The Dow had its best day since March on Thursday.
It jumped above 24,000 for the first time as the Senate continued to progress towards passing its tax bill. Tech stocks also joined the party after a sell-off on Wednesday.
Here’s the scoreboard:
- Dow: 24,272.35, +331.67, (1.39%)
- S&P 500: 2,647.58, +21.51, (0.82%)
- Nasdaq: 6,873.97, +49.58, (0.73%)
- CVS is very close to buying Aetna, according to The Wall Street Journal. A deal would most likely be valued at $US200 to $US205 per Aetna share, the report said.
- Sen. John McCain said he would support the Senate Republican tax plan, significantly boosting the legislation’s chances of passing as it speeds toward a vote in the chamber. McCain’s support was considered a toss-up because he voted against tax cuts under President George W. Bush in 2001 and 2003.
- OPEC and non-OPEC producers led by Russia agreed in Vienna to extend oil output cuts until the end of 2018. The oil-producer cartel and other key players want to finish draining the excess supply of crude oil that dragged prices down in 2014.
- Sears continued its streak of declining sales in the third quarter, reporting a double-digit drop in comparable sales at its Sears and Kmart chains. Sales at Sears stores open for more than a year fell 17 per cent in the quarter ended Oct. 28, while comparable sales at Kmart fell 13 per cent.
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