Here are five things you must know for Wednesday, Dec. 13:
The victory for Jones, a 63-year old lawyer who served as state attorney general under former President Bill Clinton, could not only change the face of the Senate but also disrupt the broader agenda of Donald Trump as he struggles to deliver his first major win legislative before the end of the year.
The U.S. dollar index, which benchmarks the greenback against a basket of six global currencies, traded modestly lower at 94.02 early Wednesday, and stock futures pointed to a flat to higher start for Wall Street on Wednesday, Dec. 13, as investors reset expectations for the Senate's composition and, possibly, the fate of the president's tax cuts.
With at least two weeks for Alabama's Republican Gov. Kay Ivey to certify the election win -- and perhaps longer if losing candidate Roy Moore challenges Jones' narrow victory -- GOP senators will hold on to their 52-48 majority until at least Christmas, providing a narrow window within which they can finalize, pass and deliver a tax bill to the president's desk for a final signature.
Disney took the inside lane for the Fox assets, which include Fox's U.S. cable operations and its European pay-TV company Sky PLC (SKYAY) , after rival Comcast Corp. (CMCSA) dropped out of the bidding earlier this week. Multiple media outlets were reporting that Disney and Fox will announce specifics of the deal on Thursday, Dec. 14.
The agreement allows Western Digital to participate in future investments in their joint venture, clearing the way for a consortium led by Bain Capital to buy Toshiba Memory Corp., the companies said Wednesday.
5. -- Alphabet Inc.'s (GOOGL) Google plans to open an artificial intelligence research center in China to target the country's local talent, even as the U.S. search giant's products remain blocked in the country, Reuters reported.
Google said in a statement the research center is the first of its kind in Asia and will be made up of a small team operating out of its existing office in Beijing.
Shares of Alphabet were up slightly in premarket trading.
This story has been updated from 6:07 a.m. ET.
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