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Record-setting day on Wall Street despite large decline in new home starts

Wed, 18 Oct 2017 20:12:05 +0000

JaysonPhotography/iStock/Thinkstock(NEW YORK) -- Record closes for all three major indices on Wednesday, including a new milestone for the Dow Jones Industrial Average, despite a poor month for new home starts.

The Dow Jones Industrial Average gained 160.16 on Wednesday, finishing the day at 23,157.60 -- the first ever close above 23,000.

The Nasdaq added 0.56, reaching 6,624.22 at the session's end, while the S&P 500 set a new record of 2,561.26 -- gaining 1.9 on the day.

Treasury Secretary Steven Mnuchin said Wednesday that the White House's tax reform plan is of major importance. If it doesn't pass, he claims, the stock market will tank.

And new home construction fell nearly five percent in September, the biggest decline in about six months.

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