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Stocks shrug off Italy's NO vote as oil moves higher

Wall Street kicked off the week on an upbeat note with the Dow Industrials (^DJI) hitting a new record high after investors shook off a “no” vote in Italy’s referendum. Oil prices were also higher on optimism about OPEC’s deal last week to cut production.

Stocks to watch

McDonald’s (MCD) shares were higher this morning after Nomura turned bullish on the fast-food chain, upgrading the stock to “buy” from “neutral” and raised its price target to $139 from $126 a share. The investment firm is optimistic that same-store sales will improve and is encouraged by potential menu updates in 2017, such as the new burgers and and the roll out of its smartphone ordering system.

Related: McDonald’s upgraded to buy, Aetna/Humana head to court, Apple’s self-driving car plans

Apple in the driver’s seat
We are learning a bit more about Apple’s (AAPL) interest in developing technology for self-driving cars. In a letter to safety regulators, Apple reveals it is “investing heavily in the study of machine learning and automation” in areas including transportation. An Apple spokesperson said the company wants to work with the National Highway Traffic Safety Administration to define best practices for the autonomous driving industry. What does Apple bring to this crowded field?

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Microsoft’s plans for smart homes
There’s new buzz about Microsoft’s (MSFT) plans to compete in the smart home speaker space. A new report says the company’s “Home Hub” is a software update for Windows 10 that will make a Windows PC a bit more like a smart speaker. The report in Windows Central says Microsoft’s product will not be a device like the Amazon (AMZN) Echo or Google (GOOGL) Home, but will able to do what those products do. What advantages does Microsoft bring to this market?

Trump’s Tweet targets
Donald Trump recently took aim at Rexnord (RXN), an Indiana manufacturer, saying the company is “moving to Mexico and rather viciously firing all of its 300 workers.” Trump last week struck a deal with Carrier to keep some jobs from moving to Mexico and this weekend warned companies that move overseas and send products to the US: “There will be a tax on our soon-to-be strong border of 35% for these companies.” Will that fly in Congress?