IN THE NEWS
2017 will go down in history as one of the best years for the financial markets, with risky bets such as equities clocking in strong returns: Link
Republicans are on the brink of a historic corporate tax cut deal this week, but optimistic investors will soon be wondering what’s next on the agenda for President Donald Trump's administration. The White House may now turn its attention to a familiar target, according to Height Securities: NAFTA: Link
Congress stands on the verge of passing a $1.5 trillion tax cut and the largest structural overhaul of the tax system since 1986: Link
Americans are ordering more than ever from Amazon.com Inc. AMZN this holiday season—but they may have fewer boxes on their doorsteps: Link
India’s capital market regulator is talking with the government and central bank about how to regulate cryptocurrencies, its chairman said on Wednesday: Link
Lost in the hubbub over the feeding frenzy in cryptocurrencies and related stocks is the original digital coin itself: Link
OPEC’s desire to clear the global oil inventory overhang may come sooner than expected, enabling the group to exit from its production cuts early, according to Goldman Sachs: Link
ECONOMIC DATA
- US MBA mortgage applications w.e. 15 Dec -4.9% vs -2.3%
- Data on existing home sales for November will be released at 10:00 a.m. ET.
- The Energy Information Administration’s weekly report on petroleum inventories in the U.S. is schedule for release at 10:30 a.m. ET.
ANALYST RATINGS
- Credit Suise upgraded Alcoa AA from Neutral to Outperform
- Morgan Stanley upgraded Quorum Health QHC from Underweight to Equal-Weight
- Longbow upgraded U.S. Steel X from Neutral to Buy
- Credit Suisse downgraded Gilead GILD from Buy to Neutral
- Morgan Stanley downgraded Aetna AET from Overweight to Equal-Weight
- KeyBanc downgraded DDR DDR from Overweight to Sector Weight
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