Stocks have held onto the bulk of yesterday's gains sparked by comments from Treasury secretary Steven Mnuchin that tax reforms will be delivered very soon.
The S&P 500 edged four points lower to 2,352, having gained 18 points yesterday, while the Dow Jones was down four points at 20,575 after yesterday's 178-point gain.
Speaking at a conference on the fringes of the International Monetary Fund and World Bank in Washington, Mnuchin said the Treasury was working on tax reform 'day and night'.
'It will be sweeping, it will be significant and it will create a lot of economic growth,' he said.
The prospect of heavy tax cuts has been the major driver in stockmarkets' rally since the election of Donald Trump in November.
But bullishness was checked by Trump's failure to enact healthcare reforms, raising questions over his ability to deliver on the rest of his campaign pledges.
But Mnuchin said that defeat would not deter progress on tax. 'Whether health care gets done or health care doesn't get done, we're going to get that tax reform done,' he said.