U.S. stocks traded at record highs, as investors reacted to the passage of a Senate tax reform bill. The Dow and the S&P 500 were in the green. The Nasdaq, meanwhile, was lower.
Shares of CVS Health Corp. (CVS) dropped after the company announced that it would buy health insurer Aetna for $69 billion dollars. It is a cash-and-stock deal that values Aetna at about $207 a share.
Walt Disney Co. (DIS) stock was a top performer for the Dow. Shares jumped following reports that Twenty-First Century Fox Inc. (FOXA) has revived talks to sell parts of its business to the House of Mouse.
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.
Breaking down an approach to the long side of this biotech stock.
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