What you need to know on Wall Street today

Associated Press/Evan Vucci

President Donald Trump speaks during the FBI National Academy graduation ceremony, Friday, Dec. 15, 2017, in Quantico, Va.

Republicans are expected to release the final version of their massive tax bill on Friday, setting up a frantic stretch to pass the plan through Congress next week.

The bill will be a compromise between the House and Senate versions of the Tax Cuts and Jobs Act, assembled by Republican members mostly from both chambers' tax-writing committees. The text of the legislation will be released around 5:30 p.m. ET, House Ways and Means Committee Chair Kevin Brady said. Here's what to expect.

In related news, JPMorgan's quant guru says traders are waiting for tax cuts to unleash more stock market gains.

The repercussions of Disney's industry changing deal to buy $66 billion worth of 21st Century Fox's assets are still emerging. Here's our latest:

• Disney just put a big question mark over Hulu's future
• Rupert Murdoch laid out his vision of TV's future after the Disney-Fox deal, and it raises a lot of questions
• Rupert Murdoch called allegations of sexual misconduct at Fox News "largely political"
• Centerview Partners has crushed 2017 - and its investment bankers are going to make a fortune in 2018 as well

Elsewhere in deal news, a photo from the CEO of Goldman Sachs is fueling Twitter takeover chatter.

Tech executives from Sheryl Sandberg to Microsoft's Brad Smith spoke out Thursday to decry the Federal Communications Commission's vote to kill net neutrality. The move by the FCC eliminates rules designed to stop broadband providers like Comcast and Verizon from charging customers more for access to certain sites, blocking or slowing down competitors' content, and charging for internet "fast lanes."

Here's how some of the top tech companies and industry executives reacted to Thursday's vote.

Lastly, Tesla is opening a new showroom in one of NYC's trendiest neighborhoods - take a look inside.