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U.S. stocks trade higher as tech stocks rise

Xinhua,December 08, 2017 Adjust font size:

NEW YORK, Dec. 7 (Xinhua) -- U.S. stocks traded higher around midday Thursday as technology stocks continued to bounce back.

At noon, the Dow Jones Industrial Average rose 96.76 points, or 0.40 percent, to 24,237.67. The S&P 500 edged up 10.28 point, or 0.39 percent, to 2,639.55. The Nasdaq Composite Index added 44.22 points, or 0.65 percent, to 6,820.59.

Technology stocks rose broadly on Thursday after being pressured last week. The sector is the best performer so far in 2017, with the Technology Select Sector SPDR Fund rising nearly 31 percent on a year-to-date basis.

Meanwhile, the rest of the market traded slightly lower as investors kept an eye on the progress of the U.S. tax reform.

The U.S. Senate on Saturday passed the Republican bill to overhaul the tax code in decades, moving one step closer to the first major legislative victory of the Trump administration and congressional Republicans.

Analysts said market sentiment had been boosted by the prospect of the tax bill, sending the Dow Jones Industrial Average to record highs earlier this week. Enditem