Last Minute Shopping! Dow Jumps 170 Points as Tax Cuts Nearly Done Deal

The major market indexes are soaring to new highs as the increasing likelihood of tax reform boosts shares.

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The S&P 500 has risen 0.6% to 2692.20 at 10:52 a.m. today, while the Dow Jones Industrial Average gained 169.56 points, or 0.7%, to 24,821.30, and the Nasdaq Composite has climbed 0.8% to 6991.61. And even the beleaguered Russell 2000 has joined the party: It's jumped 1.2% to 1548.84.

Instinet's Frank Cappelleri points out that it's not just tax cuts helping boost shares today, and that there's still time for "last minute shopping." He explains:

Evercore ISI's Dennis Debusschere and team argue that that the shopping could go on for quite a while:

Happy holidays!

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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