STOCKS RISE: Here's what you need to know
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Pablo Martinez Monsivais/AP
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Stocks finished up on Tuesday, as Fed chair Janet Yellen warned that the recently passed Republican tax reform package could cause the central bank to raise interest rates more quickly than previously signaled.
Here's Tuesday's scoreboard:
- Dow: 24,916 (+0.37%)
- S&P 500: 2,712172 (+0.61%)
- Nasdaq: 7,065.5 (+0.84%)
What happened:
- Spotify has confidentially filed for its initial public offering, Dan Primack of the news website Axios reported on Wednesday.
- Tesla is expected to report delivery numbers soon, and traders are bracing for the worst.
- BANK OF AMERICA: Tax reform could be a drag on company profits by next year.
- Macy's is about to announce another round of store closing.
In other news…
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- Disney is turning away from the dark side with its 21st Century Fox acquisition .
- Ripple's XRP token exploded to a new record above $3.
- Trump's tax overhaul has slowed Manhattan's real estate market.
- Finally,People thought millennials hated credit cards - then JPMorgan cracked the code with the Chase Sapphire Reserve
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- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- Kotak Mahindra Bank shares tank 13%; mcap erodes by ₹37,721 crore post RBI action
- Rupee falls 6 paise to 83.39 against US dollar in early trade
- Markets decline in early trade; Kotak Mahindra Bank tanks over 12%
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