Dow Climbs 500 Points After Senate Passes Tax Bill

Dow Climbs 500 Points After Senate Passes Tax Bill

The stock market’s rally broadened on Tuesday after the Senate passed President Donald Trump’s signature tax bill.

The Dow rose 500 points, or 1.1%. The S&P 500 was down less than 0.1%. The Nasdaq Composite, dragged down by struggles by Tesla and other high-flying AI stocks after a blockbuster second quarter, was down 0.8%.

Nearly 400 stocks in the S&P 500 were actually rising, but GE Vernova, Vistra, Constellation Energy, and Palantir Technologies were all down about 5% or more. Dividend stocks, value stocks, and small-caps were all rallying, while momentum, growth, and riskier stocks lagged behind.