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19Dec2017 Pre-Market Commentary: Wall Street's Major Indexes Are Poised To Inch Fractionally Higher, Tax-overhaul Hopes Keep Futures Steady

Written by Gary

US stocks set for more records in continued tax-driven rally at the open (SPY +0.1%), building on gains in the past two sessions on hopes that Congress will vote for the biggest tax overhaul in more than 30 years.


Here is the current market situation from CNN Money

European markets are mixed. The FTSE 100 is higher by 0.21%, while the DAX is leading the CAC 40 lower. They are down 0.08% and 0.05% respectively.

What Is Moving the Markets

Here are the headlines moving the markets.

Tax-overhaul hopes keep futures steady

(Reuters) - Wall Street's major indexes were poised to inch higher at the open on Tuesday, building on gains in the past two sessions on rising hopes that the U.S. Congress will vote for the biggest overhaul of the country's tax system in more than 30 years.

Facebook makes German marketing push as hate speech law bites

BERLIN (Reuters) - Facebook is making a big marketing drive in Germany just as the country starts to implement tough regulations designed to clamp down on online hate speech.

Hershey, Campbell bet nearly $6 billion on healthy snacks makers

(Reuters) - Campbell Soup Co and Hershey Co on Monday unveiled deals totaling nearly $6 billion to buy healthy packaged snacks makers, the latest example of big U.S. food companies trying to cater to an increasing American preference for healthy foods.

Boeing-Bombardier spat puts U.S.-Canadian trade deals in spotlight

WASHINGTON (Reuters) - Boeing Co and Bombardier Inc traded barbs on Monday over the U.S. planemaker's claim that its Canadian rival benefited from billions of dollars in illegal government subsidies and dumped its newest jetliner in the United States at below cost.

Greenyard targets U.S. market with talks to acquire Dole Food

(Reuters) - Belgian fresh and frozen foods company Greenyard NV said on Tuesday it was in advanced negotiations to acquire Dole Food Company [DFCI.UL], the world's largest fruit and vegetable producer, confirming a Reuters report.

Central banks, trade and bubbles threaten the 2018 status quo

LONDON(Reuters) - After a year of relatively healthy global economic growth, economists are predicting pretty much the same for 2018 -- a neither too-hot nor too-cold Goldilocks scenario, but with little sight of the three bears.

ESPN President Skipper resigns to deal with substance addiction

(Reuters) - Walt Disney Co's John Skipper resigned on Monday as president of ESPN, the company's most important network, due to a problem with addiction.

London regulator says 'one or two issues' about accuracy of Uber's license details

LONDON (Reuters) - Transport for London (TfL) had "one or two" issues regarding the accuracy of details provided by Uber, a lawyer for London's transport regulator said on Tuesday during a hearing over the taxi app's appeal against the loss of its London license.

Amtrak safety record under scrutiny even before deadly derailment

(Reuters) - The fatal derailment of an Amtrak train south of Seattle on Monday is likely to intensify scrutiny of the national passenger railroad company's safety record, which was already under the microscope following a series of fatal incidents.

The Flawed Bull Case for Bitcoin

Even after taking full account of its technological advantages, the argument for bitcoin to keep rallying still falls apart.

The Climate for Coal Just Got Even Chillier

BHP, the world's largest mining company, has announced that it may withdraw from the World Coal Association, citing disagreements about climate change. Better profits in coal in the past 18 months shouldn't distract investors from the increasingly clear writing on the wall for the black stuff.

Get Your Groceries Online, Find Your Profits Elsewhere

Investors can expect more deals between supermarket groups and the tech industry as online orders grow.

The Wall Street Journal: Facebook abuses market dominance to collect data, Germany claims

Germany's top antitrust enforcer opened a new front against big tech firms on Tuesday when it said the way Facebook Inc. harvests user data constitutes an abuse of market dominance.

Capitol Report: Here are the winners and losers of the final version of the Republican tax bill

The final version of the Republican tax bill benefits most American taxpayers, at least until key provisions sunset. Those gains, however, still fall mostly to the wealthy.

Market Snapshot: U.S. stocks set for more records in continued tax-driven rally

U.S. stocks are set for a positive trading day on Tuesday, just a day after scoring records all around on rising expectations the highly anticipated tax bill will get its final signoff this week.

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To contact me with questions, comments or constructive criticism is always encouraged and appreciated:

gary@econintersect.com

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