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Dow reaches record close as Wall Street posts sizable gains

JaysonPhotography/iStock/Thinkstock(NEW YORK) -- A good day for Wall Street as the Dow closed at a record high.

The Dow Jones Industrial Average gained 331.67 on its best day of the year. The index closed the session at a record 23,272.35.

The Nasdaq jumped just under one percent, ending the session at 6,873.97 -- 49.63 higher than it opened. Meanwhile, the S&P 500 had its best day in months, climbing 21.51 to 2,647.58.

Part of the reason the markets climbed is being attribued to encouragement over tax reform. The full Senate is expected to vote on a Republican tax reform plan on Friday.

Crude oil finished the day higher as well, a barrel selling at $57.40. That as oil ministers from OPEC and a group of non-OPEC partners agreed to extend crude oil outputs cuts until the end of 2018.

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