US stocks reach new records on tax reform hopes

iStock/Thinkstock(NEW YORK) — Stock indexes reached new records on Friday as investors saw Republican lawmakers’ progress on tax reform.

The Dow Jones Industrial Average soared 165.59 (+0.71 percent) to finish at 23,328.63.

The Nasdaq jumped 23.99 (+0.36 percent) to close at 6,629.05, while the S&P 500 finished at 2,575.21, up 13.11 (+0.51 percent) from its open.

Crude oil was about 0.72 percent higher with prices under $52 per barrel.

Winners and Losers:  A huge jump in footwear sales last quarter caused Skechers shares to skyrocket 41.45 percent.

PayPal beat investors’ expectations in earnings and revenue in the third-quarter and shares climbed 5.53 percent.

Despite earnings in Procter & Gamble’s fiscal first-quarter report that were higher than estimates, sales disappointed and its stock tumbled 3.68 percent.

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