STOCKS GO NOWHERE: Here's what you need to know

China trafficChris/ Flickr creative commonsMorning traffic chaos Shenzhen.

Stocks didn’t budge a whole lot on Tuesday, only slightly ticking higher.

The Nasdaq was the big winner, rising 0.35%, while the Dow Jones industrial average and S&P 500 lagged a bit behind.

The day was once again driven by news out of Washington, as details of the GOP’s tax plan trickled out and the latest Obamacare repeal effort fell through.

We’ve got all the headlines, but first, the scoreboard:

  • Dow: 22,295.56, -12.74, (+0.06%)
  • S&P 500: 2,497.04, -0.05, (0.00%)
  • Nasdaq: 6,381.73, +11.74, (+0.18%)
  1. Equifax’s CEO retired a few weeks after the company revealed its massive data breach. Richard Smith will retire as chairman of the board and CEO effective Tuesday, according to a statement from the company’s board.
  2. Biotech firm Axovant announced their test for a new Alzheimer drug failed. The company founded by 32-year-old Vivek Ramaswamy, saw its stock tumble nearly 75% in trading Tuesday after it announced the news.
  3. The lowest tax bracket in Trump’s tax plan will be 12%. This will be an increase from the current 10% bracket on the low-end, but the doubling of the standard deduction will mean more people will end up paying nothing in taxes.
  4. A college basketball bribery scandal leads to arrests of 10 people — including an Adidas executive. The indictments included four coaches from Arizona, Southern California, Oklahoma State, and Auburn as well as Jim Gatto, the director of global sports marketing for basketball at Adidas.
  5. Republicans’ latest attempt to repeal and replace Obamacare fell through. Senate Majority Leader Mitch McConnell said the GOP will move on from healthcare and focus on tax reform.


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