Wall Street held onto earlier gains through to the close as President Trump talked tax reform. Trump's comments were light on detail, though he did mention again his plans for a 15% corporate tax rate.
Netflix Inc. (NFLX) boosted tech names after Bernstein analysts reiterated an OVERWEIGHT rating. The firm said Disney's decision to pull content from the streaming service would not have a great impact, given the bulk of Netflix's growth will come internationally.
Brown-Forman Corp. (BF.A) climbed after raising its guidance for the first time in more than six years. Stronger growth is tied to favorable currency exchange, lower tax rates, and confidence in new Jack Daniels products.
H&R Block Inc. (HRB) fell after reporting a wider quarterly loss than a year earlier. The tax-preparation firm did manage to beat revenue estimates, though. Sales increased 10%.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Breaking down an approach to the long side of this biotech stock.
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