BUSINESS GOVERNMENT NEWS

Stocks Surge With Passage of Senate Tax Bill

(by Jackie Callow)

US stocks surged to new highs Monday morning as trading opened for the first time after the Senate passed its tax bill over the weekend.

The Dow Jones industrial average rose 275 points by 10:15 a.m., at 24,507.17 .

The S&P 500 gained 17 points, to 2,659.22.

Both indexes hit all-time highs earlier.

Comparatively, the Nasdaq was down 16.65, to  6,831.04

 

JPMorgan issued a report forecasting an 8 percent rise in earnings for US companies if the tax overhaul results in getting lowering tax rates to from 35 percent to 20 percent