STOCKS HIT RECORD HIGHS: Here's what you need to know

Monday’s stock markets behaved predictably, which is to say all of the major indices closed at a record high.

In a move that is all but expected lately, the Dow Jones Industrial Average, Nasdaq composite and the S&P 500 all hit record highs on Monday. All the major markets moved higher as the Senate begins the first step of tax reform and US President Trump said that Obamacare is “dead.”

Here’s the scoreboard:

  • Dow: 22,951.40, +79.68, (0.36%)
  • S&P 500: 2,556.93, +3.76, (0.15%)
  • Nasdaq: 6,623.15, +17.15, (0.26%)
  • US 10-year yield: 2.28%, -0.05
  • WTI crude oil: $US51.89, 0.47, 0.91%
  1. ‘The death of tax reform’?: Trump’s tax plan is about to face a huge test in the Senate. The Senate is expected to consider a budget resolution this week.
  2. The retail apocalypse just sabotaged Nordstrom’s attempt to go private — and the whole industry is getting hit. The company’s quest to go private is over, for now.
  3. Bets on a ‘dangerous’ trade that reminds experts of the 1987 market crash just broke a record. The biggest one-day decline in the markets saw its 30th anniversary today.
  4. The newest Trump tax plan selling point is comically bad. The White House is trying to sell its new tax plan as a way to increase wages of the middle class, but it’s tried that before.
  5. Ruby Tuesday is getting bought out after years of declining sales. Following four years of declining sales, Ruby Tuesday threw in the towel and said it wants to be bought.

Other headlines

Oil climbs as fighting escalates in Iraq’s oil-rich Kirkuk

Alternative investment managers are on fire this year — and they could just be getting started

Tesla is falling after firing hundreds of workers

’60 Minutes’ just laid out the ugliest truth about the opioid crisis

TRUMP: ‘There’s no such thing as Obamacare anymore’

Ford could face a doomsday scenario where no one wants its used cars

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