Increased Confidence In Tax Reform Bill Sends Stocks Higher

Bill

(New York, NY) — Investors seem to like what they’re seeing on Capitol Hill. Key Republican lawmakers indicated their support for the GOP tax reform bill. That’s setting things up for likely passage next week. The Dow Jones Industrial Average rose 143 points today to close at 24-652. The S&P 500 climbed 24 points to 26-76. The Nasdaq had the biggest percentage jump among the major indexes with a jump of 80 points. It closed at 69-37.

Investors seem to think Under Armour is ready for growth. Stifle Nicolaus upgraded the company from a “hold” to a “buy,” which sent the stock soaring about ten percent. Costco beat the street with its earnings expectations, sending the stock up more than three percent. CSX stock fell more than seven percent after news that the firm’s CEO is taking a leave of absence.