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Senate Republicans Gain Momentum on Tax Reform Budget Measure

“Without a budget and reconciliation, Republicans would need 60 votes in the Senate, where they hold a 52-48 majority” writes Min Read for reuters.com. WASHINGTON (Reuters) – U.S. Senate Republicans on Monday gained crucial support for a vote on a budget resolution that is vital to President Donald Trump’s hopes of signing sweeping tax reform legislation into law before January. Source: reuters.com Share This:

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Netflix shares gain after company adds more subscribers than expected in Q3

“Netflix continued added 5.3 million subscribers in the quarter, an increase compared with the 3.6 million the company added during the same quarter last year” writes Trey Williams for marketwatch.com. The company had guided for net additions of 4.4 million and FactSet’s subscriber adds consensus was 4.5 million.NFLX, +1.60% shares popped more than 2.5% after the streaming giant reported earnings for the third quarter in which it added more subscribers than expected. Source: marketwatch.com Share This:

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Markets News Stocks 

Credit Suisse sets 2018 forecast for stock market, predicts big double-digit gain

“Credit Suisse forecasts the S&P 500 will rise 13 percent by year-end 2018 from Monday’s close, according to the firm’s latest market strategy report” writes Tae Kim for cnbc.com. As the stock market hit another record high Tuesday a top Wall Street firm is telling its clients the nine-year bull market will continue for at least one more year … and with force.”Our market views are predicated on a supportive economic backdrop, with benign recessionary risks and a pickup in near-term indicators,” strategist Jonathan Golub wrote in a note to…

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Markets News Stocks 

Dow books 150-point gain as stock market overcomes ‘act of pure evil’ to end at records

“U.S. stock benchmarks closed at all-time highs on Monday afternoon, as equities resumed a steady run-up that could set the tone for the final three months of 2017” reports marketwatch.com. Companies with high tax rates may get a boost if President Trump’s plan goes through. Source: marketwatch.com Share This:

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News Oil 

Oil prices edge down on data showing production gain, stronger dollar

“Oil prices pulled back on Monday, weighed down by a strong dollar and data pointing to rising global production” writes Neada Salvaterra for marketwatch.com. December Brent crude UK:LCOX7 the global oil benchmark, fell 95 cents, or 1.6%, to $55.84 a barrel on London’s ICE Futures exchange.The front-month contract was up about 2% for last week, up 7.7% for September and logged a quarterly rise of 10.5%, according to FactSet data. Source: marketwatch.com Share This:

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News Oil 

Oil prices lower after strong third quarter as Sept. OPEC output rises

“Middle Eastern oil producers are concerned the recent price rise will only stir U.S. shale producers into more drilling and push prices lower again” reports foxbusiness.com. The contract reached its highest in more than two years early last week, and posted its fifth consecutive weekly gain.Oil prices fell on Monday, pausing for breath after posting gains of as much as 20 percent in the third quarter, after a survey pointed to a slight increase in OPEC production in September.Drillers added six oil rigs in the week to Sept. 29, bringing…

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