Stocks soar as Dow, S&P 500 explode to new highs

Yahoo Finance

Stocks are on fire with the Dow soaring over 200 points, and the S&P 500 hitting a new all-time high. Catch The Final Round at 4 p.m. ET with Jen Rogers and Yahoo Finance’s Jared Blikre.

Winners and losers

Stocks sinking to end the day include Pioneer Energy Services after it announced it was expanding its share issue as a way to pay down debt, Pfizer after a British regulator hit the pharma giant with a $106 million fine for imposing a 2600% price hike on an epilepsy drug, and Alere. Shares of the medical-test maker sinking after Abbott Laboratories’ suit to terminate its acquisition of Alere.

Meanwhile, stocks ending the day in the green include Dave & Buster’s after reporting a big beat on its top and bottom lines, Wendy’s as Trian—the fund owned by billionaire Nelson Peltz—increased its stake in the fast food chain, and Western Digital. Shares pushing higher as the hard disk drive maker raised its revenue and earnings forecast, citing increased revenue from a cross licensing agreement with Samsung.

What’s next for the Fed?

What’s next for the Fed with Trump in charge? Former Fed insider Danielle DiMartino Booth is here with her predictions.

Looking ahead

  • In the morning all eyes will be across the pond as the ECB will release its latest policy statement and interest rate decision. Markets expect a relatively dovish decision.

  • Also in the morning, we’ll get jobless claims for the week. The Street’s expecting 255,000 initial claims.

  • We still have earnings reports coming out, highlighted by Sears, Broadcom and Restoration Hardware.