Nasdaq hits new all-time high

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Stocks (^DJI, ^GSPC, ^IXIC) fading a bit but still higher after the Dow and Nasdaq hit new all-time intra-day highs, with the Nasdaq also hitting a new closing high. Catch The Final Round at 4 p.m. with Jen Rogers and Yahoo Finance markets correspondent Myles Udland.

Winners and losers

Stocks getting hit today include Fiat Chrysler as French officials are now probing the automaker for diesel emissions violations, BP as the British oil giant missed on earnings and revenue, and Michael Kors, with shares getting heavily discounted as the fashion and accessory maker’s full-year sales and earnings missed the mark.

Stocks in the winning column today include Tesoro as the country’s largest refiner reported a surprise profit, Anavex Live Sciences as Noble Financial initiated coverage of the biotech name with a buy rating, and Cardinal Health shares of the drug distributor showing no side effects today as the company beat on the bottom line by a healthy margin, although revenue came in a bit light.

The case against Steven A. Cohen

Steven Cohen is one of the richest, best known hedge fund managers of the last two decades. A genius trader whose incredible returns attracted investors—and the attention of the government. Sheelah Kolhatkar profiles Cohen and the pursuit to prosecute him in Black Edge: Inside Information, Dirty Money, and the Quest to Bring Down the Most Wanted Man on Wall Street.

Looking ahead

  • At 7 a.m. EST, the MBA releases mortgage applications for the week. In the prior week the index slipped over 4%.

  • At 10:30 a.m., we’ll get big data for the oil trade, with the EIA’s weekly crude inventory report. Last week inventories rose 6.5 million barrels, far exceeding estimates.

  • Plus, we’ll get big earnings reports from Allergan, Time Warner and Whole Foods.

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