Higher open over continued enthusiasm for tax bill

The markets opened higher with the Dow gaining 52 points to 24,778 as investors continued to celebrate the passage of the tax bill. Nasdaq rose 12 points to 6,972.

On the upside

Corcept Therapeutics (Nasdaq: CORT) will replace Gigamon (NYSE: GIMO) in the S&P SmallCap 600 before market open on Wednesday, December 27.

Voya Financial (NYSE: VOYA) will sell its Closed Block Variable Annuity businesses.

Athene Holding (NYSE: ATH) entered an agreement with Voya Financial (NYSE: VOYA) to reinsure approximately $19 billion of fixed and fixed indexed annuity liabilities.

On the downside

PG&E (NYSE: PCG) suspended its dividend citing potential liabilities related to wildfires in Northern California.

Bed Bath & Beyond (Nasdaq: BBBY) reported lower third quarter earnings while same store sales slipped 0.3%.

The Public Service Commission of South Carolina will consider lowering rates for SCANA (NYSE: SCG) customers.

In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 rose 4 points to 2,683. Bitcoin plummeted $690 to $15,598.

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