You are here: Home » International » News » Markets
Business Standard

Wall Street hits record highs on tax bill hopes, M&A deals worth $11 bn

The benchmark S&P 500 has gained about 20% so far in 2017, set for its best year since 2013


The major US stock indexes hit record highs in a broad rally on Monday as the long-awaited bill to lower taxes looked set to be passed into law and buoyed by about $11 billion in corporate dealmaking. More US Republicans Senators on Sunday said they expected Congress to pass the tax bill this week, with a Senate vote set for Tuesday and President Donald Trump expected to sign the bill into law by the end of the week. US stocks have enjoyed a near year-long rally, of late powered by increasing expectations of the promised tax overhaul, which aims to lower corporate taxes to 21 per ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Mon, December 18 2017. 22:15 IST