At this point I think the stock market is inflated. So, people who buy into stocks at inflated values likely will be hurt when things even out in the next couple of years (if and when they do). What is the saddest thing for me is that the stock market now is built upon things harming or even killing the middle Class and poor not only of this nation but of all nations. The Tax bill harms middle class and poor people while giving Trump and his family about 1 billion dollars in tax breaks. There is something really wrong about this.
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U.S. Stocks Gain on Tax Outlook as Treasuries Drop: Markets Wrap

U.S. stocks posted record highs after John McCain backed the Senate tax bill and the biggest technology stocks rebounded from their worst selloff in more than a …

Bloomberg1d

Headline

Dow Jones Industrial Average

Dow soars past 24,000 for first time

The Dow Jones Industrial Average crossed the 24,000-point waterline on Thursday, soaring to a new record high as the GOP tax bill continued to march forward. …

U.S. Stocks Gain on Tax Outlook as Treasuries Drop: Markets Wrap

By

Brendan Walsh

November 29, 2017, 1:58 PM PST Updated on November 30, 2017, 1:02 PM PST

• The Dow Jones Industrial Average climbed past 24,000
• S&P 500 heads for longest monthly winning streak since 2007

Bloomberg Tax’s Laura Davison reports on the trigger provision in the tax bill.

U.S. stocks posted record highs after John McCain backed the Senate tax bill and the biggest technology stocks rebounded from their worst selloff in more than a year.

The Dow Jones Industrial Average climbed past 24,000 after the statement of support from the Arizona Republican as the measure headed for a marathon debate, while the S&P 500 capped its longest monthly winning streak since 2007. Treasuries extended their slide, with the 10-year yield breaking above 2.4 percent. The euro and pound strengthened as Brexit negotiators moved closer to a divorce agreement.

An up-or-down vote on the Senate’s tax bill could happen before the end of this week. While McCain’s support helped bring the measure one step closer to passing, Republican Senator Susan Collins of Maine said it “would be very difficult” for her to support the proposal in its current form. The party can only afford to lose two of its 52 members to pass the bill without Democratic support. Bob Corker of Tennessee, Jeff Flake of Arizona, James Lankford of Oklahoma and Ron Johnson of Wisconsin are all seen as potential “no” votes.
Data showed U.S. consumer spending settled back in October to a still-decent pace after the biggest increase since 2009, as a post-storm surge in auto sales cooled. Incomes remained robust and inflation showed progress toward the Federal Reserve’s goal. Treasuries sank, driving the benchmark 10-year yield to the highest in a month.
Oil posted its longest streak of monthly gains since early 2016 after an OPEC-led coalition of major crude producers followed through on a long-awaited extension of supply cuts.
Terminal subscribers can read our Markets Live blog.
Here are some key events scheduled for the remainder of this week:

• Japan’s CPI may show a sharp divergence between headline and core inflation, Bloomberg Intelligence said ahead of the releases on Friday.
• In China, the private Caixin manufacturing PMI is due on Friday.

These are the main moves in markets:

Stocks

• The S&P 500 Index rose 0.8 percent to a record at the close in New York.
• The Stoxx Europe 600 Index fell 0.3 percent.
• The U.K.’s FTSE 100 Index dropped 0.9 percent.
• Japan’s Nikkei 225 Stock Average jumped 0.6 percent to the highest in three weeks.
• The MSCI Emerging Market Index dipped 1.9 percent, the most since May.

Currencies

• The Bloomberg Dollar Spot Index was little changed.
• The euro increased 0.4 percent to $1.1898.
• The British pound rose 0.9 percent to $1.3523, the strongest in more than two months.
• The Japanese yen slipped 0.6 percent to 112.6 per dollar.

Bonds

• The yield on 10-year Treasuries rose three basis points to 2.42 percent.
• Germany’s 10-year yield dipped two basis points to 0.37 percent.
• Britain’s 10-year yield fell one basis point to 1.33 percent.

Commodities

• West Texas Intermediate was little changed at $57.31 a barrel.
• Gold declined 0.7 percent to $1,277.20 an ounce.
• Copper rose 0.1 percent to $3.0715 a pound.

— With assistance by Eric Lam, Lu Wang, Adam Haigh, Cormac Mullen, and Cecile Vannucci