Pro Analysis

Here are the 10 most important stories for investors Wednesday morning

Senate Majority Leader Mitch McConnell, accompanied by members of the Republican Conference, speaks at a news conference about the passage of the Tax Cuts and Jobs Acts at the U.S. Capitol in Washington, U.S., December 20, 2017.
Aaron P. Bernstein | Reuters
Senate Majority Leader Mitch McConnell, accompanied by members of the Republican Conference, speaks at a news conference about the passage of the Tax Cuts and Jobs Acts at the U.S. Capitol in Washington, U.S., December 20, 2017.

A daily morning look at the financial stories you need to know to start the day.

STOCKS/ECONOMY

-Stock futures are higher in response to the Senate voting to pass the tax reform bill. We get existing home sales data this morning.

-Weekly mortgage applications sank 4.9 percent last week.

TAX REFORM

-The Senate passed the Republican tax reform bill early this morning on a 51 to 48 party line vote. The bill now goes back to the House, which will have to vote on it again because of a procedural error. President Trump is likely to sign it into law this afternoon.