Dow at 24,000; Tax bill snag; OPEC deal

1. Dow hits 24,000: The Dow Jones industrial average closed above 24,000 on Thursday, smashing yet another milestone. Reminder: The index first hit 23,000 barely a month ago.

Where U.S. stocks are heading Dow Futures   Nasdaq Futures   S&P Futures -78.00   -48.25   -13.00 -0.32%   -0.76%   -0.49%

World Markets Japan   China   U.K. Nikkei 225   Shanghai Composite   FTSE 100 +94.07   +0.43   -34.67 22,819.03   3,317.62   7,292.00 +0.41%   +0.01%   -0.47%

Biggest Winners Monsanto Co +0.98%   Newmont Mining Corp +0.84%   Wynn Resorts Ltd +0.27%   Kroger Co +0.08% Biggest Losers HanesBrands Inc -6.65%   Qualcomm Inc -3.24%   Micron Technology Inc -2.67%   Visa Inc -2.00%

News: What you need to know about the markets     Dow at 24,000; Tax bill snag; OPEC deal By Ivana Kottasová Friday, December 1st, 4:50am   1. Dow hits 24,000: The Dow Jones industrial average closed above 24,000 on Thursday, smashing yet another milestone.   Reminder: The index first hit 23,000 barely a month ago.   The Dow has spiked nearly 6,000 points since President Trump was elected. It has notched 80 daily records over the period.   The S&P 500 added 0.8% and the Nasdaq gained 0.7% on Thursday. Both are near record highs.   Friday could be more restrained: U.S. stock futures were pointing lower.   2. Tax bill hurdle: The dollar is under pressure after U.S. tax reform hit a snag in the Senate.   Senate Republicans had hoped their tax bill would easily win approval this week, but there are now concerns over its cost.   Sen. Bob Corker, a Republican from Tennessee, has made clear that he will not vote for a tax bill that increases the deficit.   The problem: A new analysis shows the bill would add more than $1 trillion to the federal budget deficit over the next decade.   Republicans, who had been on track to pass the bill along party lines, are now considering whether to include future tax increases.   3. Oil up: U.S. crude futures were trading 0.5% higher at $57.70 per barrel.   The gain comes after OPEC and other major oil producers including Russia agreed to extend their production cuts until the end of 2018.   OPEC and its allies first agreed to slash output in late 2016, a response to oversupply and an oil price crash.   There are signs that the global oil glut is now shrinking.   Before the Bell newsletter: Key market news. In your inbox. Subscribe now!   4. Global market overview: European markets opened lower, while Asian markets ended the session mixed.   Bitcoin continued its wild ride, swinging as high as $10,050 and as low as $9,400.   Gold reversed some of its weekly losses, edging 0.2% higher.   5. Earnings and economics: Big Lots will release earnings before the U.S. open.   The Institute for Supply Management will publish its November index at 10:00 a.m. ET.   Canada will release third quarter GDP and November unemployment data at 8:30 a.m.   Download CNN MoneyStream for up-to-the-minute market data and news

Coming this week:     Friday -- Institute for Supply Management index; Auto sales data; Canada GDP and unemployment data

Key Market Stats Latest Today's Change Oil $57.73 +0.33 / +0.57% Gold $1,279.90 +3.20 / +0.25% 10-yr 2.42% +0.04 / +1.73% Euro $1.19 +0.00 / +0.02%

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Trillion-dollar trouble for tax plan

Tax overhaul ... Kate Steinle verdict ... White House ... slavery in Libya ... Japan

view in browser Friday 12.1.17 It's not too early to freak out over Christmas shopping. Here are 10 tech gadgets the people in your life will love. And here's what else you need to know to Get Up to Speed and Out the Door. By Doug Criss Tax overhaul   The GOP effort to remake the nation's tax code was rolling along nicely in the Senate. A final vote was set for last night, and even maverick Sen. John McCain said he was on board. Then, the whole thing hit a trillion dollar-sized pothole. A nonpartisan analysis of the Senate tax bill said yes, it would generate some economic growth, but the massive tax cuts in it would still add $1 trillion to the deficit over 10 years. That flies in the face of White House claims that the tax cuts would pay for themselves. So, deficit hawks like Bob Corker -- Tennessee senator and Donald Trump nemesis -- demanded some changes. The big vote was delayed until later today, and the tax writers went back to work. Corker wants to find ways to raise more revenue if the tax package indeed doesn't create enough economic growth. So, the GOP is looking at things like gradually raising the corporate rate after the initial tax cut or not completely repealing the alternative minimum tax. Kate Steinle verdict The debate over immigration policy reignited after a San Francisco jury acquitted an undocumented immigrant in a woman's shooting death. Jose Ines Garcia Zarate was found not guilty of murder and involuntary manslaughter in the killing of Kate Steinle. Garcia Zarate had been deported five times and was in the country illegally when he shot and killed Steinle in 2015. The case became a flashpoint in the debate over immigration because prior to the shooting, San Francisco, under a sanctuary city law, had released Garcia Zarate instead of turning him over to ICE. President Trump, who used the shooting on the campaign trail to make the case for his border wall proposal, called the verdict "disgraceful." Garcia Zarate is set to be deported again. White House   Reports popped up that the White House was prepping a replacement for Secretary of State Rex Tillerson -- possibly CIA Director Mike Pompeo. Now, we've learned that this public shaming of Tillerson was President Trump's way of expressing displeasure with him, similar to the way he went after Attorney General Jeff Sessions. Some officials expect Tillerson to be gone by the end of the year. So, it seems like a big ole plate of awkward will be on the menu when Trump, Tillerson and Defense Secretary James Mattis have lunch together today at the White House. Slavery in Libya   The UN urged Libya to "take urgent action" to end the slave trade there, a practice exposed by CNN, which shined a light on human slave auctions in the country. Many of those being sold are African migrants trying to make their way to Europe. Undercover CNN reporters witnessed a dozen men being sold at auction outside Libya's capital of Tripoli. The report let to protests outside Libya's embassy in Paris and widespread calls for an investigation. Japan   Japanese Emperor Akihito will step down in 2019, becoming the first Japanese monarch to abdicate in 200 years. In a speech last year, Akihito, who is 83, hinted that he wanted to move on, saying his advanced age and his fitness level was making it difficult to carry out his duties. His son, Crown Prince Naruhito, would be the new Emperor. 10 The number of years a Texas murder suspect -- featured on HLN's "The Hunt with John Walsh" -- was on the run before being captured this week We love you, and we miss you, and we need to know that you're safe. Please call us."    The mother of Caitlyn Frisina, the missing Florida teen who police think is with a 27-year-old soccer coach People are talking about these. Read up. Join in. Goodbye, Gomer Jim Nabors will always be our Gomer Pyle, though the talented actor had quite the singing career, too, releasing 28 albums. Nabors died at age 87. Roaring back Tiger Woods looked something like the Tiger of old when he played in the Hero World Challenge, his first bit of competitive golf since his back surgery. Super Sunday There's only going to be one supermoon this year, and it happens on Sunday. But if you miss it, don't worry. There are two more coming up in January. Meet Mulan The world has a new Mulan. She's Chinese actress Liu Yifei, and she'll be starring in Disney's live-action remake of the animated classic. It's got the look Prince's iconic "Love Symbol" guitar is going up for auction, and it may go for way more than the estimated $100,000 bidding price. Draw it up Forgive the soccer fans in your life if they're a little distracted today. The World Cup 2018 draw is today, and they'll be hoping and praying that their team doesn't end up in the "Group of Death." Let it snow Truffle the Cocker Spaniel is loving his first experience with snow. (Click to view.) Share Tweet ALL CNN NEWSLETTERS CNN Five Things shows up in your inbox every weekday at 6 a.m. ET. Like what you see? Don't like what you see? Let us know. We're all about self improvement. Did a friend forward you this newsletter? Sign yourself up!   Copyright © 2017 Cable News Network, LP, LLLP. A Time Warner Company. All Rights Reserved., All rights reserved. You are receiving this email because you subscribed to CNN newsletters. update preferences or unsubscribe