Economic news

S&P, Dow inch higher, tax bill vote in focus

The benchmark S&P 500 and the blue-chip Dow Jones Industrial Average ticked up in early trade on Tuesday amid growing hopes that a tax bill in the U.S. Congress would be passed this week.

The Dow Jones surged 0.2 percent, to 24,841.81, while the S&P advanced 0.14 percent, to 2,694.08. The Nasdaq Composite slipped 0.03 percent, to 6,992.52, dragged down by Apple.

The Republican-controlled U.S. House of Representatives is expected to vote on the final version of tax bill early Tuesday afternoon. If the Senate approves bill, President Donald Trump would sign it into law before Christmas.

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