Good morning,
U.S. stock futures were sharply lower this morning, as investors assess lower oil prices and the ongoing tax reform battle……..My gut feeling is that Republicans will get this through. Watch the Senate. Get ready for big rebound if passed.
House Republicans will vote on their tax reform bill tomorrow, aiming to take a step toward overhauling the tax code, House Majority Leader Kevin McCarthy confirmed. President Trump plans to go to Capitol Hill tomorrow to make the case for tax cuts before the vote. The proposed Republican tax reform bill will include repeal of the Affordable Care Act’s individual mandate requiring most Americans to have some form of health insurance or pay a tax penalty, GOP leaders say.
Turning to Politics –
RNC pulled support, but the Alabama Senate candidate Roy Moore still has a big lead over Democratic challenger Doug Jones, according to a poll released Tuesday.
Moore leads Jones by six points, 49 percent to 43 percent, in a poll of likely voters released by FOX 10 News. Eight percent of likely voters in the state remain undecided, the poll found. Fifty-one percent said they were undecided or that the allegations against Moore made no difference in their vote.
- Here’s Why A Special Counsel For Hillary, Comey Or Uranium One Probably Isn’t Happening
- Morris & McGann: Was Trump Tower Meeting with Don Jr. a Setup?
- Schiff Says House Intel Committee ‘Learned A Great Deal’ During Fusion GPS Testimony
Stock Picks
- Bio-techs OBSV and ZYNE are looking good for long term trades.
Target (TGT) shares were losing about 5 percent in premarket trading after the retailer issued a disappointing holiday sales forecast. However, Target did report better-than-expected earnings, revenues, and same-store sales for its third quarter.
Quarterly SEC filings show that Warren Buffet’s Berkshire Hathaway (BRK.A) cut its stake in IBM (IBM) further; this time by 32 percent or just over 17 million shares. Berkshire also increased its stake in Apple (AAPL), adding nearly 4 million shares to its holdings.
General Electric (GE) was under pressure in the premarket, after falling more than 12 percent over the past two sessions following the unveiling of new CEO John Flannery’s turnaround plans. GE touched its lowest level in nearly six years in Tuesday trading. (WSJ)
Airbus has turned its fortunes around at the Dubai Airshow with a mammoth order of 430 jets worth a total $49.5 billion. Investor Bill Franke of Indigo Partners signed the preliminary order this morning to buy planes, comprising 273 A320neos and 157 A321neos. (CNBC)
It’s a busy day for economic data, starting with three reports at 8:30 a.m. ET: October retail sales, consumer prices, and the Empire State manufacturing index. September business are out at 10 a.m. ET.
Sincerely,
source https://capitalisthq.com/stock-market-and-politics-update/
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