Wall Street closes higher, S&P tops $20 trillion

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NEW YORK U.S. equity indexes hit record highs on Monday, with the benchmark S&P 500's market value topping $20 trillion as investors bet tax cuts promised by President Donald Trump would boost the economy. The Dow Jones Industrial Average . DJI rose 142.76 points, or 0.7 percent, to 20,412.13, the S&P 500 . SPX gained 12.15 points, or 0.52 percent, to 2,328.25 and the Nasdaq Composite . IXIC added 29.83 points, or 0.52 percent, to 5,763.96.