Stocks earned a small gain for the week after a mostly quiet day of trading for the three main indexes. Health insurance and hospital stocks gained following news that the GOP’s latest attempt to repeal Obamacare appears doomed.
Here’s the scoreboard:
- Dow: 22,346.97 -12.26 (-0.05%)
- S&P 500: 2,502.42 +1.82 (0.07%)
- Nasdaq: 6,425.59 +2.90 (0.05%)
- Sen. John McCain of Arizona may have dealt a fatal blow to the GOP’s latest healthcare legislation. In a statement, McCain said the lack of “regular order” in crafting the legislation meant he could not support it.
- T-Mobile and Sprint are closing in on a deal. Japan’s SoftBank Group, which controls Sprint, will own 40% to 50% of the combined company, two sources familiar with the matter told Reuters.
- JPMorgan CEO Jamie Dimon doubled down on his anti-bitcoin position, saying cryptocurrencies like bitcoin and ether ‘are a kind of novelty.’ “It’s creating something out of nothing that to me is worth nothing,” Dimon told CNBC-TV18 in New Delhi. “It will end when people lose a lot of money.”