Here are the headlines from Tuesday's Bloomberg Market Report.

If you're flying into or out of the Midwest or Northeast over the next few days, be prepared to make other plans. A winter storm led to more than 1,200 flights being canceled in Chicago Tuesday and hundreds more have been scrapped in and out of Washington, D.C. Wednesday. United Airlines announced it's offering affected travelers the option of rescheduling without paying the usual change fees.

Sequestration cuts mean less cash for whistle-blowers. The IRS says it will reduce the award given to anyone who turns in a tax dodger by almost nine percent. Last year, the agency paid out more than $125 million to informants who helped them collect nearly $593 million in extra revenue.

A major milestone on Wall Street Tuesday as the Dow reached its highest point in history. The S&P is close to breaking a record as well. It's less than two percent away from its all-time high.