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Dow hits record as investors bet on tax cuts


By Noel Randewich(Reuters) - The Dow Jones Industrial Average reached a record high on Monday, with banks and retailers surging and technology companies falling as investors realigned their portfolios in hopes of benefiting from expected corporate tax cuts.The S&P 500 ended with a loss after hitting an intra-day all-time high earlier in the day, while the technology-heavy Nasdaq dropped 1.05 percent. Bank of America , JPMorgan Chase , Wells Fargo & Co and Citigroup jumped over 2 percent after the Republican-dominated U.S. Senate approved its tax bill on Saturday. Once the Senate and House ...

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First Published: Tue, December 05 2017. 03:04 IST