Here is what you need to know.
The GOP tax bill’s passage through the Senate looks like a done deal. Sens. Susan Collins of Maine and Mike Lee of Utah announced they would vote for the final GOP tax reform bill Monday, virtually guaranteeing the measure will pass the chamber.
Britain’s economic growth is set to lag behind an accelerating eurozone in 2018. High inflation and dampened business investment have slowed Britain’s economic growth since the European Union referendum, and that’s likely to keep it behind the rest of the eurozone next year, PwC says.
Instant noodle sales are falling in China. Sales of instant noodles have fallen by 8 billion packets since 2013 as on-demand food services and the rise of rural China weigh, according to the World Instant Noodles Association.
Debt issuance hits a record in 2017. Corporate debt issuance, which rose by 55%, propelled global debt issuance to a record $6.8 trillion in 2017, according to Dealogic data.
Cryptofunds will likely grow in 2018. An estimated $2 billion has been invested with specialist hedge funds focusing on cryptocurrencies in 2017, and that number “will likely be bigger” in 2018 according to estimates from Morgan Stanley.
Buffett’s Berkshire Hathaway hits $300,000 a share. Class A shares of Berkshire Hathaway hit $300,000 apiece for the first time on Monday, meaning anyone who has invested with Warren Buffett since he took over the company in 1965 has seen a return of more than 2,400,000%, Reuters says.
BMW hits its sales target for electric cars. The German luxury automaker said sales of electric-vehicles are up 60% versus a year ago and have reached the company’s sales target of 100,000 EVs, Reuters reports.
Stock markets around the world trade mixed. Hong Kong’s Hang Seng (+0.70%) led the gains in Asia and France’s CAC (-0.14%) lags in Europe. The S&P 500 is set to open higher by 0.14% near 2,694.
Earnings reports trickle out. Darden Restaurants reports ahead of the opening bell while FedEx and Micron Technology release their quarterly results after markets close.
US economic data keeps coming. Housing starts and building permits will both be released at 8:30 a.m. ET. The US 10-year yield is little changed at 2.39%.