It's been a day dominated by politics.

This is how the S&P 500 moved during the day.

Right in on leaks there's going to be a big tax cuts,

then falling after the tax cuts was actually annouced.

And we discovered that there were no countervailing spending cuts to fund the tax cuts.

Many in the market think I think accurately, the bet has no chance to fly in congress.

You saw the same trends in the bond market and, as you can see,

in the dollar, gains followed by shock blow once we heard the news.

If you'd look at how the highest-tax companies, which stands at its benefits most from the tax cuts,

have fair compared to the lowest-tax, this is according to Goldman's Sachs,

you can see, that confidence in the tax cuts, it'd apt away quite awhile ago and it hasn't recovered.

Two other big items of news, as you can see telecom services companies did very well today,

that was because of the FCC chairmen have wanted to do away with net neutrality.

Meanwhile, the Canadian dollar and particularly the Mexican Peso did very badly,

that's because there's a leak that the Trump administration wants to leave NAFTA all together.

That's the New York Minute.