Gold Silver Reports – Stocks were mixed amid growing optimism that U.S. legislators are on the brink of passing sweeping tax cuts.
- 1 Republican Senator Susan Collins of Maine said she’ll back the GOP tax bill, virtually ensuring her party has the numbers necessary to pass the legislation. The House is scheduled to vote Tuesday on the tax bill following a floor debate that morning. It then goes to the Senate, where Republican leaders intend to bring it up as soon as they get it.
- 2 Sterling was steady after advancing on Monday as U.K. Prime Minister Theresa May addressed parliament about her plans for Brexit. Bitcoin was hovering below $19,000 after futures debuted Monday on the CME Group Inc.’s venue, the world’s biggest exchange.
- 3 Stocks
- 4 Currencies
Republican Senator Susan Collins of Maine said she’ll back the GOP tax bill, virtually ensuring her party has the numbers necessary to pass the legislation. The House is scheduled to vote Tuesday on the tax bill following a floor debate that morning. It then goes to the Senate, where Republican leaders intend to bring it up as soon as they get it.
“Equity markets have started the week in an extremely enthusiastic manner anticipating tax reform holiday cheer,” said Stephen Innes, a senior FX trader at Oanda. “There’s a definite buzz on the street as we approach the finishing line as there are few if any signs of buyer fatigue.”
Sterling was steady after advancing on Monday as U.K. Prime Minister Theresa May addressed parliament about her plans for Brexit. Bitcoin was hovering below $19,000 after futures debuted Monday on the CME Group Inc.’s venue, the world’s biggest exchange.
Australian bonds fell after the minutes of the central bank’s December meeting signaled increased confidence that the economy will strengthen next year, laying the ground for a potential interest rate hike in 2018.
Among the key events investors will be watching this week:
- The U.S. and U.K. publish updated estimates of third-quarter GDP.
- The Bank of Japan meets on Thursday to set monetary policy.
- And these are the main moves in markets:
Stocks
- Euro Stoxx 50 futures were little changed in early European trading. Futures on the S&P 500 Index were little changed after the underlying gauge rose 0.5 percent to a record 2,690.16.
- Japan’s Topix Index was 0.2 percent down at the close in Tokyo, as was the Nikkei 225 Stock Average.
- Hong Kong’s Hang Seng Index rallied 0.8 percent, while the Shanghai Composite Index was up 0.9 percent.
- South Korea’s Kospi index was down 0.1 percent.
- Australia’s S&P/ASX 200 Index was up 0.5 percent.
Read More: Dollar Eyes Weekly Drop on Tax; Asia Stocks Fall
Currencies
- The Bloomberg dollar index was little changed.
- The yen was little changed at 112.60 per dollar.
- The euro was up 0.1 percent at $1.1798.
- The pound was flat at $1.3386 after advancing 0.5 percent Monday. – Neal Bhai Reports