Tax cut delay weighs down markets


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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