CHICAGO (CBS) — Stocks surged higher Thursday, with the Dow and S&P 500 both hitting all-time highs, as the possibility of the Senate passing a bill aimed at overhauling the tax code appeared more likely. The S&P 500 gained 21, the NASDAQ added 50 and the Dow Jones industrial average closed up over 331 points, settling to 24,272.
“The bottom line, I think Wall Street is feeling more comfortable with the prospects of tax reform, that certainly helped the market. I also think yesterday’s reconfirmation of the bull market trend helped,” said Chuck Carlson, CEO of Horizon Investment Services.
He also noted that he currently finds shares of JPMorgan Chase, Citizens Financial Group and Zions Bancorp attractive at current levels.