US stocks surged to new record highs amid investor expectations that the final version of the GOP tax bill will be released on Friday evening.
The S&P 500 soared 0.8%, while the Dow Jones Industrial Average increased 0.6% and the more tech-heavy Nasdaq 100 index climbed 1%.
First up, the scoreboard:- Dow: 24,623.27, +114.61, (+0.47%)
- S&P 500: 2,674.94, +22.93, (+0.87%)
- Nasdaq: 6,933.95, +76.47, (+1.12%)
- US 10-year yield: 2.36%, +0.01
- WTI crude oil: $57.28, +$0.24, +0.42%
1. JPMorgan's quant guru says traders are waiting for tax cuts to unleash more stock market gains . Marko Kolanovic, the firm's global head of quantitative and derivatives strategy, says a successful Republican tax overhaul will give equities a huge shot in the arm in 2018.
2. A photo from the CEO of Goldman Sachs is fueling Twitter takeover chatter . The company's stock surged as much as 7.3% on Thursday, closing at its highest level in 14 months, amid speculation that Twitter and Goldman are re-engaging in discussions around a sale to Disney.
3. Oracle tops Wall Street targets - but shares sink more than 4% . The company reported strong quarterly earnings after the closing bell on Thursday afternoon, beating revenue and profit estimates.
4. Bitcoin pops to new all-time high . The red-hot cryptocurrency reached a new record versus the dollar, and has been steadily recovering ground after falling as low as $13,000 on Sunday.
5. Facebook admits that social media can be bad for you . In a blog post published on Friday, Facebook addressed a "hard question": "Is spending time on social media bad for us?"
ADDITIONALLY:Corker and Rubio reverse course, and the GOP tax bill now looks like a slam dunk to pass
Walmart and Amazon's long-simmering feud exploded in 2017 - and it's redefining retail
Ripple hires Facebook communications manager after its cryptocurrency triples in a week
There's a lot to learn about bitcoin from looking at the tulip bulb bubble
TOP TECH ANALYST: Only one thing could stop the FANGs from skyrocketing in 2018