Stocks were mostly higher for most of the day as Trumps new tax plan was officially announced. By the end of the day, however traders took the opportunity to sell the news, pushing stocks to the lows of the session. While there are still many questions to be considered, investors took the opportunity to lock in some of the gains from this recent rally. The Dow 30 was lower by 18, the S&P 500 lost 1, and the Nasdaq 100, which hit all time highs yet again today finished flat. Tomorrow traders will likely weigh more information on the tax plan along with news from the European Central Bank press conference, unemployment claims and pending home sales.
Twitter (NASDAQ: TWTR) saw a rare 7.91%, positive day today as the company reported earnings that were better than what Wall Street had predicted. Revenue was the only blemish on the report, but since it was still better than expected, investors chose to focus on the social metrics instead. Shares have been beaten down in recent years but this move today brings it almost back to even on the year. Shares are now lower by only 1% for 2017.
Chipotle (NYSE: CMG) enjoyed a nice 2.00% gain today after the fast casual food chain announced a beat on both its top and bottom lines for the first quarter. This came as a surprise to Wall Street which sent the bulls in. One of the major focuses was sales metrics which were higher for the first time since the e-Coli issues back in 2015. Shares have been on a steady march higher this year and are up by almost 30%.
Deckers Outdoor (NASDAQ: DECK) shares added another 3.06% today thanks to a report that the company is "exploring strategic alternatives including putting itself up for sale." The company says that they will provide an update of its plans when it reports quarterly results on May 25th. Shares are higher by over 10% for 2017.