Dow scores biggest gain since March to pass 24000 on tax-cut hopes

Investors are exuberant and for good reason: the global economy is strong, corporate earnings are solid, Washington appears closer to delivering lower taxes on corporations and is signaling less restrictive oversight of the financial sector.

Thanks to that enthusiasm, Wall Street finished November with a broad rally that gave the Dow Jones industrial average its biggest gain since March and pushed it past the 24,000 mark for the first time.

Other market indicators also reached milestones Thursday. The Standard & Poor’s 500 index, which is widely followed by professional investors, had its biggest monthly gain since February.

Technology stocks, the biggest driver of the market’s increase this year, were responsible for much of the gain, rebounding from a sharp pullback the day before. Financial stocks slowed a bit, but remain in the midst of a weeklong rally sparked by rising interest rates and encouraging words from regulators.

SOURCE: GoogleNews