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

By MarketsMarketWatch 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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