|Day's Range||24,584.44 - 24,688.62|
|52 Week Range||19,677.94 - 24,688.62|
March E-mini Dow Jones Industrial Average futures posted a solid gain on Friday as investors shrugged off early concerns about tax reform only to be rewarded later in the session with news that the long-awaited bill to cut corporate tax rates looked like it would win enough support from lawmakers to pass. The intraday surge in the Dow was fueled when Senators Marco Rubio and Bob Corker, who had criticized the proposal, signaled support for the bill in the late afternoon. The E-mini Dow poked through the previous closing price reversal top at 24703, reaching a high of 24708, but the rally stalled there with most of the speculative money moving into the NASDAQ Composite which posted a 1.40% gain.
The Dow Jones Industrial Average climbed to a fresh high Friday as investors bet that a tax-overhaul plan before Congress will pass, likely boosting profits for many U.S. companies.
Thank goodness for tax reform. While Americans are divided about the impact of tax reform, as they are about most things these days, other countries aren’t so conflicted. Most notably, China worries about the effect of the U.S. slashing its corporate tax rate from a statutory 35% currently to 21%, which reportedly was agreed to by House-Senate conferees.
Stocks finished the week at all-time highs as the Republicans in Congress inched closer to passing their tax reform bill. The Nasdaq Composite climbed 1.4% this week after jumped 1.2% to 6936.58 today.
Shares gained worldwide on Friday and Wall Street notched closing record highs on U.S. tax legislation optimism, while the U.S. yield curve turned its flattest in a decade after the Federal Reserve hiked interest rates this week. MSCI's gauge of stocks across the globe gained 0.31 percent after a week of central bank meetings that saw the Fed raise U.S. rates yet leave its rate outlook for the coming years unchanged.
When historians look back on the 2017 stock market, it will be weeks like this that they remember. Three up days, two down, volatility nowhere in sight, and a wire-to-wire gain of less than 1 percent.
All three main U.S. stock-market benchmarks close at fresh records on Friday and book weekly gains, as investors grow optimistic about the progress of the Republican-led tax cut bill.
Republican Senator Bob Corker joined Senator Marco Rubio in signaling support in the late afternoon. Rubio had criticized the initial proposal, saying it did not give enough tax relief to working families, while Corker, had expressed concerned about the bill's impact on the federal deficit. The bill is expected to drop corporate tax rates to 21 percent from 35 percent and some investors are betting that companies will put most of the savings toward a boost in shareholder payouts.
Wall Street's three major indexes tallied record closing highs on Friday with broad gains across sectors as a long-awaited tax bill that would cut corporate tax rates looked like it would win enough support ...
All main stock benchmarks closed at records on Friday with the S&P 500 and the Dow Jones Industrial Average extending their weekly winning streak to four as Republicans prepared to outline their final ...
Intel Corp.'s stock surged 3.4% to pace the Dow Jones Industrial Average's gainers, and to bounce back above the widely-watched 50-day moving average line, amid a broad rally in the semiconductor sector. ...
By late afternoon CNBC was reporting that Republican Marco Rubio would support a compromise bill. Rubio had spoken out against the bill as he sought an expansion of child tax credits. "It's the Marco Rubio watch today and the market seems to be responding to the latest on whether he will or won't support the tax reform bill," said David Joy, chief market strategist at Ameriprise Financial in Boston.
A historic lack of volatility, dominance of the FAANGs, a rally in Mexico stocks, and, of course, the mother of all eye-poppers — Bitcoin’s surge. Here’s a look at how some of the notable calls from our ...
Yesterday's Rubio tantrum looks to have been replaced with optimism that a tax deal gets done, helping to send stocks soaring higher today. The S&P 500 has risen 0.9% to 2676.04 at 1:50 p.m. today, while the Dow Jones Industrial Average has advanced 149.53 points, or 0.6%, to 24,658.19. The Nasdaq Composite has gained 1.1% to 6928.86.
Gold prices end with a modest climb Friday to tally their first weekly gain in a month in the wake of the Federal Reserve’s recent decision to raise interest rates, as expected.
The S&P 500 (.SPX), the Dow Jones Industrial Average (.DJI) and the Nasdaq (.IXIC) are all set to cap the year with their biggest annual gains since 2013. Riding the rally, the U.S. IPO market also recovered in the second half of 2017, after being spooked by a slump in shares of Snapchat owner Snap Inc (SNAP.N) and meal-kit delivery company Blue Apron (APRN.N) following their debut earlier in the year. "With the market at all-time highs valuations are at the high-end, presenting a favorable backdrop for IPOs," said Nelson Griggs, president, Nasdaq Stock Exchange.
From December 7–14, 2017, the S&P 500 Index (SPY), the S&P Mid-Cap 400 Index (IVOO), and the Dow Jones Industrial Average Index (DIA) had negative correlations with US crude oil futures.
The S&P 500 fell the most in a month on Thursday after Republican Senators Marco Rubio and Mike Lee declined to back the bill without changes to child tax credits. The S&P 500 was up 0.65 percent, at 2,669.38 and the Nasdaq Composite was up 0.57 percent, at 6,895.36.
World shares gained on Friday and Wall Street opened higher on U.S. tax legislation optimism, while the dollar strengthened as trading activity wound down before the Christmas and New Year holidays. MSCI's gauge of stocks across the globe gained 0.16 percent after a week of central bank meetings that saw the U.S. Federal Reserve raise interest rates, while the European Central Bank and the Bank of England held off on hikes.