Finance: STOCKS RISE: Here’s what you need to know

Stocks finished up Thursday while bitcoin trading volumes almost caught the amount of money traded on the New York Stock Exchange in an average today.

Stocks finished in the green on Thursday as bitcoin topped $16,000 for the first time after a wild 48-hour surge that saw fortunes made and exchanges crash. Some Wall Street banks are walking away from the volatile cryptocurrency despite a new futures market set to launch this weekend.

Here’s the scoreboard:

• S&P 500: 2,637.01 ( 0.29%)
• Dow: 24,200.60 ( 0.25%)
• Nasdaq: 6,812.84 ( 0.54%)
• Oil: $56.61 ( 1.16%)
• 10-year treasury bond: 2.34% (-0.57%)

1. As the GOP tax plan heads to conference, rich homeowners in blue states could be among the biggest losers.
2. Here are the 12 companies that could pay the highest effective tax rates under the new plan.
3. Lululemon surged after beating on earnings and raising its guidance.
4. Cryptocurrency volumes went bananas today, totaling more than half of a usual trading day on the New York Stock Exchange.

In other news…

• Bank of America has come up with the 'ultimate tax reform trade' that everyone is missing
• Pretty much every major cryptocurrency that isn’t called bitcoin fell
• A new Federal Reserve nominee could be key to setting rates — but his views make him a wildcard
• The tax bill could also add billions to the bottom lines of Amazon, Facebook, and Google’s balance sheets

Stocks finished up Thursday while bitcoin trading volumes almost caught the amount of money traded on the New York Stock Exchange in an average today. Read Full Story