The Dow Industrials take charge, as the blue chips hit a new all-time record. We break down all the action on another big day for the market. Catch The Final Round at 4 p.m. ET with markets correspondent Nicole Sinclair and Jeff Saut of Raymond James.
Winners and losers
Stocks on the move lower today include RCA and Klipsch audio parent VOXX International on weaker than expected earnings, mortgage REIT PennyMac Mortgage Trust slipping on a BofA/Merrill Lynch downgrade, and Fastenal – the industrial supply company slipping on a earnings and revenue miss, citing a decline in the number of large customers.
Stocks on the move higher today include aluminum producer Alcoa on an earnings beat and upbeat guidance, Sage Pharmaceuticals on positive phase 2 trial results for its post-partum depression treatment, and Seagate – the hard drive maker up after announcing it would slash 6,500 jobs, only weeks after revealing it would cut 1,600 jobs. The company also boosted its revenue guidance.
End of the business cycle?
While the Dow hits new highs, are there some problems lurking under the surface? Joining The Final Round to discuss why this business cycle may be at an end is James Swanson, Chief Investment Strategist at MFS.
The Fed-speak rolls on this week with speeches by the Dallas Fed’s Robert Kaplan and Philly Fed’s Patrick Harker tomorrow
At 10 AM Eastern we’ll get big oil data with the EIA’s weekly crude inventory report. Last week we saw a drawdown of 2.1 million barrels.
And earnings season starts to pick up with big reports from rail operator CSX and KFC and Taco Bell parent Yum Brands after the bell.