New York Dec 22 (IANS) US stocks traded higher in the morning session on Thursday after the recent approval of the tax bill.
At midday the Dow Jones Industrial Average increased 100.48 points or 0.41 per cent to 24 827.13. The S&P 500 rose 9.66 points or 0.36 per cent to 2 688.91.
The Nasdaq Composite Index was up 20.22 points or 0.29 per cent to 6 981.18 Xinhua reported.
The US Congress on Wednesday finally passed the Republican bill to overhaul the US tax code over three decades sending it to President Donald Trump s desk for signature amid concerns that the change would widen income inequality and swell public debt.
"By cutting taxes and reforming the broken system we are now pouring rocket fuel into the engine of our economy " Trump said on Wednesday.
Some companies said they would spend the savings from lower corporate taxes on higher wages and new construction.
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