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Tax-cut euphoria elevates Wall Street to record high


By Noel Randewich(Reuters) - Wall Street indexes cruised to record highs on Monday, with optimism about a Republican plan to slash corporate taxes fuelling gains in banks, while Microsoft and other technology stocks dropped.Bank of America , JPMorgan Chase , Wells Fargo & Co and Citigroup jumped over 2 percent after the U.S. Senate approved its tax bill on Saturday. Once the Senate and House of Representatives reconcile their respective versions of the legislation, the resulting bill could cut corporate tax rates to 20 percent from 35 percent."It will likely result in increased dividends ...

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First Published: Tue, December 05 2017. 01:08 IST