US stocks closed at record new highs once again after the Senate reached an agreement to reopen the government until February 8. The Senate voted 81-18 to end debate and proceed to a vote on the funding bill. The Dow Jones industrials were up 0.55 percent, the S&P gained 0.8 percent and the Nasdaq was 1.0 percent higher.
Energy and technology companies advanced and smaller companies reversed some early losses after the Senate vote. High-dividend stocks were also up as bond yields held steady.
Sanofi said it will buy hemophilia treatment maker Bioverativ for $105 per share, a deal the companies valued at $11.6 billion. Both companies advanced. Celgene will pay $87 per share, or $9 billion, for Juno Therapeutics. Juno is one of several companies developing CAR-T cancer therapies, which genetically engineer patients' blood cells into "living drugs" that fight cancer. Alphabet and Microsoft gained. Xerox was higher on the day.
AIG will buy Validus, a provider of reinsurance, primary insurance and asset management services for $5.56 billion. Validus gained but AIG slipped. General Electric and mining company Albemarle were lower but big technology companies continued to rally. Halliburton climbed after the company posted a bigger adjusted profit and greater revenue than expected. Schlumberger which reported better-than-expected results Friday also gained. Netflix advanced ahead of its quarterly results after the close.
These data reflect observations at 4:00 PM US ET. Gold at the afternoon London fixing was down US$2.35 to US$1,332.60. Copper futures were up 0.5 percent to US$3.20. WTI spot crude was up 12 US cents to US$63.49. Dated Brent spot crude was up 65 US cents to US$69.26. The US dollar was up against the yen. However it was down against the euro, pound, Swiss franc and the Canadian and Australian dollars. The Dollar Index was down 0.1 percent. The yield on the US Treasury 30 year bond was down 1 basis point at 2.92 percent while the 10 year note was unchanged at 2.66 percent.