The Dow jumping to a new all-time high as tech recovers with FANG back in the hunt. (^DJI, ^GSPC, ^IXIC) Catch The Final Round at 4 p.m. with Jen Rogers and Yahoo Finance markets correspondent Nicole Sinclair.
Winners and losers
Let’s take a look at some of today’s winners and losers. Stocks in the red today include Science Application International as the defense contractor’s revenue and profit margins missed the mark, Shopify as Goldman downgraded the e-commerce platform to ‘neutral’ citing downside risk concern, and Cheesecake Factory – shares getting fried after the restaurant chain warned on second quarter sales, blaming “unfavorable weather that reduced patio usage.”
Stocks pushing higher today include IMAX as the theater chain announced layoffs as box office numbers slip, Tableau Software on a Goldman upgrade to Buy with a new $78 price target, and Tesla – shares ripping higher as the carmaker received a top safety rating for the Model X SUV, and investing legend Ron Baron told CNBC he thinks Tesla will be a $1000 stock by the 2020s.
Is advertising dead?
Advertising– a nearly $600 billion industry– is dead, at least as we know it. That’s according to our next guest, Andrew Essex. He’s the CEO of Tribeca Enterprises and the author of the new book The End of Advertising: Why It Had to Die, and the Creative Resurrection to Come.
- It’s a big day of reports– at 8:30 am we’ll get a read on the economy with the consumer price index, or CPI for May. In the prior month CPI jumped 2.2%.
- Also at 8:30 am we’ll get retail sales for May. Economists are expecting growth of 0.1%, a dip from the prior month.
- Finally- the FOMC policy meeting is here, stick with Yahoo Finance as we’ll have the Fed’s interest rate decision live at 2pm Eastern, followed by Janet Yellen’s press conference.