Wall Street posts big gains, bouncing back from Wednesday’s losses

Posted on: January 11th, 2018 by ABC News No Comments

JaysonPhotography/iStock/Thinkstock(NEW YORK) — After a down day on Wednesday, Wall Street rebounded in a big way Thursday, nearing record closes.

The Dow Jones Industrial Average climbed nearly one percent, adding 205.6 to a close of 25,574.73.

The Nasdaq gained 58.21 on the day, finishing trading at 7,211.78, while the S&P 500 ended the session at 2,767.56, 19.33 higher than it began the day.

The Internal Revenue Service is working on what you’ll pay in taxes next year. The bureau’s new federal withholding calculator was posted on its website today. Treasury Secretary Steven Mnuchin says the changes will result in bigger paychecks for many Americans by February.

WalMart announced that it is giving some of its employees raises. The company says the new tax reform law will allow it to raise its minimum wage to $11 per hour. The company also said, however, that it would close dozens of Sam’s Club locations in the coming months.

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