The Dow Jones industrial average hit another milestone Thursday, closing above 24,000 for the first time, CNBC reported.
It closed at 331.67-points, with United Technologies leading the way. The S&P 500 also reached an all-time high, advancing 0.8 percent.
The milestones come as the Senate closes in on a vote on a bill that would overhaul the tax code with Sen. John McCain, R-Ariz., becoming a key supporter of the bill. President Donald Trump has promised tax reform, and the stock market has been buoyed by expectations of lower corporate taxes since his election.
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But Jack Ablin, chief investment officer at BMO Private Bank, cautioned that lowering corporate taxes "would not be as big a boon to large companies as it would be to small companies."