U.S. stocks fell after the House of Representatives passed a Republican-led tax bill. The Dow, the Nasdaq and the S&P all closed lower. The Senate is expected to vote on the tax bill this evening.
Apple Inc. (AAPL) shares fell about 1% after Nomura downgraded the tech giant's stock to Neutral from Buy. The firm suggested sales of the iPhone X may not be robust enough to top Wall Street forecasts as customers turn to cheaper models and shun the $1,000 price tag.
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Shares of Jack in the Box Inc. (JACK) rose after announcing that it was selling Qdoba Restaurant Corp. chain to buyout shop Apollo Global Management LLC for $305 million. The decision came months after high-profile activist investors Jana Partners LLC's Barry Rosenstein and Jeff Smith's Starboard Value LP bought significant positions in the company.
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