The release of details around the Republicans much anticipated tax reform package was the focal point for US markets overnight and lifted all of equities, bond yields and the US dollar - Dow up +56-points or +0.25% and snapping a four-session losing streak. Nike Inc (down -1.92%) was the biggest drag on the index after posting disappointing first quarter numbers and a downbeat outlook for the second quarter. The broader S&P500 rose +0.41%, setting a fresh intra-day record high (2,511.75) but failing to secure a fresh record closing high. The Financial sector (up +1.6%) led gains. The NASDAQ jumped +1.15% and posted its best single-session rise since 22 August. The small-capitalisation Russell 2000 index set fresh record intra-day (1,487.95) and closing highs (up +1.92% to 1,484.812).
