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Alphabet, Facebook and Netflix are about to destroy the stock market's biggest dividend trade

The Dow, S&P 500 hit record highs. Plus global stocks rally on easing trade tensions, and the British pound falls after ‘Hard Brexit’ talk. Catch The Final Round at 3:30 ET p.m. with Jen Rogers and Yahoo Finance markets correspondent Myles Udland and Yahoo Finance Editor-in-Chief Andy Serwer.

Winners and Losers

Let’s take a look at some of today’s winners and losers. Stocks in the red include Pier 1, after the retailer disclosed disappointing “execution challenges;”  United Natural Foods as the Whole Foods supplier fell short in its latest earnings report; and Micron, as the chipmaker said the China tariffs will hurt it profitability.

Stocks in the green include ADT as stocks soar with announcement of integration of Amazon’s new Alexa Guard feature with the ADT Pulse security system; Texas Instruments as the board of the chipmaker has authorized a $12 billion stock buyback; and Gap, as the retailer is set to launch Hill City, an athleisure brand, to tap the booming activewear category.