Stocks opened in negative territory amid concerns surrounding how lawmakers can resolve the differences between the tax reform proposals put forth in the Senate and House. The lone economic data point was the consumer confidence reading, which was slightly short of expectations but went largely ignored by the market. Despite the lack of a catalyst the averages pared their losses and eventually moved to where they were little changed. However, the Dow and S&P closed the week lower, breaking their string of weekly advances after eight in a row. ECONOMIC EVENTS: In the U.S., the University of Michigan consumer sentiment survey fell 2.9 points to 97.8 in the preliminary November print. In energy news, Baker Hughes reported that the U.S. rig count is up 9 rigs from last week to 907. COMPANY NEWS: Shares of Disney (DIS) rose over 2% despite the fact the company’s earnings missed expectation due to investments, lower ratings at ABC and ESPN and Hurricane Irma’s impact on its parks. However, Disney also provided more color on its planned direct-to-consumer challenger to Netflix (NFLX) and announced plans for a new “Star Wars” trilogy along with its quarterly report… Meanwhile, Nvidia (NVDA) shares jumped 5.3% after the demand for its Gaming products and Data Center growth reacceleration drove stronger than expected quarterly results… Shares of J.C. Penney (JCP) surged 14.65% after the department store operator posted better quarterly results than it forecast two weeks ago when it cut its profit forecast for 2017… Meanwhile, Reuters reported that General Electric (GE) is expected to lay off sales staff and employees in its software unit ahead of new CEO John Flannery’s anticipated announcement on Monday of a plan to overhaul the company and cut costs. Two sources told Reuters that GE Digital plans to lay off roughly 100 people in the Americas, including those who sell the company’s Predix industrial internet software… In addition, Reuters reported that 21st Century Fox (FOXA) executive chairman Rupert Murdoch called AT&T (T) CEO Randall Stephenson twice over the past six months to talk about Time Warner’s (TWX) CNN. One source told Reuters that Murdoch offered to buy CNN in both calls, while another source said that Murdoch had “zero interest” in buying the news network. MAJOR MOVERS: Among notable companies up after earnings were News Corp (NWSA), which climbed 5.15%, and ICU Medical (ICUI), which advanced 10.2%. Some noteworthy losers after reporting earnings were Hertz (HTZ), which tumbled 2.25%, and Redfin (RDFN), which fell 9.8%. INDEXES: The Dow slipped 39.73, or 0.17%, to 23,422.21, the Nasdaq added 89c, or 0.01%, to 6,750.94, and the S&P 500 declined 2.32, or 0.09%, to 2,582.30.