Anticipation that the Senate will pass a tax bill sent the markets soaring to close sharply higher with the Dow leaping 331 points to 24,272. Nasdaq climbed 49 points to 6,873.

On the upside

Immersion (Nasdaq: IMMR) appointed Carl Schlachte to the position of interim chief executive officer.

Tilly's (NYSE: TLYS) reported higher third quarter earnings that surpassed analyst expectations.

At Home Group (NYSE: HOME) reversed year ago losses to post a stronger than expected profit for the third quarter as revenue climbed prompting the home decor retailer to lift its full year forecast.

On the downside

Amira Nature Foods (NYSE: ANFI) reported higher earnings and revenue for the half year ended September 30, 2017 but the stock price fell.

Axalta Coating Systems (NYSE: AXTA) rejected a $9.1 billion cash acquisition offer from Nippon Paint and ended all merger discussions.

SMART Global Holdings (Nasdaq: SGH) priced a secondary offering of more than 3.2 million common shares at the discounted price of $33.50 per share.

In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 3 on the NYSE and by nearly 6 to 5 on Nasdaq. The broader S&P 500 climbed 21 points to 2,647. Bitcoin plummeted $204 to $9,695.