STOCKS RISE: Here’s what you need to know

Markets were up in every calendar month of 2017 — setting a high bar for the new year.

play

janet yellen

 (Pablo Martinez Monsivais/AP)

Stocks finished up on Tuesday, as Fed chair Janet Yellen warned that the recently passed Republican tax reform package could cause the central bank to raise interest rates more quicklythan previously signaled.

Here’s Tuesday's scoreboard:

• Dow: 24,916 (+0.37%)
• S&P 500: 2,712172 (+0.61%)
• Nasdaq: 7,065.5 (+0.84%)

What happened:

1. Spotify has confidentially filed for its initial public offering, Dan Primack of the news website Axios reported on Wednesday.
2. Tesla is expected to report delivery numbers soon, and traders are bracing for the worst.
3. BANK OF AMERICA: Tax reform could be a drag on company profits by next year.
4. Macy's is about to announce another round of store closings.

In other news…

• Disney is turning away from the dark side with its 21st Century Fox acquisition.
• Ripple's XRP token exploded to a new record above $3.
• Trump's tax overhaul has slowed Manhattan's real estate market.
• Finally, people thought millennials hated credit cards — then JPMorgan cracked the code with the Chase Sapphire Reserve.