The markets opened higher with the Dow climbing 88 points to 24,739 as the tax overhaul bill moved closer to a vote. Nasdaq gained 44 points to 6,980.

On the upside

Tencent and JD.com (Nasdaq: JD) will jointly invest $863 million in Vipshop Holdings (NYSE: VIPS).

Elliott Management acquired a 6.5% stake in Akamai Technologies (Nasdaq: AKAM).

Twitter (NYSE: TWTR) will begin enforcing new rules against hate and violence today.

On the downside

Shares of Glu Mobile (Nasdaq: GLUU) extended its losses.

Penn National Gaming (Nasdaq: PENN) will acquire Pinnacle Entertainment (Nasdaq: PNK) for approximately $2.8 billion in cash and stock.

McKesson (NYSE: MCK) chief financial officer and executive vice president James Beer will leave the company.

In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 2 on the NYSE and by nearly 7 to 2 on Nasdaq. The broader S&P 500 gained 10 points to 2,685. Bitcoin plummeted $552 to $18,627.