Nasdaq hits 7000 for first time as Wall Street awaits tax bill vote
Wall Street continued its record run Monday, pushing the Nasdaq to 7,000 for the first time, as investors built on hope that Republicans will pass tax cuts this week.
The Dow Jones Industrial Average climbed about 141 points to 24,793. The S&P 500 rose 14 points to 2,690. The Nasdaq Composite closed with a gain of 58 points at 6,994 after trading to an intraday record of 7,003.
The Dow notched its 70th record close of the year, its best performance in history.
Congress is expected to begin voting on the tax bill Tuesday. President Donald Trump has said he wants the bill to land on his desk by Christmas. Last week, Republicans won the support of two senators who were previously on the fence: Sens. Bob Corker (R-Tennessee) and Marco Rubio (R-Florida). Among other measures, the bill would cut the corporate tax rate to 21% from 35%.
In corporate news, Berkshire Hathaway (NYSE:BRKA) surpassed $300,000 per share for the first time.
This is a developing story. Check back for more.
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