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.