Tax reform was in focus on Wall Street as investors anticipated potentially lower corporate taxes ahead. A top Republican indicated on Thursday that the GOP’s final tax bill could see certain deductions being adjusted. A joint tax bill now has to be ironed out after the House and Senate earlier passed separate versions.
U.S. stocks ended higher on Thursday as tech shares notched gains. The Dow Jones industrial average rose 70.57 points, or 0.29 percent, to close at 24,211.48, the S&P 500 advanced 0.29 percent to end at 2,636.98 and the Nasdaq composite added 0.54 percent to finish at 6,812.84.
The dollar index, which tracks the U.S. currency against a basket of six major currencies, was firmer at 93.769. Against the yen, the dollar traded at 113.07, its highest level in more than three weeks.
Meanwhile, bitcoin soared above $19,000 on Thursday, but later tumbled some 20 percent from that level. The cryptocurrency, which started the year under $1,000, has experienced massive moves in recent days.