SME Times is powered by   
Search News
Just in:   • 10% customs duty on mobiles, hike on more items likely  • Google's response to record EU fine draws flak from rivals  • Apple hikes iPhone prices in India post-customs duty hike  • Political realities to weigh on economic decisions: Assocham  • BJP poised to take power in Himachal 
Last updated: 06 Dec, 2017  

NYSE.9.Thmb.jpg US stocks trade higher on tax reform expectation

NYSE.9..jpg
   Top Stories
» After early hiccups, BJP set to retain power in Gujarat
» 'Exports back in positive territory with a bang as global demand sprang a surprise'
» India not being blamed for collapse of WTO talks: Prabhu
» Engineering goods push exports higher to $26 bn in November
» Vote count in Gujarat, Himachal begins
SME Times News Bureau | 06 Dec, 2017

US stocks traded higher on Tuesday as investors continued to monitor the progress of the country's tax reform.

At midday, the Dow Jones Industrial Average added 8.46 points, or 0.04 per cent, to 24,298.51, Xinhua news agency reported.

The S&P 500 increased 7.76 points, or 0.29 per cent, to 2,647.20. The Nasdaq Composite Index was up 50.65 points, or 0.75 per cent, to 6,826.01.

The US Senate on Saturday narrowly passed the Republican bill to overhaul the tax code in decades, moving one step closer to the first major legislative victory of the Trump administration and congressional Republicans.

The House of Representatives had passed its own version of tax reform legislation last month, which contained significant differences from the Senate version.

Republicans currently plan to convene a conference in the next few weeks to reconcile the House and Senate versions.

Overhauling the tax code is a top priority of Republicans and they are hoping to send the final legislation to President Donald Trump before Christmas.

Analysts said market sentiment was boosted by the prospect of the tax bill, sending the Dow Jones Industrial Average to record highs on Monday.

In corporate news, shares of Bank of America rose 0.7 per cent around midday after the bank announced it would buy back an additional 5$ billion in stock. The repurchase will take place through June 2018.

 
Print the Page Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 18 Dec, 2017
  Daily Poll
Is counterfeiting a major threat to SMEs?
 Yes
 No
 Can't say
  Commented Stories
» Starting an import export business: Basic guide for beginners(14)
» Foreign Trade Policy(6)
» List of items for which anti dumping duties has been levied with related notifications(1)
» Online GST compliance platform a simple and cheap solution for filing return: Co-Founder, EasemyGST(1)
» SC order on interim relief on mandatory linking of Aadhaar on Friday(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter