TheStreet Live

Wall Street ended at records for its second session in a row. Stocks benefited from a rally in crude oil that pushed the energy sector higher as well as positive earnings from world's largest retailer Walmart . Apple traded at all-time highs after Morgan Stanley hiked its price target. The firm said it saw increased sales optimism in China, representing "outsized growth" in fiscal 2018. Wells Fargo terminated four senior managers in community banking as part of its investigation into its sales practices. That investigation should conclude before its annual meeting in April. Europe's biggest bank HSBC fell after posting lower-than-expected full-year earnings. Pretax profit in 2016 slid 62% from a year earlier and fell short of consensus.

Stocks posted solid gains with the Dow Jones Industrial Average up for its eighth straight session on the back of positive retail earnings. Retailers Walmart , Home Depot and Macy's each topped quarterly profit estimates. Yahoo! was on watch following reports that Verizon had agreed to go forward with its acquisition. The telecom will reportedly shave off as much as $350 million from its original offer. Popeyes surged after agreeing to be acquired by Restaurant Brands in a deal worth nearly $2 billion. Restaurant Brands, which owns Burger King, said Popeyes will be managed independently in the U.S. Kraft Heinz slumped after scrapping its pursuit of Unilever . The latter had expressed little interest in negotiating and said Kraft's offer undervalued the company.

Wall Street held mostly lower in a quieter end to a record-breaking week in which stocks scored their best winning streak in a quarter century. That record rally has flagged over the past two days. UnitedHealth led the Dow Jones Industrial Average's losses after the Department of Justice joined a lawsuit accusing the health care company of overcharging Medicare. The company reportedly overcharged "hundreds of millions? and likely billions?of dollars." Deere exceeded first-quarter estimates and offered positive guidance. The agricultural equipment company anticipates full-year sales growth of 4%, higher than consensus of a flat reading. WebMD fluctuated after indicating it was open to selling itself. The online medical encyclopedia said it was looking into strategic alternatives, which could involve selling all or part of the company.

U.S. stocks are pointing to a lower start as global markets are down, especially in Europe. Investors are still digesting President Donald Trump's lengthy press conference in which he criticized the news media, said Republicans are in the final stages of presenting an alternative to Obamacare and announced his Labor Secretary nominee Alexander Acosta. The Dow Jones Industrial Average has hit record highs for 6 straight days. Blackberry now has virtually zero market share in smartphones. Gartner says out of the more than 431.5 million smartphones sold last year, about 200,000 were Blackberry devices that were running its own operating system. Microsoft windows phones share fell to .3% in the last quarter of 2016. The wireless wars keep going. AT&T is expanding access to unlimited data to all wireless customers after Verizon announced its own unlimited data plan earlier this week.

Snap Inc. is preparing for the biggest technology IPO since Alibaba in 2014. The parent of Snapchat has set its valuation at the low end of expectations. The Wall Street Journal says it is valued at $19.5 billion to $22.2 billion. At that range, it puts Snap shares at $14 to $16. Boeing workers rejected the union at its South Carolina plant. It was not a close vote, 74% cast ballots against it according to the Post and Courier newspaper. This is the second time the South Carolina Boeing workers have rejected being a part of a union. The workers at that plant make the Dreamliner plane. Merck is the latest drug company to try and fail to come up with a drug to treat Alzheimer's disease. It has chosen to stop trials of its once promising treatment. Merck's setback comes just 3 months after Eli Lilly's Alzheimer's treatment failed in a trial. Biogen still has a drug being tested to treat the devastating disease.

Wall Street closed at records for its fifth straight session in a row. That's its longest win streak since a six-session stretch in late 1991 to early 1992. Markets were again higher on hints of tax reform. Fossil Group tanked after a disappointing quarter ravaged by currency exchange woes. The watchmaker also guided for a weak full year and said several factors will "cause volatility," primarily foreign exchange and restructuring charges. SodaStream jumped following a far better quarter than expected. The homemade seltzer company reported an 18% increase in sales in Western Europe and 20% increase in the Americas. PepsiCo topped analysts' estimates on its top- and bottom-lines over its recent quarter. Frito-Lay North America sales jumped 10% and North America beverage sales rose 8%.

Stocks secured new intraday records as President Donald Trump again made vague references to a forthcoming tax reform plan. The president said a "massive" plan would be released in the "not-too-distant future." Domestic crude inventories rose at a steeper pace than anticipated. The Energy Information Administration reported an increase of 9.5 million barrels to U.S. stockpiles last week. Yahoo! jumped this morning on reports Verizon had reached a revised deal to acquire the Internet company. Verizon is reportedly close to making the new deal public. The acquisition was in jeopardy after a string of hacks left Yahoo vulnerable. Fortress Investment rocketed higher after Softbank agreed to buy the asset manager for $3.3 billion. The per-share offer values Fortress at a 39% premium to its close at the beginning of the week.

Stocks were in flux as Wall Street digested comments from Federal Reserve Chair Yellen coming from Capitol Hill. Yellen reiterated that rate hikes would be gradual, though cautioned it would be unwise to wait too long. Mattel inched higher after securing a partnership with Alibaba to sell its toys in China and develop products specifically for the region. Mattel will use Alibaba's Tmall.com platform. Credit Suisse climbed despite a wider-than-expected loss in the bank's fourth quarter. The Swiss bank recently reached a multi-billion-dollar settlement with the Department of Justice over its sale of mortgage-backed securities. Aetna rose while Humana dipped after the two disbanded a merger agreement. The deal had been and would likely continue to be subjected to intense regulatory scrutiny from the DoJ.

President Donald Trump will meet with Canadian Prime Minister Justin Trudeau at the White House today. The two leaders will likely discuss the North American Free Trade Agreement, or NAFTA, at today's meeting at the White House. Canadian Prime Minister Justin Trudeau has been a proponent of NAFTA as well as accepting refugees in the country. This is the first face to face meeting since Trump's election to the President. Verizon (VZ) will introduce a new unlimited data plan today, it's first in more than 5 years. Verizon is feeling competition from other network carriers. Reuters says the plan will give unlimited data for $80 a month for customers on its 4G LTE network. Walt Disney (DIS) increased tickets to Disney world over the weekend. For most Disney theme parks, mid-tier tickets will cost $107, up from $102. Peak season tickets-generally Spring Break, Christmas and summer will now cost $119, up from $114.

President Donald Trump has abandoned plans to pursue the Trans-Pacific Partnership, TPP. Japan's Prime Minister Shinzo Abe is in Washington and will meet with the President today. Also, President Trump had a phone call with Chinese President Xi Jinping and affirmed the United States behind the 'One China' policy. Tom Price was confirmed as the new Health and Human Services Secretary in the wee hours of the morning. The vote was 52-47. This puts the former orthopedic surgeon in charge of overhauling Obamacare. Oil prices are high after the Energy Information Administration lifted its demand forecast and said OPEC is sticking to its pledge to cut production. It says a record 90% of OPEC countries are in compliance with the agreed upon production cuts. The monthly budget statement will be released later today. January import prices will also be reported. February Michigan sentiment is also out.