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DAILY MARKET OVERVIEW
Today's Top Market Headlines – Dec 1, 2017
Shoot! Senate moves voting on tax bill to Friday, shares slump

There appears to be some cracks in it

 

A muddy start to the last month of 2017 – European shares open on the red and so did Asia’s. The dollar retreated as well in the light of the recent stumbling of the US tax reform.

Senate suspended voting for Friday when it became evident that a key compromise to win a majority had collapsed. That left Republicans scrambling to salvage the law.

Markets have become sensitive to any news from this bill’s passing. They hope it can give impetus to the markets for the rest of the year.

Back in Europe, Stoxx 600 fell to a 2-week low. Car manufacturers led those declines. Sadly, all 19 sectors were on the red, with only one exception.

In Asia it was bad, all safe for Japan where the Nikkei succeeded to reclaim a 25-year peak it reached in November. Shares rose in Australia and retreated in Hong Kong.