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Dow eyes 25,000; Bitcoin futures; Brexit decisions

1. Dow 25,000 watch: The Dow Jones industrial avera...

Posted: Dec 18, 2017 9:59 AM
Updated: Dec 18, 2017 9:59 AM

1. Dow 25,000 watch: The Dow Jones industrial average might hit yet another milestone this week, especially if Congress passes the package of tax cuts that has seriously fired up Wall Street.

The Dow has hit plenty of records since President Trump took office, passing 24,000 just three weeks ago.

The index has nearly quadrupled since the financial crisis low, with most of the gains occurring prior to Trump's election.

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

2. Bitcoin futures: CME, the derivatives marketplace, kicked off electronic bitcoin futures trading on Sunday, a week after futures trading began on the Chicago Board Options Exchange.

Investors see the involvement of top financial institutions as a sign of growing mainstream acceptance -- even as government officials, business leaders and economists continue to warn against investing in it.

The digital currency is still extremely volatile. It jumped to within a few hundred dollars of the $20,000 mark on Sunday before slipping back sharply. By early Monday, it was trading well below $19,000.

3. Brexit decisions: What kind of relationship does Britain want with the EU, its biggest export market?

Prime Minister Theresa May will discuss the vital question with cabinet members on Monday. There are two camps: Those who want to negotiate continued easy access to EU markets, and those who want to break free from EU regulation even if it means accepting new barriers to trade.

Both scenarios come with risks and consequences that are likely to upset factions within May's Conservative party.

The pound edged up to trade above $1.33.

4. Global market overview: European markets were in positive territory. Asian markets ended mixed.

U.S. crude futures gained 0.5% to trade at $57.50 per barrel.

The Dow Jones industrial average added 0.6% on Friday. The S&P 500 gained 0.9% and the Nasdaq jumped 1.2%.

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5. Companies and economics: The European Commission is set to launch a formal probe into Ikea's tax affairs, according to reports in the Financial Times and Politico.

Eurozone inflation data is expected at 5:00 a.m. ET

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

6. Coming this week:
Monday -- Official trade date for Bitcoin futures on CME
Tuesday --
Fedex, Darden and Carnival earnings
Wednesday -- General Mills earnings
Thursday -- Nike earnings; Final estimate on 3Q U.S. GDP
Friday --
El Gordo lottery in Spain

California Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 886939

Reported Deaths: 17167
CountyConfirmedDeaths
Los Angeles2904866944
Riverside650561275
San Bernardino609451065
Orange576351423
San Diego53263863
Kern33551413
Fresno30220430
Sacramento24811474
Santa Clara23591382
Alameda22932435
San Joaquin21436484
Contra Costa18273238
Stanislaus17403394
Tulare17317279
Ventura13930160
Imperial12610336
San Francisco11969137
Monterey1115884
San Mateo10918157
Santa Barbara9671119
Merced9386153
Sonoma9016134
Kings817383
Solano720574
Marin7036127
Madera492873
San Luis Obispo408032
Placer402355
Yolo309958
Butte302651
Santa Cruz272524
Napa190814
Sutter182112
Shasta178629
San Benito141114
El Dorado13024
Yuba128010
Mendocino111121
Tehama7938
Lassen7611
Lake67815
Glenn6473
Nevada5988
Humboldt5609
Colusa5486
Calaveras33917
Amador31316
Tuolumne2574
Inyo21815
Siskiyou1860
Del Norte1751
Mono1752
Mariposa782
Plumas610
Modoc270
Trinity250
Sierra60
Alpine30
Unassigned00
Chico
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Oroville
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Paradise
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Chester
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Willows
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Very strong winds and dry conditions are driving critical fire danger today. A Red Flag Warning for high fire danger, a Wind Advisory, and a Freeze Warning are all in effect for the start of your Thursday.
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