Here are five things you must know for Friday, Dec. 15:
1. -- U.S. stocks were indicated to open higher on Friday, Dec. 15, rebounding from losses in the previous session that were brought on by doubts expressed by some GOP lawmakers over the tax bill in Congress.
Stocks fell on Thursday, Dec. 14, after Florida Sen. Marco Rubio said he wouldn't vote for the combined tax reform bill that was negotiated by the House and Senate. Rubio, a Republican, told Senate leaders he plans to vote against the $1.5 trillion tax plan unless a larger expansion of a child tax credit was included. GOP Sen. Mike Lee of Utah also is undecided on the bill - he too wants the credit expanded. A few other Republican senators have said they have reservations about the tax plan.
Losing the support of three Republicans would doom the bill. A final vote on the legislation is planned for next week.
Vice President Mike Pence has delayed a planned trip to the Middle East as the vote looms because he represents the tie-breaking vote in the Senate.
European markets traded mostly lower on Friday, while Asian shares finished the session in the red.
The economic calendar in the U.S. on Friday includes the Empire State Manufacturing Survey for December at 8:30 a.m. ET, and Industrial Production for November at 9:15 a.m.
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2. -- State attorneys general, including New York's Eric Schneiderman have threatened lawsuits against the federal government's repeal of "net neutrality" rules.
New York's attorney general said he'll lead a multi-state lawsuit to stop the Federal Communications Commission's rollback of rules that guaranteed equal access to the internet. Schneiderman has been investigating fake public comments submitted to the FCC during the net neutrality comment process.
Schneiderman said his analysis shows 2 million comments stole the identities of real Americans, including dead people and children, the Associated Press noted.
TheStreet's Eric Jhonsa pointed out that while some of the doomsday predictions surrounding the FCC's decision to end net neutrality are pretty unlikely to pan out, there is some risk over the long run that there could be meaningful changes in how broadband services are priced and consumed in the U.S.
3. -- Oracle Corp. (ORCL) - Get Report shares tumbled more than 6% in premarket trading on Friday after the enterprise software company issued guidance about its cloud-computing business that disappointed inventors.
Oracle said total could revenue in the second quarter rose 44% to $1.52 billion, missing estimates, and forecast that its total cloud app and service revenue in the third quarter would only rise 21% to 25%, well below a consensus for cloud revenue to rise 42% to $1.69 billion.
4. -- Shares of Walt Disney Co. (DIS) - Get Report jumped 2.8% on Thursday after the entertainment giant reached a deal to buy most of Twenty-First Century Fox Inc. (FOXA) - Get Report , and the shares could get an even bigger boost with the release this weekend of the newest "Star Wars" film.
Can "Star Wars: The Last Jedi" top gross sales of more than $2 billion for the "The Force Awakens," which was released two years ago? Of course, that's anybody's guess. What stocks might benefit from the release of the latest "Star Wars' installment? That too is a good question.
But Tim Collins of Real Money suggested these shares as possible winners: Hasbro Inc. (HAS) - Get Report , Mattel Inc. (MAT) - Get Report , Time Warner Inc. (TWX) and Cinemark Holdings Inc. (CNK) - Get Report .
5. -- Costco Wholesale Corp. (COST) - Get Report rose 2.4% in premarket trading on Friday after the company posted fiscal first-quarter earnings that beat Wall Street expectations, same-store sales in the period jumped 7.9%, and its digital platform grew by more than 41% from a year earlier.
This story has been updated from 6:08 a.m. ET.
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