Dow jumps triple digits as oil hits 2016 high

Stocks rally day two with energy and materials leading the way, as traders learn to stop worrying and love the upcoming rate hike. Plus, did HP just prove that spinoffs work? And, could a contentious Brexit be the next Y2K? We break down the market impact. Catch The Final Round at 4 p.m. ET with Jen Rogers and Yahoo Finance Editor-in-chief Andy Serwer.

Winners and losers

Stocks slipping into the red include retailer Express getting marked down after weak earnings; TurboTax maker Intuit dropping despite an earnings beat as the company will sell off some businesses; and Alibaba, the Chinese e-commerce behemoth of which Yahoo owns a small stake, sinking on an SEC accounting inquiry into the company's "reporting of operating data from Singles' Day."

Stocks on the move higher include hard drive maker Western Digital on a Barclay's upgrade, IT services firm CSC jumping on its merger with HP's enterprise business, and Sarepta surging after the FDA delayed its ruling on Sarepta's Duchenne muscular dystrophy treatment, raising hopes it may approve the treatment after an advisory panel rejected it.

Could Brexit roil the markets?

Could Brexit give this market fits? Joining The Final Round to discuss is Hank Smith, vice president and CIO at Harverford Trust. He breaks down the Brexit effect, what's next for the market, and sectors he's watching.

Looking ahead

• In the morning we'll get durable goods orders for April. In the prior month we saw a 0.2% drop in the core, or ex-transports, reading.

• The big week for housing data rounds out with pending home sales for April. The consensus reading is for a 0.8% jump month to month.

• Finally, tomorrow night on ESPN, it's the one for all the marbles, the Scripps National Spelling Bee Championship from National Harbor, Maryland. This year's contest will feature the youngest ever contestant in spelling bee history, six-year-old, home-schooled Akash Vukoti from San Angelo, Texas.