This is Bloomberg Markets middle east. Im yousef gamal eldin. What a week we have had off the back of the fed decision, and a dozen Central Banks around the world. Here is how the u. S. Equity session closed off. The s p index, dow jones, nasdaq. This is on optimism about the proposed u. S. Tax overhaul. Theres also a lot more volatility, 74 higher volumes than the daily average. Theres another event feeding into this, quadruple switching. It happens every quarter, futures and options on indices and individual shares. Then the bloomberg dollar index, a story of a stronger dollar, up. 4 , a major move, a fresh session highend the fifth day of gains. The u. S. Dollar gaining compared to all of its peers save for the kiwi dollar, which led weekly gains. Lets crossover in show you the other key Asset Classes, relatively. U. S. 10 year uninspiring. Gold, up. 3 . But look, the reality is you have traders dumping bullish bets at the fastest pace in five months. Do people care about the dollar
Welcome everybody scary situation there. The dow the s p and the nasdaq hitting new highs. If we close at another record high today it would be the 70th record close this year breaking the 1995 record for the most closing highs in any year. With the gains the dow is up more than 5,000 points this year that is obviously never happened check out the individual movers. Etf on pace for its best day since december 4th abercrombie leading the way. Best buy trading at an all time home and dr horton and berkshire hathaway, 300,000 a share and now 23 this year topping the s p 500. Wow. Lets get straight to the rally. On the floor of the nyfc. Big enthusiasm. You might have thought the tax bill was priced in but apparently not as he mentioned consumer earnings today are leading. Both benefiting from the tax bill a fairly broad rally the only thing not big is the volume more like Charlie Brown Christmas Tree size. Modest yet still shining bright. Take a look at the all time highs. 58 on the s p 5
Stocks giving up early gains ahead of the tax vote. The dow transports did manage in an intraday record high before turning lower. Energy and Consumer Staples the best performing sectors. Real estate utilitys the biggest laggards as we are seeing the biggest rise in the ten dayyearold darden restaurant rallying, beating earnings estimates navistar is soaring to 10 the truck maker comfortably beating profit estimates revenues also beat navistar calling 2017 a breakthrough year of the company. Shares of chicago iron tanking, being bought by Mcdermott International for 6 billion in stock. The two companies provide construction and Engineering Services for the oil and Gas Industries that stock down almost 7 . Thank you very much, melissa. Welcome everybody, im tyler mathis mathisen we begin with breaking news. The house all set to vote on the big tax bill in the next half hour the biggest change to the u. S. Tax code since 1986 or thereabouts. It will affect every business and every househ
Abigail today, we are looking at modest gains. It we have the dow s p 500, higher by. 4 . It comes after the attack to form bill passes. Investors thinking rightly or wrongly that the 1. 5 trillion in proposed tax cuts will trickle through into the economy and help the stock market more with shares rising on the day. Take a look at bitcoin. Volatility there. Is hurting many of the bitcoin and blockchain related. Ompanies up 290 . Nd iced tea, this company is going to be changing their name to long blockchain, getting into the blockchain space. Haveample of the media we been seeing on all things cryptocurrency and bitcoin. , this is aockchain 69 million market cap companies. Hascro cap, somebody that a company that has six landowners in revenue and trying to get in on what something is a good thing. Others think it is a battle. It lets take a look at the threeday chart of bitcoin and the bloomberg because the volatility we have seen recently is interesting. Above 18,000 per bitcoin, nea
Christmas. You can see we are set up for a lower open generally speaking on the major averages, s p showing a little more signs of life. European markets, most have been closed for the Christmas Holiday or boxing day as well. So not much to speak of there. Lets get to our own 10year note yield though as we take a look where we stand right now. 2. 483. Crude oil, wti up a few cents and just out the latest shill erin dex shows home prices up 6. 2 in october. That of course year over year from last year lets get to our road map this morning. It does start with apple largest market cap out there, shrinking in the premarket on some reports about next years iphone sales, were going to fill you in. Will this years rally continue as we close out 2017. Finally a retail rebound, how the struggling sector is faring so far this Holiday Season as you may know not too bad. Lets start with apple shares, they are under pressure in the premarket. Reports of sales of the new iphone 10 are slowing accord