* Trump expected to make major tax announcement on Wednesday
* Apple, Microsoft propel Nasdaq; McDonald's lifts Dow
* Nasdaq takes 17 years to climb 1,000 points
* Indexes up: Dow 1.14 pct, S&P 0.55 pct, Nasdaq 0.67 pct
(Updates to early afternoon)
By Yashaswini Swamynathan
April 25 The Nasdaq crossed the 6,000 threshold
for the first time on Tuesday, while the Dow registered
triple-digit gains as strong earnings underscored the health of
The tech-heavy Nasdaq rose as much as 0.70 percent to hit a
record level of 6,026.02, powered by gains in index heavyweights
Apple and Microsoft.
The index had breached the 5,000 mark on March 7, 2000 and
closed above that level two days later during the height of the
Tuesday's gains build on a day-earlier rally, which was
driven by the victory of centrist candidate Emmanuel Macron in
the first round of the French presidential election. Polls show
Macron is likely to beat his far-right rival Marine Le Pen in a
deciding vote on May 7.
"Political headlines in Europe don't tend to stick, but
create buying opportunities more than having long-term
consequences," said Stephen Wood, chief market strategist at
At 12:49 p.m. ET (1649 GMT), the Dow Jones Industrial
Average was up 235.96 points, or 1.14 percent, at
20,999.85, the S&P 500 was up 13.17 points, or 0.55
percent, at 2,387.32 and the Nasdaq Composite was up
39.91 points, or 0.67 percent, at 6,023.73.
Investors are also keeping a close watch on the latest
earnings season, hoping that companies will be able to justify
their lofty valuations, which were spurred in part by President
Donald Trump's pro-growth promises.
Overall profits of S&P 500 companies are estimated to have
risen 11 percent in the first quarter - the most since 2011,
according to Thomson Reuters I/B/E/S.
Trump, who had promised to make "a big tax reform"
announcement on Wednesday, has directed his aides to move
quickly on a plan to cut the corporate income tax rate to 15
percent from 35 percent, a Trump administration official said on
The Dow outperformed other major sectors, largely due to a
surge in Caterpillar and McDonald's after they
reported better-than-expected profits.
Eight of the S&P 500's 11 major sectors were higher.
DuPont's 2.8 percent increase, following a profit beat,
helped the materials sector top the list of gainers.
Biogen jumped nearly 4 percent after the biotech
company reported better-than-expected quarterly profit and
revenue on Tuesday.
Advancing issues outnumbered decliners on the NYSE by 2,017
to 853. On the Nasdaq, 2,020 issues rose and 766 fell.
The S&P 500 index showed 80 52-week highs and three lows,
while the Nasdaq recorded 194 highs and 36 lows.
(Reporting by Yashaswini Swamynathan in Bengaluru; Editing by