Stocks drift awaiting Trump tax plan details

New York (AFP) – Wall Street and the major European indices drifted higher on Monday in advance of a major address by President Donald Trump, as investors in New York sent the Dow to a fresh record.

The blue-chip Dow Jones Industrial Average crept up to close at a 12th consecutive all-time high after a session in which Wall Street’s three major indices wavered around.

In New York, the Nasdaq and the Dow both finished a touch higher, as did London and Frankfurt, while the broad S&P 500 and the CAC 40 in Paris were flat.

Investors have rejoiced in Trump’s promises of new tax cuts, even thought details have yet to materialize. However, Trump hinted he would make a “big” announcement on infrastructure policy during an address to a joint session of Congress Tuesday night.

Shares in Caterpillar, which manufactures construction equipment, rose two percent on the news, helping the Dow to its positive finish.

Peter Cardillo of First Standard…

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