NEW YORK: The Nasdaq closed above 6,000 for the first time Tuesday following a round of mostly strong corporate earnings and ahead of the White House’s long-awaited tax cut announcement Wednesday.
The tech-rich Nasdaq Composite Index advanced 0.7 percent to finish the day at 6,025.49, its second straight record close. The Dow Jones Industrial Average jumped 1.1 percent to end the day at 20,996.12, while the S&P 500 rose 0.6 percent to 2,388.61.
Sentiment already was upbeat heading into Tuesday’s session on increased confidence that market-friendly centrist candidate Emmanuel Macron will win the French presidential election runoff May 7. Analysts also have been heartened by talk in recent days from the White House touting news of a long-awaited tax cut plan, with President Donald Trump expected to release details on Wednesday. But earnings also were a factor in the rally, with three Dow members posting strong advances after reporting solid earnings. Industrial giant Caterpillar surged 7.9 percent, DuPont 3.6 percent and McDonald’s 5.6 percent.
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