S&P and Nasdaq notch new record highs as tech, retail lead the way

It’s another record breaking day, with the S&P (^GSPCand Nasdaq (^IXICpowering to new all highs. But can the bulls maintain their edge as Trump returns stateside? Catch The Final Round at 4 p.m. with Jen Rogers and Yahoo Finance markets correspondent Myles Udland.

Winners and losers

Stocks sliding into the red today include casual apparel retailer Genesco as it disappointed on both its top and bottom lines as well as same-store sales, government services provider Maximus on a downgrade at KeyBanc, and Hormel Foods. The maker of Spam reported a miss on both earnings and revenue, citing challenging conditions in the turkey industry.

Meanwhile, stocks ending the day in the green include Aerie Pharma on positive late-stage trial results for its glaucoma eye drops, data provider IHS Markit moving up on news that it’s set to join the S&P 500, and Best Buy. Shares of the electronics retailer are higher after reporting a big earnings beat and revenues ahead of consensus on strength in gaming.

Looking ahead

Here’s what will be making headlines tomorrow:

  • In the morning we’ll get a revised estimate of first quarter GDP … economists are looking for a slight bump up in the number.
  • At 1 p.m. ET, Baker Hughes will release its rig count for the week. Last week US rigs increased for the 18th straight week.
  • Finally, rounding up his overseas trip, Trump will attend the G7 summit in Sicily, where he is planning to “press America’s economic agenda and call for greater security cooperation.”