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.