S&P 500 tops $20 trillion as Wall Street eyes Trump tax cuts

U.S. equity indexes hit record intraday highs on Monday, with the benchmark S&P 500's market capitalisation topping $20 trillion as investors bet tax cuts promised by President Donald Trump would boost the economy. Trump vowed last Thursday to make a major tax announcement over the next few weeks, adding fuel to a rally that had stalled amid worries about the potential impact of his protectionist trade stance and a lack of clarity about other policy reforms. The S&P has surged 9 percent