It was a busy afternoon on Capitol Hill after the GOP scored a narrow victory in the passage of its health care bill through the House. The Obamacare replacement will now head to the Senate. The S&P 500 and Nasdaq ended with slight gains. Crude ended at its lowest level since the end of November. West Texas Intermediate fell nearly 5% on worries over increasing U.S. and global oil production. General Mills (GIS) surged earlier on unsubstantiated talk of a takeover, though eased back on doubts of the claims' veracity. Speculation comes a day after long-time CEO Ken Powell said he would step down next year. Fitbit (FIT) rallied on a quarterly beat and after noting that planned product launches for this year were on track. Investors have high hopes for the recently-launched Alta HR and the company's rumored smartwatch currently in development.
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Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Salesforce, Amgen and Honeywell will give a lift to the DJIA going forward.
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.