What you need to know on Wall Street today
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The Republican tax bill will not be released on Wednesday, as had been expected, and may now be rolled out on Thursday, or possibly later still. Here's the latest:
- Trump is pushing an incredibly aggressive timeline for his massive tax plan
- Trump says Congress should include a repeal of Obamacare's "very unfair and unpopular" mandate in the tax bill
- Traders don't want to get burned again by Trump's tax reform promises
- JOSH BARRO: On taxes, Republicans are repeating all their healthcare mistakes
In finance news, Al Gore and David Blood told us how it's possible to save the world while still making a lot of money.
Some of the biggest trading firms in the world are getting in on the bitcoin business. But bitcoin futures remind at least one expert of the risky products that caused the financial crisis.
Barclays' security chief Troels Oerting took a leave of absence from the bank on Tuesday, according to two people familiar with the situation. Oerting was involved in an internal investigation over efforts to identify an anonymous Barclays whistleblower.
Bill Ackman has ended his disastrous short bet against Herbalife. Two of Wall Street's biggest activist hedge funds are getting slaughtered by a stock you've never heard of. And Robinhood, a stock trading app built for millennials, is growing up.
In markets news, something odd is happening to one of the most attractive trades of 2017. And traders have made almost $1 billion betting against Under Armour this year.
In company news:
- The world's largest diabetes drugmaker is warning investors that drug pricing laws could hurt its business
- Healthcare companies are taking Amazon very seriously
- MORGAN STANLEY: Disney's new streaming service could be worth $25 billion
- Ford just put Wall Street on notice
- Walmart just unveiled its multipronged plan to win the holiday season