Stocks Opened Higher on Senate Tax Bill Approval

U.S. stocks surged at the opening on Monday after the U.S. Senate passed its version of a tax overhaul bill. The Dow Jones Industrial Average lately rose 249.14 points, or 1.03%, to 24,480.73. The S&P 500 gained 19.89 points, or 0.75%, to 2,662.11. The Nasdaq Composite added 34.57 points, or 0.50%, to 6,882.16.

Oil fell on Monday after U.S. shale drillers added more rigs last week. February Brent crude futures fell 75 cents on the day to $62.98 a barrel by 1423 GMT, while U.S. West Texas Intermediate futures were down 67 cents at $57.69.

U.S. drugstore chain operator CVS Health said on Sunday it had agreed to acquire U.S. health insurer Aetna for $69 billion, seeking to tackle soaring healthcare spending through lower-cost medical services in pharmacies.