Midday Update: Stocks Reach Fresh Records as Tax Reform Likelihood Increases

Stocks across the board set new highs. The Dow, S&P 500 and Nasdaq all reached intraday records.

Tax reform is back in focus as investors expect a Capitol Hill vote on the measure this week. Wall Street is hoping it'll become law by the New Year.

Hershey Co. (HSY) - Get Report announced a $1.6 billion deal to acquire Amplify Snack Brands Inc. (BETR) , the maker of SkinnyPop, for $12 per share. Amplify stock rallied 70% on the news.

In other deal news, Campbell Soup Co. (CPB) - Get Report will buy pretzel and chips maker Snyder's-Lance Inc. (LNCE) for $50 per share, or $4.87 billion.

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