Stocks added to Friday’s gains as the GOP tax plan continues to edge closer to President Donald Trump’s desk. A report out Monday found the final bill to be “pro-growth” but not to the full effect that Republicans had promised. Lawmakers are expected to pass the final Tax Cuts and Jobs act on Wednesday.
CME’s bitcoin futures launched Sunday night, and the cryptocurrency shot to all-time highs before ultimately settling lower. CME’s launch follows a similar launch by Cboe a week ago.
The Dow, S&P 500 and Nasdaq all posted gains on Monday.
Here’s the scoreboard:
- Dow:24,799.20, +150.46, (+0.60%)
- S&P 500: 2,690.56, +14.75, (+0.55%)
- Nasdaq: 6,993.38, +57.93, (+0.82%)
- US 10-year yield: 2.35%, +0.00
- WTI crude oil: $US57.17, -0.19, (-0.33%)
- Warren Buffett’s Berkshire Hathaway tops $US300,000 a share for the first time. This comes despite four straight quarters of lower operating profit.
- GOLDMAN SACHS: Here’s how to make a killing in a market that’s barely moving. Goldman recommends investors look for stocks with high Sharpe ratios.
- A Fed official who has been voting against rate hikes thinks he knows why wages aren’t rising faster. Minneapolis Fed President Neel Kashkari worries the central bank’s interest-rate hikes are actively contributing to a decline in US inflation expectations that could make its job harder in the next downturn.
- Campbell Soup is buying snacks maker Snyder’s-Lance for $US4.87 billion. Campbell Soup has agreed to buy Snyder’s-Lance for $US50 a share in an all-cash deal.