© Reuters. WALL STREET ENDS HIGHER
by Sinead Carew
NEW YORK (Reuters) – Wall Street ended up Friday, with records in the key for the three major indices, again boosted by hopes of seeing the project of tax reform.
Negotiators for the republicans in the Congress of the United States has put the final touches to the tax reform desired by Donald Trump and will publish details on Friday.
A provision in favour of households with children has been modified, allowing you to take the support of two republican senators skeptical, Marco Rubio and Bob Corker.
The reform, which proposes to lower the corporate income tax rate of 35% to 21%, is expected to be voted on in the House and the Senate next week. The us president wishes that the text can be enacted before Christmas.
“Investors believe that the tax reform will be. I don’t think the Republicans are going to let the project aside, they have traveled the path,” said Brent Schutte, head of investment strategy at Northwestern Mutual Wealth Management.
“The tax reform that moves the market in the short term, but the fundamentals that underlie the market, even without tax reform” give confidence to investors,” he adds.
The Dow Jones has gained 143,08 points, or 0.58%, to 24.651,74. The Standard & Poor’s 500, wider, rose by 0.90% to 2.675,81 and the Nasdaq Composite has taken 1,17% 6.936,58.
On the week, the Dow gained to 1.32% and the S&P-500 0,91%, the two indices linking their fourth weekly increase in a row. The Nasdaq gained him was 1.41% and sign its first weekly advance after two setbacks in a row.
Ten of the eleven sub-funds of the S&P-500 ended in the green, the energy sector, ending him almost at equilibrium (-0,03%).
THE FINANCIAL RETURN TO THE FIELD
In mind, the technology sector was up 1.24 percent. Largest increase in the Dow, Intel (NASDAQ:INTC) jumped 3.00%, ahead of Microsoft (NASDAQ:MSFT), which has taken on 2,55%.
Just behind the compartment of health has granted 1,17%, Pfizer (NYSE:PFE), Medtronic, Thermo Fisher (NYSE:TMO), Express Scripts and Abbvie posting gains of more than 2%.
Financial stocks, which had suffered Thursday, posted a gain of 1.04%. JPMorgan (NYSE:JPM) Chase has taken on 1,41%, Goldman Sachs (NYSE:GS) 0,66%.
Values, Oracle (NYSE:ORCL) has abandoned 3,76%. If the software publisher has released profit and revenue quarterly sales above expectations, the growth of its activity in cloud computing (cloud) has disappointed analysts.
CSX, THE BIGGEST DECLINE IN THE S&P-500
The distributor Costco Wholesale rose 3.32% after quarterly results exceeded expectations. The group has largely contributed to the increase of 1.12% in the sector of consumer goods-essential
The railroad company CSX Corp (NASDAQ:CSX) dropped 7.64%, biggest decline in the S&P-500. The company informed that its president and ceo, Hunter Harrison, appointed in march last, took a medical leave for reasons that have not been clearly explained so that the recovery plan put in place to reduce costs and increase profitability is very criticized.
About 10.7 billion shares have changed hands on the various platforms american, compared to an average of 6,73 billion over the past 20 sessions, is the highest volume for a year.
(With Rama Venkat Raman and Sruthi Shankar; Catherine Mallebay-Vacqueur for the French service)