Banks help stocks higher after Senate passes tax bill

NEW YORK (AP) — U.S. stocks are slightly higher Wednesday morning after the Senate passed a bill that would cut corporate taxes, with the House expected to approve the measure later in the day. Stocks have climbed in anticipation of the bill's passage. Banks are climbing as interest rates continue to rise and smaller companies are doing a bit better than the rest of the market. Both groups tend to do more business within the U.S. than other companies, and may see a larger reduction in their tax bills as a result.

KEEPING SCORE: The Standard & Poor's 500 index picked up 2 points, or 0.1 percent, to 2,683 as of 10:10 a.m. Eastern time. The Dow Jones industrial average added 40 points, or 0.2 percent, to 24,794.