US stocks jump as House passes tax cut, Nasdaq hits record

NEW YORK: Wall Street cheered the House of Representative's passage of the Republican tax cut plan Thursday, pushing US stocks higher and lifting the Nasdaq to a fresh record.

The tech-rich Nasdaq Composite Index jumped 1.3 percent to end the session at 6,792.45, eclipsing its November 8 record by about three points.

At the closing bell, the Dow Jones Industrial Average was at 23,457.32, up 0.8 percent, while the broad-based S&P 500 gained 0.8 percent to 2,585.67.