Wall Street surged on Friday, with all three benchmarks poised to hit new record highs amid investors’ optimism a tax reform package will get enough votes from lawmakers to pass and be presented before the end of the year to President Donald Trump.
Senator Marco Rubio said he will now support the bill after changes were made to the child tax credit, reversing his position from a day earlier. Late in the afternoon, Senator Bob Corker also said he would support the plan, which is due to be released later in the day. Stocks moved steadily higher, with financials and tech shares leading all 11 sectors on the S&P 500 while nearly all of the Dow Jones Industrial Average’s 30 blue chips climbed.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.