The Globe and Mail reports in its Wednesday edition that the Nasdaq Composite closed
above 6,000 for the first
time in its history Tuesday.
A Reuters dispatch to The Globe reports that profits of S&P 500
companies are estimated to
have risen 11.4 per cent in the
first quarter, the most since
2011.
The Nasdaq hit a record
level of 6,036.02, breaching
6,000 for the first time.
The index first touched the
5,000 mark in March, 2000, as
tech stocks bubbled before tumbling
nearly 80 per cent through
October, 2002.
The S&P 500 touched its day's
high after the Wall Street Journal
reported President Donald
Trump's tax proposal,
expected on Wednesday, would
include a slash to a tax on
many owner-operated companies
to 15 per cent from 39.6 per
cent.
Fort Pitt Capital analyst Kim Forrest says cutting taxes on partnerships
and owner-operated
businesses would be a strong
boost to investing.
Tuesday's gains built on a
day-earlier rally, which was
driven by the victory of centrist
candidate Emmanuel Macron in
the first round of the French
presidential election.
About 7.31 billion shares
changed hands in U.S. exchanges,
above the 6.4 billion daily
average over the past 20 sessions.
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