Lower close ahead of tax reform reveal

The markets closed lower with the Dow tumbling 85 points to 23,348 as investors await details of the House GOP tax reform plan. Nasdaq slipped 2 points to 6,689.


On the upside


Stephen Cohen's Point72 Asset Management acquired more than 1.1 million shares of Adamas Pharmaceuticals (Nasdaq: ADMS).


Global Blood Therapeutics (Nasdaq: GBT) reported positive results from a case study involving a patient with sickle cell disease who was ineligible to participate in an ongoing Phase 3 HOPE study of voxelotor.


Acquisition rumors lifted shares of Mattel (Nasdaq: MAT).

On the downside


Walmart will not renew its license to distribute Iconix Brand Group's (Nasdaq: ICON) DanskinNow.


JPMorgan downgraded Office Depot (Nasdaq: ODP) from a Neutral rating to an Underweight rating.


JPMorgan downgraded Century Aluminum (Nasdaq: CENX) from an Overweight rating to a Neutral rating.


In the broad market, declining issues outpaced advancers by a margin of ore than 3 to 2 on the NYSE and by 2 to 1 on Nasdaq. The broader S&P 500 fell 8 points to 2,572. Bitcoin plummeted $84 to $6,093.


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