NEW YORK, May 23 (Xinhua) -- U.S. stocks traded mostly higher on Tuesday, as Wall Street kept an eye on President Donald Trump's first full budget plan.
At midday, the Dow Jones Industrial Average was up 40.67 points, or 0.19 percent, to 20,935.50. The S&P 500 rose 4.80 points, or 0.20 percent, to 2,398.82. The Nasdaq Composite Index gained 6.49 points, or 0.11 percent, to 6,140.10.
Traders focused on the White House's budget plan for next year, with a proposed 3.6 trillion U.S. dollars in federal spending cut over the next 10 years.
Media reported the budget also assumes the administration will be able to lower taxes for businesses and households.
U.S. stocks have posted solid gains and refreshed record highs since the presidential election partly because of the potential of lower taxes.
Meanwhile, investors looked ahead to the release of the minutes from the Federal Reserve's meeting in May and tried to find hints on the next move of the central bank.
The Fed policymakers are slated to meet next month. Market expectations for a June rate hike were 78.5 percent, according to the CME Group's FedWatch tool Tuesday.
U.S. stocks ended higher on Monday as oil prices rose on supply curb deal extension, and investors awaited speeches from Fed officials. Enditem
