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U.S. stocks mixed ahead of Trump's tax plan

Xinhua, April 26, 2017 Adjust font size:

U.S. stocks traded mixed on Wednesday as investors were waiting for Trump administration to announce the much anticipated tax plan.

At midday, the Dow Jones Industrial Average was up 66.19 points, or 0.32 percent, to 21062.31. The S&P 500 rose 2.38 points, or 0.10 percent, to 2,390.99. The Nasdaq Composite Index lost 1.34 points, or 0.02 percent, to 6,024.15.

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.

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