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U.S. stocks open higher ahead of Trump's tax plan

Xinhua, April 26, 2017 Adjust font size:

U.S. stocks opened slightly higher on Wednesday as investors were waiting for the Trump administration to announce the much-anticipated tax plan.

Treasury Secretary Steven Mnuchin confirmed with local media that the administration will call for a 15-percent corporate tax rate and the tax plan would be the largest tax reform in U.S. history.

Investors were also accessing a batch of quarterly earnings reports.

Dow component Boeing reported its first-quarter earnings before the opening bell. The company's earnings per share increased to 2.34 U.S. dollars while the revenue decreased to 21.0 billion dollars.

Shares of Twitter jumped 11 percent in early trading after it reported better-than-expected earnings after several quarters of disappointing results.

There are no major economic data due Wednesday.

Shortly after the opening bell, the Dow Jones Industrial Average was up 16.59 points, or 0.08 percent,to 21012.71. The S&P 500 rose 0.27 points, or 0.01 percent, to 2,388.88. The Nasdaq Composite Index gained 2.39 points, or 0.04 percent, to 6,027.88.

Stocks soared in the previous session on upbeat earnings and economic data, with Nasdaq soaring above 6,000, hitting an all-time high. Endi