The Senate passed their version of the tax bill over the weekend, and while that gave a small lift to some stocks, other areas of the market declined. The House and Senate still need to reconcile competing versions of the tax plan, a feat they hope to accomplish by Christmas.
After being much higher earlier in the day, the Industrials still managed to close in record territory, up 58 points to 24,290. But weakness in the Nasdaq (down 1.05%), and technology in general, weighed on the broader indexes, causing the S&P 500 to lose 0.11%. The big winner was the Transports, which mustered up an impressive 1.79% gain.
Overseas markets had a bullish undertone, as all major averages in Europe closed in the green. Most markets there were up over 1%, causing the Stoxx 600 to climb 0.91% and the Europe Dow to rise 0.74%. The story was more mixed in Asia, as major averages were ... Log in or subscribe to continue reading.