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S&P, Nasdaq end lower as Wall Street sells the tax news

NEW YORK (Reuters) – Wall Street ended mixed on Monday, with banks and retailers surging and technology companies tanking as investors adjusted their portfolios in hopes of benefiting from expected corporate tax cuts.

Traders work on the floor of the New York Stock Exchange, (NYSE) in New York, U.S., December 1, 2017. REUTERS/Brendan McDermid

The Dow Jones Industrial Average .DJI rose 58.46 points, or 0.24 percent, to 24,290.05, the S&P 500 .SPX lost 2.78 points, or 0.11 percent, to 2,639.44 and the Nasdaq Composite .IXIC dropped 72.22 points, or 1.05 percent, to 6,775.37.

The S&P closed at its session low after earlier hitting a record intraday high.

Reporting by Noel Randewich; Editing by Nick Zieminski

Our Standards:The Thomson Reuters Trust Principles.

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