As expected, congress passed their funding bill today which avoids a Government shutdown for now. President Trump also officially signed into law the new tax bill with surprisingly little pomp and circumstance. All of the major indices traded with extremely low volume which is to be expected going into the three day, holiday weekend.
The Dow 30 was lower by 26, but still just off highs. The S&P 500 lost 1, and the Nasdaq 100 was lower by 5 as well. The markets are closed on Monday for Christmas, but will reopen as normal on Tuesday. Fun fact, history suggests that the first trading day after the Christmas holiday is positive 71% of the time.
Bitcoin and Bitcoin Futures (/BTC) were a big focus today as the price of the popular crypto-currency fell below 12,000. Futures fell over 7% on the day and are now lower by 35% since opening this past Sunday at 20,650. Popular bitcoin marketplace, coinbase announced that buying and selling were temporarily disabled due to volume. Competition, and system stability continue to be a major deterrent from educated investors participating.
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