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The Market In 5 Minutes: Historic Tax Bill Looms Large, Bitcoin Cash, Amazon Boxes, And More

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The Market In 5 Minutes: Historic Tax Bill Looms Large, Bitcoin Cash, Amazon Boxes, And More
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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. (NASDAQ: 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 (NYSE: AA) from Neutral to Outperform
  • Morgan Stanley upgraded Quorum Health (NYSE: QHC) from Underweight to Equal-Weight
  • Longbow upgraded U.S. Steel (NYSE: X) from Neutral to Buy
  • Credit Suisse downgraded Gilead (NASDAQ: GILD) from Buy to Neutral
  • Morgan Stanley downgraded Aetna (NYSE: AET) from Overweight to Equal-Weight
  • KeyBanc downgraded DDR (NYSE: DDR) from Overweight to Sector Weight

This is a tool used by the Benzinga News Desk each trading day — it's a look at everything happening in the market, in five minutes. To get the full version of this note every morning, click here.

Posted-In: Market in 5 minutesNews Global Top Stories Pre-Market Outlook Markets Best of Benzinga

 

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