STREAMING NOW: Watch Now

Tax bill finale; Market records; Bombardier dispute

1. Tax bill finale: Republicans are very close to delivering a huge tax overhaul.Party leader...

Posted: Dec 19, 2017 2:51 PM
Updated: Dec 19, 2017 2:51 PM

1. Tax bill finale: Republicans are very close to delivering a huge tax overhaul.

Party leaders agreed on the final text of their tax bill last week and made it public on Friday. The House is expected to vote on Tuesday, and the Senate will follow soon after.

The bill, which is expected to pass on party lines, could be on President Trump's desk before Christmas.

The measure drops the corporate tax rate to 21% from 35%, repeals the corporate alternative minimum tax and restructures the way pass-through businesses are taxed.

2. Markets surge: All three main U.S. stock indexes hit record highs on Monday as investors cheered the tax bill's progress.

The Dow Jones industrial average added 0.6%, the S&P 500 gained 0.5% and the Nasdaq advanced 0.8%.

The Dow, which has jumped more than 25% in 2017, is now within touching distance of 25,000 points.

Stocks have rallied this year because of strong economic growth and hopes that Trump would roll back regulations and overhaul the tax code.

U.S. stock futures were pointing higher on Tuesday.

3. Bombardier tariff ruling: The U.S. Department of Commerce is set to rule on tariffs that could be placed on Bombardier's C-series passenger jet.

Boeing launched a trade complaint against Bombardier earlier this year, accusing its Canadian rival of selling the C Series airliner at "absurdly low prices."

Bombardier denies that it has engaged in unfair trade practices.

4. Global market overview: European markets opened mostly higher, while Asian markets ended mixed. Stocks in South Korea and Japan were lower, while China's markets posted gains.

U.S. crude futures jumped 0.6% to trade at $57.60.

Before the Bell newsletter: Key market news. In your inbox. Subscribe now!

5. Companies and economics: Carnival and Darden Restaurants will release earnings before the U.S. open, and FedEx will follow after the close.

Pfizer shares were higher premarket after the company announced a $10 billion stock buyback on Monday.

Shareholders in the London Stock Exchange will vote on the future of embattled chairman Donald Brydon. The hedge fund TCI Fund Management, which owns just over 5% of the LSE, has sought to oust Brydon.

The U.S. Census Bureau will publish its housing report for November at 8:30 a.m. ET.

Germany's Ifo Institute has released its latest business climate survey. It said the mood among German business leaders is "excellent, but not quite as euphoric as last month."

Download CNN MoneyStream for up-to-the-minute market data and news

6. Coming this week:
Tuesday -- Fedex, Darden and Carnival report earnings
Wednesday --
General Mills earnings
Thursday -- Nike earnings; Final estimate on 3Q U.S. GDP
Friday -- El Gordo lottery in Spain

Indiana Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 34574

Reported Deaths: 2134
CountyConfirmedDeaths
Marion9853578
Lake3616190
Allen161869
Cass15877
Elkhart132228
St. Joseph127434
Hendricks116971
Hamilton115993
Johnson1105108
Madison58659
Porter53928
Bartholomew51135
Clark50441
LaPorte43323
Howard40828
Tippecanoe4023
Jackson3891
Delaware38537
Shelby37322
Hancock33827
Floyd31839
Boone31535
Morgan27724
Vanderburgh2742
Montgomery24117
White2358
Noble23221
Clinton2321
Decatur22431
Grant21122
Dubois1993
Harrison19422
Henry18211
Greene16924
Vigo1698
Dearborn16821
Monroe16612
Warrick16628
Lawrence16324
Miami1401
Putnam1377
Kosciusko1351
Jennings1304
Orange12822
Scott1203
Franklin1108
Ripley1096
Marshall1082
Carroll932
Daviess8816
Steuben832
Wayne825
LaGrange812
Wabash782
Newton7810
Fayette777
Jasper671
Washington521
Jay520
Clay511
Fulton491
Rush472
Randolph473
Pulaski460
Jefferson451
Whitley423
Starke393
DeKalb371
Sullivan361
Owen351
Brown331
Perry330
Wells320
Benton300
Huntington282
Knox280
Tipton251
Blackford252
Crawford240
Fountain212
Switzerland200
Spencer201
Parke180
Gibson172
Posey160
Adams151
Ohio130
Warren121
Martin110
Vermillion100
Union90
Pike60
Unassigned0167
West Lafayette
Clear
73° wxIcon
Hi: 75° Lo: 65°
Feels Like: 73°
Kokomo
Clear
67° wxIcon
Hi: 73° Lo: 62°
Feels Like: 67°
Rensselaer
Clear
68° wxIcon
Hi: 74° Lo: 64°
Feels Like: 68°
Fowler
Clear
68° wxIcon
Hi: 74° Lo: 64°
Feels Like: 68°
Williamsport
Clear
72° wxIcon
Hi: 76° Lo: 64°
Feels Like: 72°
Crawfordsville
Clear
67° wxIcon
Hi: 74° Lo: 63°
Feels Like: 67°
Frankfort
Scattered Clouds
69° wxIcon
Hi: 74° Lo: 63°
Feels Like: 69°
Delphi
Clear
68° wxIcon
Hi: 74° Lo: 64°
Feels Like: 68°
Monticello
Clear
68° wxIcon
Hi: 73° Lo: 63°
Feels Like: 68°
Logansport
Clear
66° wxIcon
Hi: 74° Lo: 62°
Feels Like: 66°
Hot, humid weather with severe weather risk.
WLFI Radar
WLFI Temps
WLFI Planner

COVID-19 Important links and resources

As the spread of COVID-19, or as it's more commonly known as the coronavirus continues, this page will serve as your one-stop for the resources you need to stay informed and to keep you and your family safe. CLICK HERE

Closings related to the prevention of the COVID-19 can be found on our Closings page.

Community Events