Most European indices were in the red, but not by much
The week kicks off in the doldrums. European and Asian indices were falling by ‘tween 1 and 3 tenths of a percent in early trading. The euro dropped 0.3%, the pound slightly by 0.1%. Only the yen strengthened quite by 0.4%.
It’s all about the US tax code this week. There’s some gloom in the markets that will dissipate if the Senate manages to ratify the rules.
Hopes are the tax plan will lead to greater economic growth. This will especially be possible considering all the deregulation Trump’s been pushing through since he stepped in office.
This week’s got some major events coming that ya need to watch for. Most important – US Senate could meet as soon as this week and vote for Trump’s tax cut legislation.
OPEC meets in Vienna on Thursday, Trump gets together with Democratic and Republican congressional leaders to discuss a federal spending plan to stop the government from shutting down. It’s current debt ceiling expires Dec 8.