We are starting to get bits and pieces from President Trump’s proposed tax plan, scheduled to be revealed later today.  Earlier, Treasury Secretary Steve Mnuchin, confirmed a 15% corporate tax rate. 

The major indices are trading higher and Nasdaq keep setting record high; however, the Dow transports index is lagging again today.  C.H. Robinson (CHRW) is trading lower despite of beating earnings and revenues expectation and KC Southern (KSU) is getting hit, in part of news circulating that the administration is determining whether to withdraw from NAFTA, although nothing formal has been released and there is nothing imminent.  The Mexican Peso and Canadian Loonie plunge following this news. 

After being down for six of the last seven days, WTI is trading up to $49.71 following reports from the EIA showing that the U.S. crude inventories fell by a larger than expected number of 528.7 million barrels. 

• Crude oil inventories down 3.64 million barrels versus expectation for draw down of 1.7 to 1.8 million
• Gasoline inventories had a build of 3.37 million barrels
• Distillate inventories had a build of 2.65 million barrels

Breaking news from D.C. report that the House Freedom Caucus will now support the administrations amended repeal and replace of Obamacare.