US stock market opens higher ahead of Trump tax reform

Trump's highly-anticipated tax reform is expected to be announced later Wednesday

By Ovunc Kutlu

NEW YORK (AA) - The stock market opened higher Wednesday as investors await details of President Donald Trump's tax reform.

A cornerstone of his presidential campaign, Trump promised to lower corporate and individual tax rates in his country.

The much-anticipated tax reform is to be announced later Wednesday, and it is expected to propose lowering corporate tax rate to 20 percent, from 35 percent, giving a boost to American companies' earnings.

Investors, as a result, have taken a buying position in the market and rushed at the stocks.

At the first bell, the Dow Jones rose 74 points to 22,358 points. The S&P 500 added 10 points to 2,507 points.

The Nasdaq increased 49 points to begin trading at 6,430 points.

Kaynak:

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