Stocks Climb, Dollar Slumps on Trump Tax-Cut Plan: Markets Wrap
- S&P 500 reaches record high, small caps continue rallying
- Taxes are driving markets ‘but we don’t have a lot of details’
El-Erian Says Trump Tax Plan Part of Design Process
This article is for subscribers only.
U.S. stocks rose to record levels and headed for an eighth straight quarterly gain, while the dollar slipped as investors assessed the implications of Donald Trump’s tax proposal. Oil slid back after bouncing into bull market territory earlier in the session.
The S&P 500 Index inched up to all-time high and has increased about 3.5 percent over the last three months. The small cap Russell 2000 Index added to its advance after jumping nearly 2 percent on Wednesday following the tax-cut plan announcement. The gauge is up more than 5 percent for the quarter.