Global markets were off to the races again today, as just about every major average around the world moved higher. The catalyst appeared to be heightened prospects of the republican tax plan passing, which will give a boost to corporate profits as well as provide some stimulus to the economy.
In the U.S., the Industrials rose 140 points to 24,792, while the Transports confirmed in direction, up 1.24%. The S&P 500 posted a solid 0.54% gain, and the Nasdaq did even better – rising 0.84%. The Nasdaq was about to close above 7,000 for the first time ever, but a small selloff near the close left the index just 6 points shy of that mark.
Overseas markets showed similar strength with nearly all averages in the green. In Europe, huge gains across France, Germany, Italy and Spain left the Stoxx 600 1.15% higher and the Europe Dow up 1.4%. In Asia, the story was similar as ... Log in or subscribe to continue reading.