Closing Bell: Trump Tax Reveal Raises Questions; U.S. Stocks Retreat From Slight Gains

The White House revealed its highly anticipated tax plan this afternoon and markets reacted with a shrug, giving up slight gains to post slight losses. The one-page release and brief press conference failed to provide the level of detail Wall Street had hoped for. The White House proposes a 15% corporate tax rate and a top individual tax rate of 35%, the number of individual tax brackets to be reduced to three from seven, and the repeal of the alternative minimum tax and the death tax. Twitter (TWTR) - Get Report surged after narrowing its quarterly loss and beating adjusted earnings estimates. Average monthly active users increased by 6% over the first quarter from the fourth. Dow component Boeing (BA) - Get Report reported a mixed quarter with earnings above consensus and revenue below. The company said it remains on track to achieve revenue, earnings and cash flow targets for the full year.