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Senate Tax Bill Hits Obstacle Over Deficit Concern

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Senate Republicans hit a significant stumbling block late Thursday in their efforts to overhaul the tax code, forcing them to contemplate rewriting key parts of their $1.4 trillion tax-cut plan.

Senate Tax Plan Won't Pay for Itself, Analysis Says

Senate Republicans' tax plan would modestly expand the economy but cover less than a third of its cost, failing to meet the party's promise that it will pay for itself through faster growth, according to an official congressional analysis.

Dow Industrials Climb 332 Points to Finish Above 24000

The Dow Jones Industrial Average surged 332 points Thursday, its biggest point gain in a year, to close above 24000 for the first time.

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OPEC Agrees to Limit Oil Output Through 2018

OPEC and a Russia-led group of big-oil producers agreed to keep limiting their output through the end of 2018, as they seek to provide assurance for an oil industry still working through a fragile recovery.

Americans' Spending, Incomes Rose Briskly in October

Americans spent steadily in October while their incomes grew healthily, suggesting the economy is posting another quarter of strong growth.

Senate Banking Committee to Vote on Powell Nomination Tuesday

The Senate Banking Committee is scheduled to vote Tuesday on the nomination of Jerome Powell to be the next Federal Reserve chairman.

CBO Report Warns About Debt Ceiling

The government could run out of room to pay its bills by late March or early April unless Congress raises the federal borrowing limit, the Congressional Budget Office said in a new report.

Fed Official Steps Up Concern Over Bitcoin

Digital currencies such as bitcoin may not be secure enough for widespread public use, Federal Reserve official Randal Quarles said, stepping up the agency's concern over the highflying virtual currency.

Fed's Kaplan Supports Rate Increase in 'Near Future'

Federal Reserve Bank of Dallas President Robert Kaplan said Thursday he thinks a rate increase in the "near future" would be wise, citing a low U.S. jobless rate and the likelihood of further labor-market tightening next year.

The Return of the Repo: A Market's Postcrisis Comeback

An obscure but vital corner of financial markets-repurchase agreements-is making a comeback after the financial crisis as banks begin to rejoin the increasingly buoyant market.

(END) Dow Jones Newswires

November 30, 2017 19:15 ET (00:15 GMT)