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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

Reuters 

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 ...

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