Dow rips 331 points higher, closes above 24,000 as chances of Senate tax bill passing rise

by
December 1, 2017

104239737-RTSXB3Y.530x298Stocks rallied on Thursday as the possibility of the Senate passing a bill aimed at overhauling the U.S. tax code increased.

The Dow Jones industrial average surged 331.67 points to close above 24,000 for the first time, with United Technologies leading advancers on the 30-stock index.

The S&P 500 advanced 0.8 percent to close at 2,647.58 — an all-time high — with industrials and information technology among the best-performing sectors. L Brands and Kroger were the best-performing stocks in the index.

The Nasdaq composite rose 0.7 percent to close at 6,873.97, rebounding from a 2 percent decline in the previous session. Tech giants like Facebook, Amazon, and Apple all traded higher.

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