New York Feb 24 (IANS) US stocks traded in a narrow range on Thursday as investors assessed comments of Treasury Secretary Steven Mnuchin.
At midday the Dow Jones Industrial Average was up 21.64 points or 0.10 per cent to 20 797.24. The S&P 500 lost 3.01 points or 0.13 per cent to 2 359.81. The Nasdaq Composite Index shed 37.95 points or 0.65 per cent to 5 822.67.
Mnuchin said in an interview with CNBC earlier on Thursday that he wanted to see a very significant tax reform passed before Congress August recess Xinhua news agency reported.
We want to get this done by the August recess. We ve been working closely with the leadership in the House and the Senate and we re looking at a combined plan he said.
US equities have posted sharp gains since Trump won the presidential election last November as investors bet that he would pursue massive corporate tax cuts deregulation and infrastructure spending.
Meanwhile Wall Street still digested the minutes from the US Federal Reserve s latest meeting.
The Federal Reserve officials expressed their confidence in the economy saying the next interest rate hike would be fairly soon as shown in the minutes of the agency s latest monetary policy meeting on Wednesday.
Many participants expressed the view that it might be appropriate to raise the federal funds rate again fairly soon if incoming information on the labor market and inflation was in line with or stronger than their current expectations officials said.
--IANS
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US stocks mixed after Treasury Secretary remarks
