5 things to start your day

[Bloomberg Markets]( [FOLLOW US [Facebook Share]]([Twitter Share]( [SUBSCRIBE [Subscribe]](  Forward Guidance  Republicans seek agreement with Republicans on tax overhaul, May faces a deadline, and world leaders warn on Trump's Jerusalem move. Compromising House and Senate Republicans continue their work on a compromise [tax-overhaul plan]( which they aim to have on President Donald Trump’s desk by the end of the year. Senate Finance Chairman Orrin Hatch said “there is a drive” to fix the corporate tax rate at [22 percent](, rather than 20 percent, even though his personal preference is for the lower rate. Hatch is one of the eight senators on the conference committee. Also in Washington, efforts to [avoid a shutdown]( continue, with Trump due to meet leaders from both sides of the aisle later today in an effort to negotiate a long-term budget deal. Deadline Time is running out for British Prime Minister Theresa May to achieve a compromise with the European Union that she can sell to her own party and Northern Ireland’s Democratic Unionist Party. One EU official said the [cutoff is Dec. 11 at the latest]( for progress that would take divorce talks to the second round before March of next year. With her own cabinet unable to agree on [what they want](, and Brexit Secretary David Davis yesterday admitting that his department hasn’t done a [sector-by-sector analysis]( of the effects of leaving the EU, the prime minister is in a very difficult position. Elsewhere in Europe, Germany’s Social Democrats are holding a party convention today to test support for [entering a new coalition]( with Chancellor Angela Merkel, with many rank-and-file members of the party remaining unconvinced of the merits of the idea. Warning World leaders warned that Trump’s decision to recognize Jerusalem as Israel’s capital and relocate the U.S. embassy there risks [igniting new violence]( and could [bury any hopes]( for resolving the long-running Israeli-Palestinian conflict. This morning the leader of Hamas called for a [third uprising against Israel]( saying “Jerusalem is being kidnapped and ripped from us.” The recognition of Jerusalem is a [major shift]( in a long-held U.S. policy on the city, with enduring consequences for regional politics likely. Markets recover Overnight, the MSCI Asia Pacific Index added 0.4 percent, while Japan’s Topix index closed 1.2 percent higher as stocks in the region recovered from the recent selloff. In Europe, the Stoxx 600 Index was 0.3 percent higher at 5:50 a.m. Eastern Time with material and energy shares the laggards in the region. S&P 500 futures [rose 0.2 percent](, the 10-year Treasury yield was at 2.346 percent and gold slipped. Economic data The final reading of third-quarter GDP for the euro area showed an [unrevised 0.6 percent]( expansion in the period, with consumption and investment the main growth drivers. At 8:30 a.m. weekly jobless claims data is published, giving a last look at the health of U.S. employment ahead of tomorrow’s payrolls numbers. At 3:00 p.m. consumer credit growth for October is released. Here's what you should read today - The great credit party is [almost over](, Societe Generale says. - [The pound]( is one of 2018’s hottest picks. - Goldman says shares can [keep rising](. - Investors down in December are still [up big for the year](. - Retail investors just made a [historic move]( into U.S. stocks. - Bitcoin adds to [recent gains](. - Millions are hounded for debt they don’t owe. One victim fought back, [with a vengeance](.  And finally, here’s what Tracy’s interested in this morning Would you like to see a crypto-related asset that has not soared? They're in short-supply on a day when bitcoin has hit $15,000 -- its sixth round-number milestone in a little over a week -- while the total market value of virtual currencies has soared past the $400 billion mark. Yet, somehow I've managed to dig one up. Take a look at shares of Digital Power, a California-based company that says it's launching power systems for the energy-hungry activity of digital mining. It's one of a number of firms that has enjoyed significant share price pops lately after going into the crypto-business, with its stock up a stunning 490 percent since early November -- until yesterday. What happened? Digital Power shares plunged in Wednesday trading, getting halted by circuit breakers, until the company eventually published a statement denying rumors that it had received a huge order from Amazon for $450 million worth of digital-mining hardware. In the meantime, investors have gone on a roller-coaster ride that actually rivals bitcoin's.   Before it's here, it's on the Bloomberg Terminal Find out more about how the Terminal delivers information and analysis that financial professionals can't find anywhere else. [Learn more.](   You received this message because you are subscribed to the Bloomberg Markets newsletter.   [Unsubscribe]( | [Bloomberg.com]( | [Contact Us]( Bloomberg L.P. 731 Lexington, New York, NY, 10022