4315 outlook

December 1, 2017 Economic Outlook

Dec 1, 2017  | Ep4315

All President Trump wants for Christmas is to sign a Tax Bill, but heading into the weekend, budget hawks and an announcement from his former National Security advisor could dash those hopes. ---

The Dow Jones Industrial Average ventured past 24,000 Thursday, before a major sell-off Friday morning after Michael Flynn pled guilty of lying to the FBI amidst the ongoing Russia investigation.  But the market rebounded on word that Senate Majority Leader Mitch McConnell had the necessary votes to pass the GOP’s tax bill.

New home sales echoed Washington’s frenetic pace as transactions jumped 6.2 percent in October.

Despite two devastating hurricanes, business investment drove the U.S. economy to compile the first back-to-back quarters of 3 percent GDP growth since 2014.

And crude oil rallied on news of the OPEC cartel and a group of allied oil-producing nations agreed to extend output cuts through 2018. Similar policy has given fuel to a bull run in the market.

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