What you need to know on Wall Street today
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The GOP tax bill is nearing the finish line in the Senate - thanks in part to Sen. John McCain, who gave the legislation an enormous boost Thursday after announcing his support. The bill is now hurtling toward a floor vote, and it's been driving the stock market crazy on its way.
Here's everything else you need to know about the tax push:
- Here's who would be the winners and losers under the latest Senate Republican tax bill.
- Here are all the ways the GOP tax plan kicks millennials in the teeth.
- Bank stocks are getting a boost as the Senate nears vote on tax reform.
- Trump says the GOP tax bill would "cost me a fortune." (Narrator: It wouldn't.)
- Republicans are talking about adding a "trigger" to the tax bill - and it could end up being a disaster for the economy.
- Marco Rubio wants to make a huge change to the GOP tax bill - and Trump won't like it.
A federal judge gave Trump a huge victory in the battle over the interim leader of the Consumer Financial Protection Bureau - but the permanent boss of the top consumer watchdog could be even more anti-consumer than acting-director Mick Mulvaney, according to Business Insider's Pedro da Costa.
Employees at the CFPB talked to Business Insider about the dramatic showdown with Trump, with some saying outgoing director Richard Cordray had the authority to name his successor, and others saying he knew the plan would fail all along and calling it a "political stunt."
CVS and Aetna are reportedly nearing a $66 billion deal - the latest in a string of megadeals. The investment banking team at Baird says the trillion-dollar M&A market will keep exploding in 2018 for three key reasons.
In other news:
- Dow tops 24,000 for the first time
- Chipotle quietly changed the recipe of its most-hated menu item
- The bitcoin exchange Coinbase has been ordered to hand the IRS info on 14,355 of its highest-rolling customers
- The Fed has no plans for its own cryptocurrency - at least for now
Lastly, here's how much it costs to get a haircut in cities around the world, in two charts.