Stocks Hit Records With GOP Set to Unveil Tax Bill: Markets Wrap
- Dollar advances with gold and crude, Treasuries steady
- S&P 500, Dow Industrials, Nasdaq indexes all reach fresh highs
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U.S. stocks rallied to new highs and the dollar strengthened as investors grew increasingly optimistic that Congress would reach a deal to cut corporate taxes.
The S&P 500 Index, Dow Jones Industrial Average and Nasdaq 100 Stock Index closed at records after Republican leaders said they’ll release the final version of the tax overhaul bill Friday evening. A vote is expected next week, with key senators signaling approval. Domestically focused small caps surged to give the Russell 2000 Index its best day since Nov. 16. The dollar gained for the ninth time in 10 sessions as the cuts are expected to bolster the world’s largest economy. Treasury yields were little changed.