Wall Street at Records as GOP Tax Bill Heads to Senate Vote
Wall Street ended at records as the Senate GOP's tax bill cleared the Senate Budget Committee, moving it toward the floor for a vote later this week. Stocks also shrugged off the latest ballistic missile test from North Korea.
Retailers weren't moving in any clear direction even after sales hit record levels on Cyber Monday. Revenues hit nearly $6.6 billion, according to an Adobe report, an all-time high and up almost 17% from a year earlier.
Nike Inc. (NKE) - Get Report came off lows, though remained in the red through to the close. The footwear retailer sold off earlier after HSBC downgraded its rating to hold from buy based on valuation concerns.
Merck & Co. Inc. (MRK) - Get Report climbed after upping its dividend and authorizing $10 billion dollars in share buybacks. The drugmaker raised its quarterly dividend to 48 cents a share, its first increase in 12 months.
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