X

Stock Indexes Gain as Tax Plan Advances

Small-company stocks were big winners Friday
By Newser Editors and Wire Services
Posted Dec 15, 2017 3:21 PM CST

(Newser) – Stocks closed higher Friday on Wall Street as Congressional Republicans put the final touches on a tax overhaul plan, the AP reports. The gains more than wiped out the market's losses from the day before and drove indexes to their latest all-time highs. Small-company stocks, which stand to benefit most from lower corporate tax rates, rose more than the rest of the market. Costco Wholesale jumped 3.4% after reporting a strong quarter. Hess rose 2.3% after Reuters said an activist investor plans to push for changes at the energy company.

The Standard & Poor's 500 rose 23 points, or 0.9%, to 2,675. The Dow Jones industrials rose 143 points, or 0.6%, to 24,651. The Nasdaq rose 80 points, or 1.2%, to 6,936.

(Read more stock market stories.)

We use cookies. By Clicking "OK" or any content on this site, you agree to allow cookies to be placed. Read more in our privacy policy.