Stocks swung between green and red Wednesday, finishing largely unchanged after oil took a tumble and the threat of a possible government shutdown if no government spending deal is reached this week.
Here’s the scoreboard:
- S&P 500: 2,628.59 (-0.04%)
- Dow: 24,152.50 (-0.12%)
- Nasdaq: 6,778.031 (+0.23%)
- Oil: $US55.89 (-2.73%)
- 10-year treasury bond: 2.35% (-0.83)
- UnitedHealth Group Inc said it would buy kidney care services provider DaVita Inc’s medical unit for about $US4.9 billion cash, as the health insurer looks to expand operations in outpatient care services.
- Home Depot is buying back $US15 billion worth of its stock from shareholders.
- Major Wall Street firms, including Goldman Sachs, say to expect more M&A activity in 2018 thanks to the GOP tax plan and robust cash levels.
- Tim Cook gave a big speech about apps in China, but the stock stayed flat.
In other news…
- Bitcoin topped $US12,000 for the first time and is gunning towards $US13,000.
- Aetna wants to create a ‘Genius Bar’ at CVS, and it could forever change the way Americans access healthcare.
- A small New York City chain is siphoning off hungry burrito eaters as Chipotle struggles.
- It’s now easier than ever to bet on the ‘retail apocalypse’ thanks to a new Decline of the Retail Store ETF from ProShares.
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