Nasdaq Sets Fresh Intraday Record As Wall Street Awaits Trump Tax Announcement

By Mark DeCambre Markets MarketWatch Pulse

U.S. stocks opened cautiously higher on Wednesday, but enough to help the Nasdaq touch a new all-time high, as investors awaited an announcement from President Donald Trump's administration on a "massive" tax plan. The Dow Jones Industrial Average was up 26 points, or 0.1%, at 21,019 and the S&P 500 index traded up a point at 2,380, less than 0.1% higher. Meanwhile, the Nasdaq Composite Index , touched a new intraday trading high of 6,037.22, and was most recently trading flat at 6,024. Trump has vowed to slash the corporate tax rate from 35% to 15%, and a plan is set to be announced at 1:30 p.m. Eastern. In corporate news, shares of Twitter Inc. soared more than 9% after the social media company beat first-quarter earnings expectations.

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