessee, voted in favor of the reform bill. But not every investor is optimistic. Here’s the truth about the Senate’s tax bill you can’t afford to miss…

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Here are the numbers from Friday for the DowS&P 500, and Nasdaq:

Index Previous Close Point Change Percentage Change
Dow Jones 24231.59 -40.76 -0.17%
S&P 500 2642.22 -5.36 -0.20%
Nasdaq 6847.59 -26.39 -0.38%

Now here’s a closer look at today’s most important market events and stocks, plus Monday’s economic calendar.

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The Five Top Stock Market Stories for Monday

  • Senate leaders pushed through tax reform over the weekend. The Senate version is different than the one passed by the House of Representatives last month. A committee will now work to resolve differences between the two bills and create a piece of legislation that must be approved by both the House and Senate before heading to President Donald Trump’s desk.
dow jones today
  • While Washington, D.C., prepares for dramatic changes in tax policy, Canada is preparing for a dramatic overhaul in social policy. The country is putting together its laws that will legalize recreational marijuana by mid-2018. We recently sat down with one of the top marijuana experts in the world to discuss the dramatic economic impact for ordinary investors. If you’re serious about making real money when the prohibition ends next summer, go here right now.
  • CVS Health Corp. (NYSE: CVS) announced it will purchase health insurance giant Aetna Inc. (NYSE: AET) for $69 billion over the weekend. The cash-and-stock deal will certainly generate a lot of attention on Capitol Hill, given its $77 billion price tag. It is the largest health insurance deal in history.
  • Crude oil prices slipped in pre-market hours as traders digested the latest report on U.S. production from Baker Hughes (NYSE: BHGE). On Friday, the energy giant announced that the number of U.S. rigs in operation hit 749. That figure represented a two-rig gain from the previous week and a more than 50% jump from the same period in 2016, when just 477 rigs were in operation. The WTI crude oil price today fell 0.8%. Brent crude dropped 0.7%.
  • The price of Bitcoin topped $11,500 over the weekend before retreating slightly. The surge came after regulators approved a plan by the Chicago Mercantile Exchange (CME) to launch Bitcoin futures on Dec. 18, 2017. In addition, Cantor Exchange, a subsidiary of Cantor Fitzgerald, has also been approved for Bitcoin binary options. Over the weekend, we saw dramatic movements in cryptocurrencies, including Siacoin, which surged more than 70% in a 24-hour span at one point on Sunday. The storage coin has generated a lot of buzz in recent weeks thanks to bullish outlooks around the web. Here’s more on what is moving the price of top cryptocurrencies.

Three Stocks to Watch Today: DIS, FOXA, FB

  • In other deal news, shares of Walt Disney Co. (NYSE: DIS) are up 1% on news that the company is exploring a deal to purchase assets from 21st Century Fox Inc. (Nasdaq: FOXA). The Wall Street Journal cited several anonymous sources that Fox is exploring the sale of its film and television divisions and some of its overseas media subsidiaries.
  • Facebook Inc. (Nasdaq: FB) is turning its attention overseas. The social media giant announced plans to create more than 800 jobs in London in the first stage of a hiring blitz in the United Kingdom. The announcement is seen as a big boost to the technology sector in the UK at a time that many firms grow increasingly nervous about the financial and social impact of the Brexit. Many analysts believe that the nation’s top tech talent may move to Germany or the United States in search of better-paying jobs.
  • Look for earnings reports from Ascena Retail Group Inc. (Nasdaq: ASNA) and Coupa Software Inc. (Nasdaq: COUP)

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