iStock/Thinkstock(NEW YORK) — The major indexes closed higher Tuesday, and the tech-heavy Nasdaq reached a new milestone, ahead of President Trump’s announcement on tax reform.
The Dow Jones Industrial Average climbed 232.23 (+1.12 percent) to finish at 20,996.12.
The Nasdaq jumped 41.67 (+0.70 percent) to close at 6,025.49, hitting above 6,000 for the first time. The S&P 500 finished at 2,388.61, up 14.46 (+0.61 percent) from its open.
Crude oil prices were about 1 percent higher at under $50 a barrel.
Tax Reform: On Wednesday, investors will pay close attention when President Trump announces a tax reform proposal ahead of his 100th day in office. Under the new tax plan, the president has said individuals and businesses will receive large tax cuts.
Winners and Losers: Shares of Netflix, Inc. soared 6 percent after the streaming service landed a Chinese licensing deal.
Health insurance company Anthem Inc. will likely not renew its contract with Express Scripts, sending the pharmacy benefit management organization’s stock to tumble 11 percent.
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