The Dow Jones industrial average hit a record high in trading on Monday, the 22nd record close of 2017. The S&P 500 similarly broke through to a record close as well.
Tech stocks bounced back after a slew of down days from bad headlines, with the Nasdaq composite finishing up more than 1%.
We’ve got all the headlines, but first, the scoreboard:
- Dow: 21,515.60 +132.06, (+0.62%)
- S&P 500: 2,452.21, +19.44, (+0.80%)
- Nasdaq: 6,236.60, +86.20, (+1.40%)
- US 10-year yield: 2.190%, +0.033
- WTI crude oil: $US44.12, -0.62, -1.39%
- Food delivery start-up Blue Apron kicked off its IPO roadshow. Blue Apron plans to raise up to $US586.5 million in its initial public offering, according to a regulatory filing on Monday. The company said it plans to sell 30 million shares to investors at an estimated IPO price of between $US15 and $US17 per share.
- Sen. Elizabeth Warren sent a letter to the Federal Reserve asking for the board of Wells Fargo to be removed. Warren argued that the directors present from 2011 to 2015, when Wells Fargo employees opened as many as 2.1 million accounts for customers without their knowledge, need to go — and that the Fed has the authority to remove them under a Congressional statute.
- Snap surges on a $US100 million deal with Time Warner. The deal means that Time Warner will pay Snap $US100 million to develop shows and advertise in the app over the next two years, according to a person familiar with the matter. Shares of Snap jumped just over 2%.
- Democrats plan to bring the Senate to a screeching halt to protest the GOP healthcare bill. The combination of parliamentary procedures will slow, but not stop, passage of a bill. This will likely slow down progress on other agenda items like tax reform as well.
- Altaba, the successor to Yahoo, began trading on Monday. The leftover parts of Yahoo, including Yahoo Japan and a large investment in Chinese e-commerce giant Alibaba, began trading under the ticker AABA.
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