Dow hits new record as Fed meets

The Dow hitting yet another record high as the Fed begins a crucial policy meeting. Plus – after hours earnings with Fedex and Bed Bath Beyond – we’ll have those for you. And – iPhone 8 reviews coming out now – what do mixed reviews mean for the stock? Catch The Final Round at 3:55 p.m. with Jen Rogers and Yahoo Finance markets correspondent Nicole Sinclair.

Winners and losers

Stocks in the red today include Rite Aid after Walgreens won approval to buy fewer Rite Aid stores that had been proposed, Under Armour as Wells Fargo downgraded shares to underperform with a $13 price target, and Tesla – shares under pressure as Jefferies initiated coverage with an underperform rating, claiming Tesla faces problems building scale.

Stocks in the green include Bob Evans Farms as Post Holdings will buy it $1.5 billion, Michael Kors on an Oppenheimer upgrade to ‘outperform’ citing margins that could improve, and Kohl’s – shares pulling higher as the department store chain revealed it is offering free Amazon returns in 82 stores beginning in the fall.

Previewing the Fed

All eyes are on the Fed tomorrow – and while a rate hike may not be in the cards, there will be a lot to watch. Here with a preview is Jurrien Timmer, Director of Global Macro at our sponsor Fidelity Investments joining us from Boston.

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