Stocks Ended at Record Highs on Tax Plan Optimism

U.S. stocks ended to record highs again on Thursday, with optimism over a tax overhaul increasing as Congress moved closer to agreement on a budget resolution and as data added to recent signs of economic strength. The Dow Jones Industrial Average rose 113.75 points, or 0.50%, to 22,775.39. The S&P 500 gained 14.33 points, or 0.56%, to 2,552.07. The Nasdaq Composite added 50.73 points, or 0.78%, to 6,585.36.

Oil prices finished higher Thursday, buoyed by talk of an extension for a deal to cut output. November West Texas Intermediate crude rose 81 cents, or 1.6%, to settle at $50.79 a barrel. December Brent crude rose $1.20, or 2.2%, to end at $57 a barrel.

The House on Thursday passed a $4.1 trillion budget plan that promises deep cuts to social programs while paving the way for a GOP drive to rewrite the tax code later this year.

Netflix is raising the price for its most popular U.S. video streaming plan by 10 percent — a move aimed at bringing in more money to outbid HBO, Amazon and other rivals for addictive shows such as “Stranger Things.”