S&P 500, Nasdaq Post Best Week in More Than a Year
- 6 years ago
S&P 500, Nasdaq Post Best Week in More Than a Year
A U. S. tax overhaul last month that includes hefty corporate tax cuts helped to fuel late-year gains
and was the first major legislative victory in President Donald Trump’s pro-growth agenda since he took office a year ago.
U. S. stocks this week have been adding to momentum from 2017, driven by a series of strong economic reports from across the globe
and expectations for strong fourth-quarter earnings, with all three major indexes hitting milestones in the last few days.
Markets are still working to figure out the implications of tax cuts,
and that’s provided some of the lift along with already good economic forecasts," said Mike Baele, managing director at U. S. Bank Private Client Wealth Management in Portland, Oregon.
The Dow Jones Industrial Average rose 220.74 points, or 0.88 percent, to 25,295.87, the S&P 500 gained 19.16 points, or 0.70 percent, to 2,743.15
and the Nasdaq Composite added 58.64 points, or 0.83 percent, to 7,136.56.
A U. S. tax overhaul last month that includes hefty corporate tax cuts helped to fuel late-year gains
and was the first major legislative victory in President Donald Trump’s pro-growth agenda since he took office a year ago.
U. S. stocks this week have been adding to momentum from 2017, driven by a series of strong economic reports from across the globe
and expectations for strong fourth-quarter earnings, with all three major indexes hitting milestones in the last few days.
Markets are still working to figure out the implications of tax cuts,
and that’s provided some of the lift along with already good economic forecasts," said Mike Baele, managing director at U. S. Bank Private Client Wealth Management in Portland, Oregon.
The Dow Jones Industrial Average rose 220.74 points, or 0.88 percent, to 25,295.87, the S&P 500 gained 19.16 points, or 0.70 percent, to 2,743.15
and the Nasdaq Composite added 58.64 points, or 0.83 percent, to 7,136.56.