These are the stocks posting the largest moves before the bell.Market Insiderread more
Mnuchin tells CNBC he's confident President Trump and China's Xi Jinping can make progress in stalled trade talks.World Economyread more
U.S. stock index futures jumped Wednesday morning after Treasury Secretary Steven Mnuchin told CNBC that the U.S. and China were close to reaching a trade deal.US Marketsread more
JP Morgan's Jamie Dimon says student lending "is a disgrace and its hurting America," he told Yahoo Finance Tuesday.Economyread more
Trump is willing to talk with Iran, but he's "also determined to enforce the U.S. and our allies' interests in the region," Mnuchin tells CNBC.Politicsread more
Democrats want Mueller's testimony on his probe into Russian interference in the 2016 election and Trump's efforts to influence it.Politicsread more
Mortgage application volume was 40% higher than a year ago, largely because lower rates are strengthening the refinance market.Real Estateread more
Stocks should rally if the U.S. and China agree to new negotiations and a ceasefire in the trade war, but the economic impact of tariffs will continue.Market Insiderread more
Bitcoin surged as high as $12,919 in early morning trade Wednesday, to its highest level since January 2018.Technologyread more
AbbVie's deal to buy Allergan for about $63 billion is a "nice exit from a tough situation," RBC Capital Markets analyst Randall Stanicky says.Biotech and Pharmaceuticalsread more
Omada Health just raised $73 million at a valuation of around $600 million as it seeks to expand its digital health offerings.Technologyread more
Retailers closed higher on Monday as investors bet on strong sales during the holiday season following a strong Black Friday.
The SPDR S&P Retail exchange-traded fund (XRT) closed 0.3 percent higher, after rising as much as 1.5 percent. Macy's and Kohl's also rose session highs. Gap shares, meanwhile closed 1.2 percent higher after Wall Street analysts dubbed the company the "weekend winner."
E-commerce giant Amazon gained 0.8 percent as data from Adobe Analytics showed online Black Friday sales rose nearly 17 percent from last year. The stock, however, finished below a record high set earlier in the session.
"That space seems to be a 'show me' story," said Art Hogan, chief market strategist at Wunderlich Securities. "It only takes a bit of good news for these companies to go higher." He noted, however, that Wall Street remained cautious ahead of a key vote set for later in the week.
The Dow Jones industrial average rose 22.79 points to close at 23,580.78 points higher, just missing a record close. However, the index did manage to hit an intraday record of 23,638.92.
The fell 0.04 percent to close at 2,601.42, as a 6.7 percent pullback in Western Digital offset a 4 percent gain in L Brands. The Nasdaq composite, meanwhile, declined 0.15 percent to finish the day at 6,878.52. Both indexes had also reached record highs before closing lower.
The Senate is expected to vote on a bill aimed at reforming the U.S. tax code on Thursday. Investors have been eagerly awaiting tax reform since last year's election, but doubts about whether the Republican-led Congress would be able to achieve this before year-end have lingered.
If the Senate bill passed, then a joint bill with the House would have to be created. The House passed a bill on Nov. 16 to cut taxes on businesses and individuals, but it differs from the Senate bill in some key areas.
The most significant difference between the chambers' plans is the treatment of state and local tax deductions. The Senate plan would eliminate those deductions entirely. The measure could alienate some House Republicans who voted for the chamber's bill that would allow up to $10,000 in property tax deductions.
However, L. Thomas Block, Washington policy strategist at Fundstrat Global Advisors, said he expects a joint tax bill to be passed by Christmas.
"House and Senate Republicans can't face the voters in 2018 without passing a tax bill," he said.