(Corrects to fix typo in first paragraph)
* White House says to lead efforts on tax reforms
* Fed Chair Janet Yellen to speak later in the day
* Tesla up after China's Tencent takes 5 pct passive stake
* Indexes up: Dow 0.01 pct, S&P 0.05 pct, Nasdaq 0.11 pct
By Yashaswini Swamynathan
March 28 U.S. stocks struggled for direction on
Tuesday as investors chose to look beyond President Donald
Trump's first major policy setback, while awaiting comments from
several Federal Reserve officials, including Fed Chair Janet
A failed healthcare bill sent the dollar and stocks down on
Monday as investors questioned Trump's ability to push his
ambitious agenda of tax cuts and simpler regulations in
However, markets steadied after Trump said he would turn his
attention to "big tax cuts". The White House later said it would
lead the role in reforming the U.S. tax code, eyeing an August
"Yesterday's move was actually quite a small unwind and was
quickly opposed, and it tells me that investor sentiment hasn't
been unduly damaged by the failure of that (healthcare)
legislation," said James Athey, Investment Manager at Aberdeen
"We would see this volatility to be normal and healthy and
not something to be overly concerned about at this stage."
Investors are awaiting Federal Reserve Chair Janet Yellen's
speech at a conference in Washington, where she could provide
some insight into the timing of the central bank's next interest
Other Fed officials scheduled to speak at separate events
include Fed Board Governor Jerome Powell, Dallas Fed President
Robert Kaplan and his Kansas City counterpart, Esther George.
At 9:39 a.m. ET (1339 GMT), the Dow Jones Industrial Average
was up 2.55 points, or 0.01 percent, at 20,553.53, the
S&P 500 was up 1.24 points, or 0.05 percent, at 2,342.83
and the Nasdaq Composite was up 6.20 points, or 0.11
percent, at 5,846.57.
Four of the 11 major S&P 500 sectors were slightly lower,
while three gained and the rest were little changed.
Shares of Tesla rose 3.3 percent to $279.10 after
the maker of electric cars said Chinese technology giant Tencent
Holdings had paid $1.78 billion for a 5 percent
passive stake in the company.
Amazon.com was the top stock on the S&P and the
Nasdaq, with a 0.8 percent gain, after the company agreed to buy
Middle East online retailer Souq.com.
Red Hat jumped 5.1 percent to $86.41 after the Linux
operating system distributor reported quarterly revenue that
beat analysts' expectations.
Advancing issues outnumbered decliners on the NYSE by 1,433
to 1,103. On the Nasdaq, 1,172 issues rose and 1,028 fell.
The S&P 500 index showed 10 52-week highs and no new lows,
while the Nasdaq recorded 37 highs and 10 lows.
(Reporting by Yashaswini Swamynathan in Bengaluru; Editing by