Stocks hit records as investors await tax bill
Stocks (^DJI, ^GSPC, ^IXIC) hit records as investors await the release of an updated tax bill. Catch The Final Round at 3:55 p.m. with Jen Rogers, Yahoo Finance editor-in-chief Andy Serwer, reporter Melody Hahm and markets correspondent Myles Udland.
Today we discuss:
What to expect from the GOP tax bill
Why Trump’s “tax cut for the rich” has so many hedge fund managers looking to move to Florida
Will we see Dow 25,000 in 2017?
Why Amazon Prime may have plateaued
Winners & Losers
Stocks ending the day in the red include:
Rail operator CSX as its CEO is taking an unexpected leave of absence due to health issues;
Fitbit on a downgrade to sell at Stifel Nicolaus, with analysts citing concerns over profitability and revenue;
Oracle after reporting cloud revenue below expectations and giving disappointing cloud growth guidance.
Meanwhile, stocks finishing the day to the upside include:
Costco after the warehouse club beat on earnings, with same store sales growing nearly 8%;
Hess on news that it’s once again under pressure from activist hedge fund Elliott Management;
Under Armour on an upgrade to buy at Stifel Nicolaus, with a $17 price target.