Stocks fluctuate as GOP unveils tax plan

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Stocks are fluctuating but higher here as traders digest the GOP tax reform bill and Trump’s nomination of Jay Powell as Fed Chair. Plus, Apple earnings are on the way. We’ll have that HUGE report for you. And there’s a food fight going on—Papa John’s blaming NFL protests for a dip in sales, but Pizza Hut says otherwise. We have the latest. Plus, we break down tax reform, from a Main Street perspective. What does it mean for the millions of American small businesses?

Winners and losers

Stocks in the red today include H&R Block, with the tax preparer getting sliced after Trump said the new tax reform proposal wouldn’t be good for H&R Block; GoPro as the action-camera maker gave a weaker-than-expected holiday quarter forecast; and Time Warner, with shares getting lit up on reports the DOJ will block its merger with AT&T on anti-trust grounds.

Stocks in the green today include Qualcomm as the chipmaker beat on earnings despite Apple withholding royalty revenues due to patent dispute; Juno Therapeutics as SunTrust upgraded it to ‘buy’ based on a possible takeout; and Limited Brands, with shares of the Victoria’s Secret parent popping after it reported a surprise 2% same-store sales gain in October, instead of an expected 1.7% drop.

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