Stocks getting another boost as the Senate squeaks tax reform through, but is now the right time for fiscal stimulus? Plus, there’s lots of optimism on the Street for tax reform, but the evidence is growing that- corporate tax cuts don’t work for Main Street. We explain. And, CVS buys Aetna in a mega deal – but is the real target here … Amazon? Catch The Final Round at 3:55 p.m. with Jen Rogers and Yahoo Finance Editor-in-Chief Andy Serwer.
Winners and losers
Stocks in the red today include Finisar on a bearish MKM Partners note claiming weak numbers when the fiber optics communications company reports on Thursday; Mazor Robotics on reports its CEO is under investigation by the Israel Securities Authority for insider trading; and Nokia, with shares slipping after BNP Paribas downgraded shares to Underperform claiming its rival Ericsson will gain market share in the mobile equipment space.
Stocks in the green today include Exactech as the medical devicemaker will be bought by TPG Capital for $737 million; Blue Apron as Barclays upgraded the meal-kit delivery service to Equalweight citing the new CEO and better risk/reward opportunity; and Disney, with shares getting a lift on a Journal report the company’s talks to buy some of Fox’s media assets is ‘gaining momentum.’
Lee Munson on the markets
Trump Bump, FAANG rally, Bitcoin bubble: 2017 has seen us repeatedly hit record highs. More to come? Lee Munson, President and CIO, Portfolio Wealth Advisors joins us now.