Dow Jones hits 24,000 mark for first time

Dow Jones hits 24,000 mark for first time

The benchmark Dow Jones jumped above the 24,000 mark for the first time on Thursday as US shares rebounded ahead of an expected tax cut vote in the Senate this week.

In early trading the Dow index of blue-chip shares stood at 24,029.76, up 89 points, or 0.37%.

Top gainer was Goldman Sachs up 2%, and main faller was Coca-Cola, down 0.82%.

The broader-based S&P 500 was up 0.5% to 2,638.08, and the tech-based Nasdaq gained 0.3% to 6,843.02.

US shares have reached new highs in recent weeks as tax cuts supported by President Donald Trump have come closer to reality.

The Senate, which has been seen as the more reluctant branch of Congress, voted on Wednesday to formally launch a debate on the bill.

That was a major development for keeping the measure alive and to potentially reach the president for approval by the end of the year.

Other winners on the Dow included United Technologies, Intel, Caterpillar, and Exxon Mobil.

Fallers included Travelers, Johnson & Johnson, General Electric, and McDonald’s.

Source: BBC News

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