(CNBC) U.S. stocks finished higher on Thursday after some companies said they would spend the savings stemming from lower corporate taxes on higher wages and new construction.
The Dow Jones industrial average rose 55.64 points to close at 24,782.29. At its session highs, it traded more than 100 points higher.
The S&P 500 gained 0.2 percent to 2,684.57, with financials and energy rising 0.9 percent and 2.1 percent, respectively. Energy is also on track to post its biggest one-week gain in more than a year.
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The Nasdaq composite closed just above the flatline at 6,965.36.