Here are five things you must know for Tuesday, Dec. 19:
1. -- U.S. stock futures pointed to more records for Wall Street when markets open on Tuesday, Dec. 19, as investors rode the bull market to the end of the year ahead of an expected vote by U.S. lawmakers on Donald Trump's signature tax reform bill.
The Dow Jones Industrial Average closed Monday, Dec. 18, with its 70th record close of 2017 -- the most ever in a single year -- while the Nasdaq briefly crossed 7,000 for the first time during the session as investors looked to the passage of the tax plan by Christmas. The Nasdaq and S&P 500 closed with records highs on Monday.
The House of Representatives was scheduled to vote Tuesday on the tax bill with the Senate vote on Wednesday. Most of the benefits from the tax bill go to corporations. The Congressional Budget Office estimated the tax cuts will widen the government's budget deficit by $1.45 trillion.
European and Asian stocks traded mixed on Tuesday.
In the U.S., the economic calendar on Tuesday includes Housing Starts for November at 8:30 a.m. ET.
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5. -- Cars.com (CARS) - Get Cars.com, Inc. Report jumped 9.4% to $30.50 in premarket trading on Tuesday after it was disclosed that activist investor Starboard Value LP bought a 9.9% stake in the online auto marketplace.
2. -- Darden Restaurants Inc. (DRI) - Get Darden Restaurants, Inc. Report posted fiscal second-quarter earnings of 73 cents a share, topping Wall Street forecasts by 3 cents. The company also raised its 2018 forecast for adjusted earnings and same-store sales growth.
Reports are also expected Tuesday from Carnival Corp. (CCL) - Get Carnival Corporation Report , FactSet Research Systems Inc. (FDS) - Get FactSet Research Systems Inc. Report , FedEx Corp. (FDX) - Get FedEx Corporation Report , Micron Technology Inc. (MU) - Get Micron Technology, Inc. (MU) Report and Red Hat Inc. (RHT) - Get Red Hat, Inc. Report .
3. -- The U.S. Department of Commerce could rule soon on duties that could be placed on Bombardier Inc.'s C-series passenger jet after Boeing Co. (BA) - Get Boeing Company Report claimed that its Canadian rival benefited from billions of dollars in illegal government subsidies and dumped its newest jetliner in the U.S. at below cost.
Boeing accused Bombardier on Monday at a hearing before the U.S. International Trade Commission of harming its ability to sell 737s in the U.S. market, in one of the final stages of a trade dispute that is due to conclude in February, Reuters reported.
Bombardier argued Boeing's large 737 order book shows there has been no adverse impact from its C-Series jet and that Boeing doesn't manufacture a jet that competes with the new model, the report said.
Boeing launched a trade complaint against Bombardier earlier this year.
Boeing shares were up 0.8% in premarket trading on Tuesday. The stock has gained 90% so far this year.
4. -- Shares of LongFin Corp. (LFIN) fell 22% in premarket trading on Tuesday after jumping almost 229% on Monday following news last week that it was buying blockchain company Ziddu.com.
The stock closed with a gain of 230% on Friday, Dec. 15, and was up more than fivefold at one point Monday, CNBC noted, bringing its two-day surge to more than 2,000%.
The company, which describes itself as a technology company that uses artificial intelligence to deliver financial services for small companies, had its initial public offering on the Nasdaq on Dec. 13.
Starboard believes the company is undervalued by a market that is betting heavily against it and ignoring the potential for a sale, The Wall Street Journal reported.
This story has been updated to include earnings from Darden Restaurants.
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