2017.12.1322:23:00UTC+00Wall Street Mostly Higher as Dow Hits Record Close

The Dow Jones industrial average reported a record finish on Wednesday after the Federal Reserve hiked rates yet again. Investors also priced in news of Congressional leaders reaching a tentative agreement on a tax overhaul plan.

The 30-stock index gained 80.63 points to 24,585.43, with Caterpillar leading advancers. The Dow also reported an intraday record.

The S&P 500 ended below breakeven at 2,662.85 as financials had their worst session since Nov. 7, declining 1.3 percent. The index reported an intraday all-time peak earlier in the session.

The Nasdaq composite rose 0.2 percent to 6,875.80.

Industrials are seen to benefit the most from the an overhaul of the tax bill, on which Republican leaders of both the Senate and the House reached a deal. Caterpillar increased 3.3 percent and Boeing rose 1.6 percent, helping the S&P industrial sector to climb 0.75 percent.

Finisar jumped 22.8 percent after Apple awarded it $390 million. Finisar makes optical communications components which are used in Apple's iPhone X.

Western Digital rose around two percent and was the biggest tech gainer after the company agreed to settle a dispute with Toshiba.

Verizon and AT&T both dropped after T-Mobile announced it bought Layer3 TV and said it plans to launch "a disruptive new TV service." T-Mobile was up 0.6 percent.