The markets are in full holiday mode as volume continues to wind down before the holiday break. The Dow 30 was down 28 today, the S&P 500 lost 2, and the Nasdaq 100 was off by 2. The Republicans were successful in passing their tax reform bill, which now will head to the President's desk. Other news was rather muted, as is typical this time of year. Traders expect the rest of this week to be rather quiet in regards to trading volatility.

FedEx (FDX  ) announced earnings which showed profits that beat Wall Street's expectations. The company also made very bullish comments for 2018. When asked about the potential for lower tax rates thanks to the Trump tax plan, the company said it would cause them to increase their outlook even more. The stock was higher by 3.62% on the day, hitting new peaks. For 2017 the stock is now higher by about 34%.

Stitch Fix (SFIX  ) shares fell 9.77% today as the company announced their first earnings since going public. The online apparel retailer showed a strong increase in the number of new customers, but earnings suffered due to spending. Going forward expect analysts to focus on their ongoing customer acquisition cost as the company admits that they will "accelerate" their marketing.

Jack in the Box (JACK  ) shares did a 180 today, losing 3.16% after an analyst at Jefferies downgraded the stock to hold from buy. The analysts cited increasingly competitive quick-serve restaurant environment as the cause for the downgrade. Shares are now just off multi-month lows.