US stocks end at records as Senate panel advances tax cut

Wall Street stocks surged to fresh records today after a key Senate committee advanced the Republican tax cut plan, moving the long-awaited measure closer to the finish line.

All three major US indices set new records by the closing bell, with the Dow Jones Industrial Average up 1.1 per cent to 23,839.26.

The broad-based S&P 500 gained 1.0 per cent to end the day at 2,627.20, while the tech-rich Nasdaq Composite Index advanced 0.5 per cent to 6,911.07.