US tax cut plan takes Wall Street to new high

In a tweet, US President Donald Trump said the plan will be of great benefits to investors.

The US equity market set a new record high early Monday after the Senate approved a massive and long awaited tax cut plan.
 
The bluechip Dow Jones Industrial Average touched 24,534.04 points, while S&P 500 index rose to a new record high of 2,665.19 points.
 
The S&P 500 index, however, closed to a 0.1 per cent loss on the day. 
 
The Dow Jones Industrial Average managed to hold on to a 0.2 per cent gain.
 
In a tweet, US President Donald Trump said the plan will be of great benefits to investors. 
 
“The stock market, I think, is going to have a very big day, based on the massive tax cuts that we’re very much in the process of getting approved,” he tweeted.
 
The House and Senate are expected to iron out the differences between their respective tax bills this week, which will facilitate Trump to sign legislation before Christmas.
 
Source: Media reports

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