US stocks rallied big on Tuesday, even shrugging off North Korea's latest missile test during the trading session.
Here's the scoreboard:
- Dow: 23,840.34 +259.56 (1.10%)
- S&P 500: 2,627.40 +25.98 (1.00%)
- Nasdaq: 6,911.52 +33.00 (0.48%)
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Roark Capital Group, the owner of Arby's and Cinnabon, has agreed to buy Buffalo Wild Wings for about $2.9 billion . The private-equity firm will pay $157 a share in cash for Buffalo Wild Wings, which is 34% above the company's closing stock price on November 13, the day before Roark's initial bid of $150 a share.
- Jerome Powell, the nominee to replace Janet Yellen as Federal Reserve Chair, said there are no more "too big to fail" banks during his confirmation hearing . This could come back to haunt him during his tenure if there's a financial crisis. "I think the case for raising rates at our next meeting [in December] is coming together," he also said.
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The Senate Budget Committee reported the Tax Cuts and Jobs Act to the full Senate on a party-line vote of 12 to 11
. It was the last procedural hurdle that needed to be cleared before the bill can be debated by the whole chamber.
- Bitcoin cleared $10,000 for the first time ever, according to data from Markets Insider . It's up more than $2,000 since Thursday's low of $7,979 per coin.
- Shares of Roku slumped as much as 2.5% on Tuesday afternoon following some downbeat commentary from short seller Andrew Left's Citron Research . "Time to pop some real bubbles," the firm's Twitter account said. "$ROKU, total joke."