Markets soared to record highs this week as Trump’s post-election market surge continues into the final month of 2017. The Dow (DJI) hit a record milestone of 24,000 during Thursday’s action by gaining nearly 300 points in the morning alone. The Dow has now skyrocketed nearly 6,000 points since Trump’s election, rising from 18,250 to the current 24,000 milestone. The Nasdaq and S&P 500 have also increased more than 30% and 20% respectively since election day.

 

But all of that could be erased with the news of Michael Flynn.

 

Former national security advisor, Michael Flynn, has pleaded guilty to lying to the FBI about his meeting with Russian ambassador, Sergei Kislyak.  Flynn is now the highest ranking member of the Trump administration to be indicted as part of Special Counsel Robert Mueller’s investigation into Russian meddling in the 2016 US presidential election.

 
Flynn joins the likes of former Trump campaign manager Paul Manafort, businessman Rick Gates, and former White House aide George Papadopoulos, who have all been indicted as part of the investigation.
 His plea could prove to be much more damaging to Trump than previous indictments, as Trump had earlier tried to convince former FBI Director James Comey to drop his investigation into Flynn, before firing Comey.

 

It wasn’t all bad news for the Trump administration…

 

The GOP tax bill has made significant progress this week keeping the bull market afloat.After passing the House, the bill made it through the Senate’s finance committee this week. Markets posted green returns towards the end of this week after John McCain voiced his support for the rough draft of the bill. However, the House and Senate still need to find a common ground on the final bill before it lands on President Trump’s desk.

 

And now what you’re all really here for: how is bitcoin doing?The leader of the cryptocurrency craze surpassed $10,000 on Wednesday before shortly reaching $11,000 right after. The digital currency dropped heavily following the record milestones but settled down around $10,500 to end the week. At this value, if you had invested $100 in Bitcoin 7 years ago, you would’ve made over $140 million. Talk about investing smarter.

 

From across the pond…

 

Brexit negotiations made some progress this week as an outline deal regarding the UK’s eventual exit from the European Union was reached. The two sides continue to negotiate over the question of the Irish border regulations as this has slowly become the toughest obstacle to maneuver in the Brexit discussions. The pound rallied to its highest level in two months following the news of the deal being reached.