Markets News 

Dow, S&P set for 4th week of gains as traders shake off tax worries

“Several Republican senators have now expressed doubts about the tax overhaul that is expected to be put up for a final vote next week, according to The Wall Street Journal” writes Markets Reporter for marketwatch.com. U.S. stock futures advanced on Friday, on track to add to weekly gains as investors appeared to shake off the latest worries over progress for tax cuts.That puts both indexes on track for their fourth straight week of gains, even after ending lower on Thursday. Source: marketwatch.com Share This:

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Asian stocks track Wall Street declines; Kospi rebounds

“On Thursday, the index in the last 90 minutes of trading went from a 1.4% gain to finishing down 0.4%” writes Lucy Craymer for marketwatch.com. There was no one left to buy the stocks,” said SooMyung Kim, an equities-derivatives analyst at Samsung Securities.In Hong Kong, locally listed Chinese financial stocks, which have been among the market’s strongest performers this year, continued their recent pullback. Oil CLG8, +0.21%  were slightly higher in Asian trading, building on an overnight rebound.  Source: marketwatch.com Share This:

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News Stocks 

Asian stocks mostly lower as US tax bill uncertainty weighs

“Hong Kong’s Hang Seng shed 1.2 percent to 28,813.34 and the Shanghai Composite index lost 0.7 percent to 3,270.93” reports foxbusiness.com. Asian share benchmarks were mostly lower Friday as uncertainty over U.S. tax reform legislation outweighed upbeat data from Japan.Senator Marco Rubio vowed to vote against the bill, which gives generous tax cuts to corporations and the wealthy, unless child tax credits are expanded.KEEPING SCORE: Japan’s benchmark Nikkei 225 index dipped 0.6 percent to 22,553.22 but South Korea’s Kospi climbed 0.4 percent to 2,478.50. Source: foxbusiness.com Share This:

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Markets News 

Mortgage rates pause but appear poised to drift higher

“The government-backed mortgage-backer aggregates rates weekly from 125 lenders from across the country to come up with national average mortgage rates” reports washingtonpost.com. The Fed doesn’t set mortgage rates, but its decisions tend to influence them.Mortgage rates remained stuck in a holding pattern this week and have barely budged since October.The refinance index fell 3 percent, while the purchase index slipped 1 percent.But higher rates are not all bad, said Realtor.com senior economist Joseph Kirchner. “Despite decreasing affordability in an already pricey housing market, higher interest rates might have a…

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Is Trump Driving the Stock Market Rally?

“The America First Index has often moved in the opposite direction from other components of the Trump Bulls index” writes Raymond Fisman for nytimes.com. METHODOLOGY: The Trump Bulls portfolio consists of stocks that went up by more than the overall market on Nov. 9.The Trump Bears portfolio consists of stocks that went down relative to the overall market.Our general index, the Trump Bulls and Bears, tracks two portfolios of stocks: the Bulls (like Morgan Stanley), which investors initially expected would benefit disproportionately from Mr. Source: nytimes.com Share This:

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Micron stock rises after MKM says ‘favorable supply/demand environment’ to continue

“We believe that the continued favorable supply/demand environment will extend into 2018 and this, coupled with continued cost reduction catalysts specific to Micron, should ultimately yield multiple expansion,” he wrote” writes Emily Bary for marketwatch.com. Micron shares have gained 92% so far in 2017, while the Philadelphia Semiconductor Index SOX, -1.01% is up 36% and the S&P 500 Index SPX, -0.05% is up 19%. Source: marketwatch.com Share This:

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Futures News 

Dow shapes up to hit fresh record, with retail sales data in focus

“Those expectations are upbeat for the holiday season, after retail sales got off to a solid start on Black Friday weekend” writes Markets Reporter for marketwatch.com. Retail sales data could provide the next leg-up for equities, with investors watching to see whether the 2017 holiday shopping season got off to a solid start.The November retail sales data is expected at 8:30 a.m.The Dow Jones Industrial Average DJIA, +0.33% ended at a record for the fourth-straight session on Wednesday, closing up 0.3% at 24,585.43, after the Fed raised interest rates in…

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US stocks indexes close mostly higher after Fed rate hike

“The decline in financial stocks came even as the Federal Reserve raised its benchmark rate for the third time this year” reports foxbusiness.com. Packaged food and beverage stocks, health care companies and industrials shares accounted for much of the market’s modest gains.The Russell 2000 index of smaller-company stocks picked up 8.33 points, or 0.6 percent, to 1,524.45. Source: foxbusiness.com Share This:

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Crypto Futures News Regulators 

US futures post modest gains ahead of Fed meeting kickoff

“U.S. stock index futures pointed to a slightly higher open on Tuesday, as the Federal Open Market Committee (FOMC) starts a two-day policy meeting” writes unknown author for cnbc.com. The Fed could also deliver its own thoughts on the state of the tax bill during the meeting.Meantime, the FOMC will begin the first day of its two-day monetary policy meeting. Source: cnbc.com Share This:

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Asian shares fall back as investors cautious over Fed, China

“The S&P 500 index rose 0.3 percent to 2,659.99” reports foxbusiness.com. Shares were mostly lower in Asia on Tuesday as investors stepped back after several days of advances, erasing early gains.KEEPING SCORE: Japan’s Nikkei 225 index lost 0.3 percent to 22,866.17 while South Korea’s Kospi dropped 0.5 percent to 2,458.56.ENERGY: Benchmark U.S. crude gained 43 cents to $58.42 per barrel in electronic trading on the New York Mercantile Exchange.”The Fed sees enough strength in the overall economy, despite the lack of inflation, to still go ahead and continue to hike…

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