U.S. stocks open higher amid tax bill vote

NEW YORK, Dec. 20 (Xinhua) -- U.S. stocks opened higher on Wednesday, as investors were optimistic about the passing of tax bill in Congress.

Chris Low, chief economist at FTN Financial, said Wednesday that both House and Senate passed the bill yesterday, and the president is expected to sign it before the end of the week.

"The bill is not popular, but Republicans are confident it will win people over as the economy benefits. As for that, it remains to be seen," he said.

The U.S. House of Representatives will have to vote again on the Republican tax bill on Wednesday as some provisions in the bill didn't comply with Senate budget rules.

U.S. equities have posted solid gains and notched record highs several times since the Election Day, or Nov. 7, partially boosted by expectations of lower corporate taxes.

Shortly after the opening bell, the Dow Jones Industrial Average increased 71.27 points, or 0.29 percent, to 24,826.02. The S&P 500 rose 7.88 points, or 0.29 percent, to 2,689.35. The Nasdaq Composite Index was up 24.25 points, or 0.35 percent, to 6,988.10.

U.S. stocks ended lower on Tuesday, as a decline in Apple shares dragged the tech sector lower. Enditem