More Republicans said on Sunday they expected Congress to pass the tax bill this week, with a Senate vote set for Tuesday and President Donald Trump expected to sign the bill into law by the end of the week. As a result, US stocks have enjoyed a near year-long rally, with the benchmark S&P 500 and the blue-chip Dow Jones Industrial Average set for their best year since 2013.
Wall Street closed at record highs amid sustained optimism about the likelihood of lower corporate tax rates as the Republican tax bill moved closer to passage.
The Dow Jones Industrial Average rose 140.46 points, or 0.57 percent, to 24,792.2, the S&P 500 gained 14.35 points, or 0.54 percent, to 2,690.16 and the Nasdaq Composite added 58.18 points, or 0.84 percent, to 6,994.76.
The three indexes set record closing highs, as did the small-cap Russell 2000 index up 1.21 percent to end at 1,548.93.
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