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Today's Commentary
Wednesday, December 13, 2017

The Dow Jones Industrial Average (DJIA) and S&P 500 Index (SPX) started the session hitting record highs, as traders cheered a strong third-quarter gross domestic product (GDP) reading, which helps strengthen the case for a December rate hike. The Dow eventually closed at an all-time peak, as Wall Street continued to bet on bank stocks ahead of this week's GOP tax reform vote, and UnitedHealth (UNH) stock rallied following the healthcare name's well-received investor day. Nevertheless, a sharp selloff in tech stocks pulled the SPX into negative territory -- and had the Nasdaq Composite (IXIC) logging its biggest one-day percentage loss since August.   

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