Banks, lenders and other financial companies rose as traders bet the sector would benefit from tax cuts. The Federal Reserve recently upgraded its outlook for economic growth based on the cuts, and most strategists believe the passage of the Republican bill, which now looks increasingly likely, will make the Fed more inclined to raise rates aggressively next year. The tax breaks could also lead to financial opportunities as corporations and consumers look to deploy windfalls.
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(END) Dow Jones Newswires
December 15, 2017 16:46 ET (21:46 GMT)