Tax cut delay weighs down markets

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The markets closed lower with the Dow falling 39 points to 23,422 over the potential delay to corporate tax cuts. Nasdaq held steady at 6,750.


On the upside


Omeros (Nasdaq: OMER) narrowed losses for the third quarter.


Avid Technology (Nasdaq: AVID) posted a profit the the third quarter.


J.C. Penney (NYSE: JCP) reported a smaller than expected loss for the third quarter as same store sales rose more than expected.

 

On the downside


Intrexon (NYSE: XON) widened losses for the third quarter.


Fourth quarter earnings fell for Esterline Technologies (NYSE: ESL) on lower revenue. 


Shares of Trade Desk (Nasdaq: TTD) extended its losses.


In the broad market, declining issues outpaced advancers by a margin of nearly 4 to 3 on the NYSE while advancers barely edged out decliners by a slim margin on Nasdaq. The broader S&P 500 slipped 2 points to 2,582. Bitcoin crashed $395 to $6,733.


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