Closing Bell: Yahoo! and Verizon Deal Could Fall Apart; Stocks Climb

Wall Street rebounded from a selloff a day earlier as markets adjusted to forecasts for a quickened pace of rate hikes next year.
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Wall Street rebounded from a selloff a day earlier as markets adjusted to forecasts for a quickened pace of rate hikes next year. Stocks climbed, though not by enough to secure new records. The Dow neared its 20,000 level. Yahoo! (YHOO) tumbled on reports its latest data breach could sound the death knell for its Verizon (VZ) - Get Report deal. The telecom is reportedly considering either scrapping its deal or requesting a discount from the $5 billion offer Yahoo! accepted. 21st Century Fox (FOXA) - Get Report formalized an agreement to buy Sky. Fox anticipates the acquisition will close by the end of 2017. MasterCard (MA) - Get Report and Visa (V) - Get Report were upgraded to BUY at Bank of America. Analysts said the credit card companies are consistent growers and deserve a premium valuation.