Final GOP Deal Sets 21% Corporate Tax, Cuts for Top Earners
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House and Senate Republicans on Wednesday reached an agreement on the final version of a tax bill that would lower the top individual rate to 37% and set a corporate rate of 21%, while eliminating the corporate alternative minimum tax.
U.S. Stocks Rise Ahead of Fed's Decision
Widespread gains across sectors boosted major U.S. stock indexes ahead of a key update from the Federal Reserve on its economic and interest-rate projections.
Federal Reserve Expected to Raise Rates
The Federal Reserve is likely to raise short-term interest rates after its policy meeting concludes Wednesday, the fifth such increase since the Fed began raising rates from near zero two years ago.
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U.S. Economic Expansion Could Become Longest on Record
Forecasters are increasingly optimistic the U.S. economic expansion could continue beyond the 2020 presidential election, aided by Republican tax legislation that is expected to lift growth.
OPEC Oil Output Falls to Six-Month Low but U.S. Fills Gap
OPEC production fell to its lowest in six months but rival U.S. production was surging faster than expected, meaning oil markets may not rebalance before the end of 2018, the oil cartel said in its closely watched monthly oil report.
U.S. Consumer Prices Rose 0.4% in November
A bump in energy prices boosted U.S. consumer prices in November, but that masked a softening in underlying inflation trends.
U.S. Oil Inventories Decline Sharply
Crude-oil stockpiles fell by 5.1 million barrels to 443 million barrels, for the week ended Dec. 8, and are now in the middle of the average range for this time of year, the EIA said. Analysts surveyed had predicted crude supplies would fall by 2.9 million barrels on the week.
Bitcoin: Electrifying Investment, Lousy Currency
It's too soon to know whether bitcoin is a bubble ready to burst, but not too soon to conclude that it has failed in its mission to be a viable alternative to sovereign currencies like the dollar, Greg Ip writes.
In Tax Plan's Fine Print, Banks Find a Problem
As the U.S. Congress attempts to hammer out a final tax plan, Wall Street is fighting to limit the scope of a provision meant to discourage companies from sending money overseas to avoid taxes.
Oil Falls as U.S. Production Rises
Oil prices flipped from gains to losses, with the U.S. benchmark trading lower after data showed that fuel inventories rose and U.S. production increased.
(END) Dow Jones Newswires
December 13, 2017 13:15 ET (18:15 GMT)