- Reuters/Mike Blake
Here is what you need to know.
The Dow soars above 24,000. The Dow Jones industrial average soared 331.67 points on Thursday, vaulting above the 24,000 level for the first time.
The Senate’s tax vote is coming. The Senate is expected to vote on its version of the Tax Cuts and Jobs Act at some point on Friday, with passage appearing closer than ever.
OPEC and Russia agree to extend oil production cuts until the end of 2018. The agreement will allow the oil-producer cartel and other key players to finish draining the excess supply of crude oil that dragged prices down in 2014.
Broadcom won’t increase its offer for Qualcomm until next year. Broadcom is unlikely to raise its $105 billion offer for Qualcomm until closer to its board meeting in March, according to Bloomberg’s Alex Barinka, Ian King, and Ed Hammond.
A ‘Big Four’ accounting firm is accepting bitcoin payments. “This decision helps illustrate how we are embracing new technology and incorporating innovative business models across our full range of services,” Raymund Chao, the chairman of PwC Asia-Pacific, said in a statement.
CVS and Aetna are reportedly nearing a $66 billion deal. CVS is closing in on a deal that would pay $200 to $205 per Aetna share, The Wall Street Journal reports.
Blue Apron’s CEO is out. The cofounder Matt Salzberg has stepped down as Blue Apron’s president and CEO after shares of the company have tanked 70% since its initial public offering in June.
Stock markets around the world are lower. China’s Shanghai Composite (-0.62%) trailed in Asia, and Germany’s DAX (-1.39%) lags in Europe. The S&P 500 is set to open down 0.52% near 2,634.
Earnings reporting is light. Big Lots reports ahead of the opening bell.
US economic data flows. Markit US Services PMI will be released at 9:45 a.m. ET before both ISM Manufacturing and construction spending cross the wires at 10 a.m. ET. The US 10-year yield is down 4 basis points at 2.37%.