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Tech, bank stocks boost Wall Street to record highs amid tax cut hopes

Hopes of tax cuts have helped the market rally, as companies expect the move to lift economic growth and inflation

Reuters 

US stocks inched higher on Friday as bank stocks rose and tech stocks recovered, with investor optimism back as Trump administration cleared a hurdle to lower taxes. Bank of America's 2 per cent gain was the biggest boost to the S&P.  Apple led the gains in the technology index as it rose 0.60 percent after falling 2.5 percent on Thursday. The Republican-controlled Senate approved a budget blueprint for the 2018 fiscal year in a pursuit to legislate the tax-cut package without Democratic support. Hopes of tax cuts have helped the market rally, as companies expect the ...

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First Published: Fri, October 20 2017. 20:49 IST
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