Economic optimism boosts markets

Optimism that President Donald Trump will overhaul the federal tax code boosted the markets to a sharply higher open with the Dow soaring 104 points to 20,373. Nasdaq climbed 28 points to 5,762.


On the upside


Zosano Pharma (Nasdaq: ZSAN) reported positive results from a ZOTRIP efficacy trial of M207.


Allergan (NYSE: AGN) will pay a premium of approximately $2.475 billion to acquire Zeltiq Aesthetics (Nasdaq: ZLTQ).


The Chemours Company (NYSE: CC) settled toxic chemical contamination claims in West Virginia.


On the downside


The Securities and Exchange Commission is investigating Hain Celestial (Nasdaq: HAIN) for its accounting practices.


Ubiquiti Networks (Nasdaq: UBNT) extended its losses.


Investors locked in profits on Nvidia (Nasdaq: NVDA).


In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by more than 2 to 1 on Nasdaq. The broader S&P 500 index gained 9 points to 2,325. Bitcoin slipped $2 to $989.


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