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Wall St at record highs on rising hopes of…

16 Décembre 2017

USA stocks traded lower on Thursday as Wall Street awaited the final version of Congress' tax overhaul plan. Rubio had spoken out against the bill as he sought an expansion of child tax credits.

"Things are looking like this (tax bill) will get through". The S&P 500 was up 0.84 percent, at 2,674.4 and the Nasdaq Composite was up 0.99 percent, at 6,924.30.

The bill, which in its current form proposes to lower the rate to 21 percent from 35 percent, has been one of the catalysts for this year's surge in the stock markets.

At 9:33 a.m. ET (1433 GMT), the Dow Jones Industrial Average was up 129.05 points, or 0.53 percent, at 24,637.71 and the S&P 500 was up 13.49 points, or 0.51 percent, at 2,665.5.

Shares of consumer staple companies such as Walgreen Boots, Kraft Heinz, Mondelez, Procter & Gamble, Wal-Mart rose between 0.37 percent and 1.25 percent. Costco (COST.O) was its biggest percentage gainer with a 3.7 percent rise after the retailer reported upbeat results.

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While the technology sector also gained, one notable decliner was Oracle.

The S&P 500 and the Dow are on track to close higher for the fourth week in a row, while the Nasdaq was set to post its first weekly rise in three weeks.

"They're not completely out of the woods yet but it's getting closer and closer". The software maker slipped 4.34 percent after it gave a disappointing forecast for its cloud business.

CSX Corp fell about 8 percent after the No.3 USA railroad said its Chief Executive Hunter Harrison was taking medical leave, a decision that comes in the middle of a controversial turnaround plan.

Advancing issues outnumbered declining ones on the NYSE by a 2.86-to-1 ratio; on Nasdaq, a 2.87-to-1 ratio favored advancers. On the Nasdaq, 1,428 issues rose and 852 fell.

Wall St at record highs on rising hopes of…