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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.