Stocks were modestly higher last week as Republicans in Congress wrapped up the tax reform package and sent it to President Trump, who signed the measure, officially the Tax Cuts and Jobs Act, into law on Friday.
The major U.S. stock market averages ended the week at all-time closing highs as Congress moved to put the finishing touches on the tax reform package to get it to President Trump before Christmas.
Stocks finished higher on Friday following another strong U.S. jobs report but the major equity indexes closed mixed for the week as some investors may be looking to lock in their profits for the year.
Despite losing a little ground on Friday to start December, the Dow Jones Industrial Average had its best week of the year last week, shooting past 24000 for the first time as the Senate passed its version of tax reform.
Investors pushed equity indexes to new records last week.
U.S. stocks were narrowly mixed last week as the House passed its version of tax reform and the market waits to see what the Senate does.
Greenwich, Connecticut, November 17, 2017 – Wright Investors’ Service, Inc. announced today that the Wright Large Cap Core Equity strategy has been awarded a Top Guns designation by Informa Investment Solutions’ PSN manager database, North America’s longest running database of investment managers. Wright Large Cap Core Equity received 2-Star rating for the period ended September 30, 2017.