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Capital hill testimony from fed chair Jerome Powell where hi alled a potential cut in Interest Rates later this month. Health care stocks also contributed to the rise. We willhy explainn a moment, but first the closing numbers for this thursday with the ge Industrial Ave gaining 227 points to 27,088. The nasdaq was down six, the s p addedix bob pisani has more on the recordsetting day. Reporter another day,ot r market milestone. Investors cheered comments from the Federal Reserve signaling that a rate cut is likely just ound the corner. The dow crossed about 27,000 for the first time today and the s p 500 movedust to the edge of 3,000,nt fraction of a poi below it. Close enough. What a difference five yearss. Ma the s p has moved 50 in less than five years from 2000 ....
Investors eyed events in washington like tax reform and comments from the fed chair nominee. The gains were broad. The closing numbers attention getting. The Dow Jones Industrial ave climbed 255 points to 23,836. The nasdaq added 33. The s p 500 gained 25. Investors were glued to three stories tonight out of our nations capital. We begin with ylan mui on the advancement of the senates tax reform proposal. Reporter the Senate Budget committee voted to move the republican tax plan to the floor today. And that means the gop is on track for a final vote by the end of the week. This was a critical step because there are still several republican senators who are on the fence over this bill. Senator ron johnson of wisconsin says he wants bigger tax cuts for passthrough businesses and senator bob corker of tennessee is worried about the impact on the deficit although he did tell ....
About it, from people at bars, taxi drivers, to warren buffett. Even katy perry. The front page of the wall street journal had something to do. Bitcoin has had a meteoric rise. Today it zoomed past 11,000, surging more than a thousand dollars in just 12 hours. It is up about 1,000 since the start of the year. As quickly as it went up today, it lost some gains. Retail investors are taking notice. Now theres a push under way to create an etf. But as bob pisani reports, it reporter bitcoin is up more than 50 this month, it passed today. 1,000 mark before falling whats exciting investors is the expanding derivative market for crypto currencies. Its adding muchneeded legitimacy to this whole space. Last month ledger x, an institutional trading and clearing platform, they began trading bitcoin options. That was a big advance. In and out chicago mercantile exchange, the cboe, and the nasdaq all are set to roll out Bitcoin Futures soon. ....
The Treasury Department today said the new tax bill will generate 1. 8 trillion in new revenue over ten years, thanks to increased economic growe tha from the nonpartisan joint committee on taxation. As the numbers get crunched, lawmakers are trying to get the final bill across that finish line by resolving differences between the. Those differences include the number of tax brackets, the limit on the mortgage interest deduction, and medical expense deductions, among other things. The negotiations come just weeks before the end of the year, a key time for tax planning, making it also a very confusing time for many americans, but there are some potentially moneysaving strategies you can employ. Sharon epperson joins us now with that tonight. Its always good to see you, sharon. Good to be here. Lets start, first of all, with yearend tax planning. Its always important, but more so this year, righ manager so t. The taxsaving stra ....