Verizon pays the highest cash taxes among major U.S. telecom companies, CNBC reported, citing Wells Fargo analysts, who said the tax law will provide a significant financial boost to the industry.

U.S. stock indexes inched their way to more records on Monday to kick off a week full of profit updates from big U.S. companies. The S&P 500 rose 0.1% and squeaked past its prior all-time high set on Thursday.