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Stocks rally as oil rebounds higher

Back to back up days on Wall Street and and a boost in oil have traders feeling merry. Is the Santa Clause Rally on? We saw oil rebound a bit, plus a decent GDP revision for the 3rd quarter, which gave investors some optimism heading into the holidays.

Trump tax plan

Donald Trump's tax plan was just scored by the Tax Policy Center, they found that tax revenues would be down by 22%, cutting $9.5 trillion in revenue over a decade.

Winners & losers

Stocks in the red today include Steelcase, Chipotle, and NetApp - the data-storage company is buying startup SolidFire for $870 million, boosting its flash-based storage products. NetApp shares are sliding though, as traders believe this means NetApp is a less attractive takeover candidate.

Stocks pushing higher today include Spirit Airlines, Marriott, and Ford - Ford revving higher after Yahoo Autos first reported that Google and Ford will create a joint venture to build self-driving cars - the tie up is expected to be announced at the Consumer Electronics Show in January.  

Future of cash

While online shopping and mobile payments are on the rise, cash is still the preferred method for holiday shopping, according to a survey by Bank-rate. Earlier Yahoo Finance's Jen Rogers spoke with Andy Mattes, CEO of Diebold, the ATM technology provider. She asked why cash is such a commonly used form of payment.

Looking ahead:

  • We'll get another read on the economy with with Durable goods orders for November. Economists are actually expecting a dip of 1.1% for last month.
  • Earnings season is winding down with egg producer Cal Maine Foods set to announce quarterly results after the market close.
  • And we'll get a big look at the housing and home construction outlook here in the U.S. with New home sales data.