NEW YORK, Nov. 13 (Xinhua) -- U.S. stocks traded higher on Monday amid speculation about the future of President Donald Trump's tax reform plan.
At midday, the Dow Jones Industrial Average added 16.64 points, or 0.07 percent, to 23,438.85. The S&P 500 gained 1.79 points, or 0.07 percent, to 2,584.09. The Nasdaq Composite Index was up 5.49 points, or 0.08 percent, to 6,756.43.
The market had rallied to record highs amid renewed expectations that U.S. Congress, along with the Trump administration, would be able to move forward with the tax reform in 2017.
However, rising concerns emerged after the Senate Republicans on Thursday unveiled a plan to overhaul the U.S. tax code that contains key differences from a comparable House tax plan.
The Senate bill would delay a corporate tax rate cut from 35 percent to 20 percent until 2019, denting investors' hope for a new tax plan before the end of this year.
In corporate news, JD.com, China's second largest e-commerce giant, reported quarterly revenue of 12.58 billion U.S. dollars, higher than market consensus and up 39 percent from last year.
The online retailer also reported adjusted earnings of 23 cents, beating market expectations. Shares of JD jumped 5 percent around midday on Monday. Enditem
