NEW YORK, NY / ACCESSWIRE / November 29, 2017 / U.S. markets closed at record highs Tuesday as the U.S. moved one stepped closer to a tax reform after a recent Senate vote. The Dow Jones Industrial Average spiked 1.09 percent to close at 23,836.71, while the S&P 500 Index jumped 0.98 percent to close at 2,627.04. The Nasdaq Composite Index gained 0.49 percent to close at 6,912.36. The Senate Budget Committee voted 12-11 in favor of advancing the Republicans' tax bill, with Senators Bob Corker and Ron Johnson joining as "yes" votes.

"This is a strong market that continues to grind up, and I expect the market will continue to move higher throughout the end of the year. The market is very comfortable with valuations here, and so long as earnings continue to move up, I don't see that changing," said Wayne Kaufman, chief market analyst at Phoenix Financial Services, according to MarketWatch.

RDI Initiates Coverage on:

Bank of America Corporation
https://rdinvesting.com/news/?ticker=BAC

Citigroup, Inc.
https://rdinvesting.com/news/?ticker=C

Bank of America Corporation's stock moved 3.95% higher Tuesday, to close the day at $27.64. The stock recorded a trading volume of 99,756,418 shares, which was above its three months average volume of 63,908,206 shares. In the last year, Bank of America Corporation's shares have traded in a range of 20.25 - 27.98. The share price has gained 36.49% from its 52-week low. The company's shares are currently trading above their 200-day moving average. The stock's 50-day moving average of $26.82 is greater than its 200-day moving average of $24.72. Shares of Bank of America Corporation are trading at a Price to Earnings ratio of 15.82. Shares of Bank of America Corporation have fallen roughly 0.58 percent in the past month and are up 25.07 percent year-to-date.

Access RDI's Bank of America Corporation Research Report at:
https://rdinvesting.com/news/?ticker=BAC

On Tuesday, shares in Citigroup, Inc. recorded a trading volume of 18,048,317 shares, which was above the three months average volume of 14,554,200 shares. The stock ended the day 3.24% higher at 73.70. The share price has gained 33.44% from its 52-week low with a 52-week trading range of 55.23 - 76.14.The company's shares are currently trading above their 200-day moving average. The stock's 50-day moving average of $72.99 is greater than its 200-day moving average of $68.32. Shares of the company are trading at a Price to Earnings ratio of 14.23. Shares of Citigroup have fallen roughly 0.23 percent in the past month and are up 24.01 percent year-to-date.

Access RDI's Citigroup, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=C

Our Actionable Research on Bank of America Corporation (NYSE:BAC) and Citigroup, Inc. (NYSE:C) can be downloaded free of charge at Research Driven Investing.

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