Markets in the U.S. had a good start on 2018’s first trading session as stocks settled in the positive territory on Tuesday.
According to several analysts, stocks in the United States are lifted up due to strong outlook on economic growth, projections of lower tax cuts, and a positive earnings report from corporate companies. President Donald Trump approved a reform that will reduce the corporate tax rate from 35 percent to 21 percent on the previous month. In reaction to the news, a lot of companies said they will provide incentives to their staffs.
Looking at indices, the NASDAQ composite rose more than 1.5 percent to finish at 7,006.90, notching its record highs as it touched the 7,000 handle for the very first time. The Dow Jones industrial average added as much as 104.79 points and settles at 24,824.01. This is after the shares of Disney surged more than 4 percent.
Meanwhile, the S&P 500 touched an intraday and closing records as it was 0.8 percent higher to end at 2,695.79. Its energy materials, information and technology, and consumer discretionary stocks are the leading advances die to their 1 percent jump.
Wall Street had a banner year last 2017 because all three major indexes reached their all-time highs. Dow added more than 25.1 percent, NASDAQ rose by 28.2 percent and S&P 500 jumped as high as 19.4 percent for the entire year.