Tax Legislation: Senate Votes on Wednesday

The Senate will "convene and resume consideration" of the tax legislation tomorrow at 10 AM ET. There will be some posturing debate, followed by the vote. The bill is expected to pass the House within a few days.

Earlier today:
• NFIB Small Business Optimism Index Rises. NFIB graphs here.
• Retail Sales increased 0.8% in November
• FOMC Statement: No Change
• Lawler: Early Read on November Existing Home Sales: 4.57 million SAAR

Wednesday:
• 7:00 AM: The Mortgage Bankers Association (MBA) will release the mortgage purchase applications index.
• 8:30 AM: Consumer Price Index for November.
• 8:30 AM: NY Fed Empire Manufacturing Survey for December.
• 9:15 AM ET: The Fed will release Industrial Production and Capacity Utilization for November.
• 10 AM: The December NAHB homebuilder survey.

Best to all
posturing