Here are five things you must know for Friday, Dec. 1:
Senate Republicans delayed further votes on their version of a tax bill until Friday after running into a procedural roadblock, although investors largely took the reports in stride thanks in part to the fact that Republican leaders had persuaded Sen. John McCain of Arizona to support the legislation, boosting expectations of passage.
The move came after a Senate rule-making office turned down a so-called trigger mechanism that would have raised taxes if the bill's revenue goals were missed, Bloomberg reported. Three Republican senators, whose votes are crucial for passage of the bill, had insisted on the trigger.
Prospects that the bill will pass helped boost U.S. stock markets on Thursday, Nov. 30, sending the Dow Jones Industrial Average and S&P 500 to records. The bill provides modest tax breaks for the middle class and significant benefits for the wealthy and corporations and will require borrowing some $1.5 trillion to add to the federal deficit.
The Dow added 332 points and traded well above 24,000, a level not seen before. The S&P 500 gained 21 points on Thursday, and the Nasdaq rose 49 points.
The Dow reached a new record for its third day in a row, while the S&P 500 beat a record set earlier in the week.
The S&P 500 and Dow also closed out November with their eighth straight month of gains and their 10th of the year. The Dow has not seen a month-on-month stretch this long since July 1995.
Industry consultants J.D. Power and LMC Automotive said U.S. auto sales in November likely fell 0.2% from the same month a year earlier.
New vehicle sales in the U.S. will come in at about 1.374 million units vs. 1.377 million units a year earlier, J.D. Power and LMC Automotive said.
3. -- Amazon.com Inc. (AMZN) has held preliminary talks with makers of generic drugs about the online retailer's potential entry into the pharmacy space, CNBC reported, citing people familiar with the discussions.
The conversations, including with generics giants Mylan NV (MYL) and Sandoz, a unit of Novartis AG (NVS) , have been high-level, but the nature of Amazon's plans isn't yet clear, the people told CNBC.
CNBC noted how investment bank Leerink confirmed in a note to investors on Thursday that Sandoz's Peter Goldschmidt at a recent biopharma event "met and discussed with Amazon its plans for getting into the U.S. healthcare market." But it wasn't made clear whether Amazon will enter as a drug wholesaler, meaning business-to-business, or sell generic medications as a retailer, CNBC reported.
The acquisition could be announced as soon as Monday, Dec. 4, The Wall Street Journal reported.
The latest price tag -- down from the Journal's previously reported $70 billion -- values Aetna at about $200 to $205 a share, and consist mainly of cash. Aetna shares closed Thursday at $180.18 with a market cap of $58.56 billion.
If the transaction cleared regulatory hurdles and closed, the deal would be an unprecedented merging of industries, experts told TheStreet.
Musk said he would build the 100-megawatt battery within 100 days of contracts for the project being signed at the end of September or hand it over to the South Australia state government for free.
Tesla shares fell 1.4% in premarket trading on Friday.
This story has been updated from 6:01 a.m. ET.
More of What's Trending on TheStreet: