The Economy
OPEC, Russia Agree To Extend Oil Supply Cuts
The OPEC and non-OPEC producers led by Russia have agreed to extend oil output cuts through 2018. The current deal to reduce oil supply by 1.8 million barrels per day was originally set to expire in March.
EU, Britain Agree On Post Brexit Settlement, Says Official
The European Union has agreed on a financial settlement with Britain, said an EU official on Thursday. No specific figures were discussed, as the amount to be paid by Britain will depend on certain variables.
The Markets
Stock Market Soars On Increased Possibility Of Tax Bill Getting Passed
Both the Dow Jones and S&P 500 hit all-time highs on Thursday as the possibility of the Senate passing President Donald Trump’s tax bill was increased thanks to vocal support from Senator John McCain. The Dow was up 1.4%, surpassing the 24,000 mark for the first time. The S&P went up by 0.2%.
CVS Closing In On $66 Billion Deal For Aetna
CVS Health Corp. (NYSE:CVS) is moving closer to its proposed $66 billion cash-and-stock deal to buy Aetna Inc. (NYSE:AET), which could potentially be closed next week. According to reports, the deal would value Aetna at between $200 and $205 per share.
GM Plans Mass Launch Of Self-Driving Cars In 2019
General Motors Company (NYSE:GM) plans to rival Alphabet’s Waymo and launch a fleet of self-driving vehicles in 2019. Earlier this month, the company announced plans to sell one million electric vehicles a year by 2026.
Top Active Stocks
Home Depot (NYSE:HD) climbed to an all-time high on Thursday, up 1.4% at market close to $179.82 per share. The stock has been on the rise this week thanks to impressive sales numbers in a still-growing housing market.
Kroger (NYSE:KR) gained 6.1% on Thursday as the supermarket giant reported sales and earnings that beat forecasts. For the latest fiscal quarter, sales grew by 1.1%, and the company is expecting an even wider margin next quarter.
Goldman Sachs (NYSE:GS) rose by 2.6% on higher U.S. Treasury yields based on inflation and unemployment data. The yields on 10-year and 30-year treasuries hit two-week highs on Thursday.
Enbridge Inc. (NYSE:ENB) shares jumped by as much as 8.1% on Thursday as the company announced plans to sell $3 billion of its non-core assets to focus on its main businesses. This is part of the company’s plans to reduce debt and increase dividends.
Juniper Networks Inc. (NYSE:JNPR) went down by 6.2% as Nokia denied on Thursday that it is in talks to buy Juniper in a $16 billion deal.
Featured image: Depositphotos/ alexlmx
