STOCKS FALL: Here’s what you need to know

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Stocks finished the day down slightly, with the S&P 500 posting a three-day losing streak, as a brief rebound in tech stocks failed to float markets back to the green.

Snap in particular got a much needed boost, gaining more than 9% after Barclays said the stock was at a “turning point” and could reach $18. Still, CCredit Suisse says the brief tech lull could be a great time to buy the sector.

Here’s the scoreboard:

  • S&P 500: 2,629.57 (-0.37%)
  • Dow: 24,182.00 (-0.44%)
  • Nasdaq: 6,762.21 (-0.19%)
  • Oil: $57.65 (+0.35%)
  • 10-year treasury bond: 2.76% (-0.04)
  1. Republicans received two new alarming reviews of their tax plan. A Gallup poll showed 29% of Americans approve of the bill, while 56% disapprove. Meanwhile, a Quinnipiac poll showed 29% approved and 53% disapproved.
  2. Disney and 21st Century Fox are closing in on a deal that could come as quickly as next week, according to a CNBC report citing sources familiar with the matter. Disney’s stock price sunk 2.7% while Fox was up about 0.3% by close.
  3. Speculation is growing that Tesla could merge with SpaceX – and it would make a lot of sense.
  4. There’s a tug of war raging over control of the stock market as sectors trade independently of each other.

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