Just say tax reform and stocks move higher
The US stocks benefited from chatter about tax reform. That, and a technical turnaround after the S&P and Nasdaq tested their 100 day MAs yesterday and held. The major indices are closing with solid/strong gains.
- The S&P is ending the day up 0.99% or 24.14 points to 2452.51. It closed back above its 50 day MA at 2450
- The Nasdaq did even better ending the day up 84.34 points or 1.36% to 6297.47. Its 50 day MA was taken back way back at 6272.
- The Dow is ending the day up 196.14 points or 0.90%.
It is hard to keep a bull market down. Today, the bulls raced back in and showed who is the boss.
