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U.S. stock futures rose early Friday after the Senate adopted a budget for the next fiscal year, a move that is seen as paving the way for tax reform. Dow Jones Industrial Average futures gained 76 points, or 0.3%, to 23,190, while S&P 500 futures rose 6.25 points, or 0.2%, to 2,566.75. Nasdaq-100 futures gained 16.75 points, or 0.3%, to 6,114.75. The Senate passed the budget blueprint late Thursday in a 51-49 vote. Wall Street stocks have been moving higher since the election of U.S. President Donald Trump last year, with gains driven in part by hopes for tax reform.

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Chariot, a Ford Motor Co. -backed commuter shuttle service has been suspended by the California Public Utilities Commission after it failed three successive California Highway Patrol inspections, a spokesman told MarketWatch. “The CPUC has a responsibility to suspend a carrier’s operating permit for failure to maintain a vehicle in safe operating mode, other violations related to transportation safety, and/or failure to comply with the DMV’s employee Pull Notice Program,” the spokesman wrote in an email. Chariot customers in San Francisco tweeted screenshots of an email from the company informing them of the service suspension shortly before the evening commute. The CPUC’s decision affects the San Francisco Bay Area, but Chariot also operates in Seattle, Austin, Texas and New York, according to its website. A spokeswoman declined to answer questions about the safety violations and said in an emailed statement that the company disagrees with the CPUC order and that Chariot is in “full compliance” with regulations. “Chariot is committed to providing our customers with safe and reliable service,” the spokeswoman wrote. “We also are committed to complying with government orders even when we disagree and using appropriate legal processes to resolve them as expeditiously as possible.” Ford did not return a request for comment.

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Microsoft Corp. closed Thursday with a market capitalization of $600 billion for the first time since 2000, just before the dot-com bubble burst, according to FactSet. The last time the stock touched $600 billion was Jan. 3, 2000. The return to a $600 billion valuation comes as the company has become a force in cloud computing under the leadership of Chief Executive Satya Nadella. Microsoft stock was up less than 1% after hours and closed up 0.4% to $77.91. The Redmond, Wash.-based company is up 25.4% this year, with the S&P 500 index up 14.4%. Microsoft is the third largest company by market capitalization, behind Alphabet Inc. and Apple Inc. , according to FactSet.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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Celgene Corp. shares dropped in the extended session Thursday after the biotech company said it would discontinue two clinical trials for a Crohn’s disease treatment and not start a third. Celgene shares fell 6.2% to $127.55 after hours, following a brief halt. Based on an analysis from a data monitoring committee assessing overall benefit and risk, Celgene said it would discontinue a late-stage clinical trial for the drug GED-0301 to treat Crohn’s disease along with an extension trial. Crohn’s disease is characterized by a chronic inflammation that can run the entirety of the digestive tract. Celgene said it will also not start a third late-stage clinical trial of the drug for Crohn’s disease.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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NCR Corp. shares fell in the extended session Thursday after the ATM and payment processing company’s outlook fell below Wall Street estimates. NCR shares fell 10% to $33.40 after hours. For the fourth quarter, NCR estimates adjusted earnings of 83 cents to 93 cents a share on revenue of $1.74 billion to $1.79 billion. Analysts surveyed by FactSet expect earnings of $1.10 a share on revenue of $1.92 billion. The company reported third-quarter net income of $106 million, or 77 cents a share, compared to $92 million, or 68 cents a share, in the year-ago period. Adjusted earnings were 93 cents a share. Revenue declined to $1.66 billion from $1.68 billion in the year-ago period. Analysts had estimated 90 cents a share on revenue of $1.69 billion.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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Shares of Maxim Integrated Products Inc. rose in Thursday’s extended session after the chip maker posted better-than-expected earnings and announced an upbeat outlook. Maxim reported its fiscal first-quarter earnings slipped to $154.5 million, or 54 cents a share, from $163.3 million, or 57 cents a share, a year earlier. On an adjusted basis, Maxim would have earned 60 cents a share. Revenue totaled $575.7 million versus $602 million in the year-ago period. Analysts surveyed by FactSet had forecast the company to earn 56 cents a share on revenue of $577 million. In the current quarter, Maxim expects to report revenue in a range of $600 million to $640 million and adjusted earnings per share of 61 cents to 67 cents, ahead of Wall Street’s estimates of $584 million in revenue and EPS of 57 cents. Maxim shares rose 2.3% after hours.

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The U.S. dollar took a dive in late afternoon trade on Thursday, following a news report that President Donald Trump is leaning toward Jerome Powell as the next chairman of the Federal Reserve. Powell, who is currently a governor at the central bank, is considered a dovish candidate, as is Chairwoman Janet Yellen, whose term ends in February. The ICE U.S. Dollar index slipped 0.3% to 93.126.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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