Stocks slip following Fed minutes, energy weighs

Stocks (^DJI, ^GSPC, ^IXIC) slip a bit after the Fed minutes suggest a rate hike could be in play … but the Dow is at a new all-time high—again. Catch The Final Round at 4 p.m. ET with Jen Rogers and Yahoo Finance Editor-in-Chief Andy Serwer.

Winners and losers

Stocks getting hit today include Texas Roadhouse as the restaurant operator missed on earnings, revenue, and same-store sales; UPS as BofA/Merrill Lynch downgraded the shipper’s shares to neutral citing a “muted growth outlook;” and First Solar, with shares of the largest US solar panel maker tumbling as it posted its biggest-ever loss while slashing its earnings forecast.

Stocks on the rise today include Bristol Myers Squibb after the Wall Street Journal reported billionaire Carl Icahn has a new stake in the drugmaker, Toll Brothers as the upscale homebuilder beat on both the top and bottom lines, and lifted the low end of its sales forecast, and Tribune Media – shares of the media company getting a boost after activist fund Starboard Value disclosed a 6.6% stake in the company, making it Tribune’s 7th largest shareholder.

Why income plays will pay dividends in this market

Income and value stocks have lagged the broader market since the election, as investors have flocked to growth stocks they think will be fueled by future fiscal stimulus. Sandy Pomeroy, who oversees Neuberger Berman Equity Income Fund, says it’s a mistake to steer clear of dividend names right now. She joins us to discuss.

Looking ahead

• At 8:30 a.m. EST, the government releases jobless claims for the week. The Street’s expecting 243,000 initial claims. Claims have been below 300,000 for a 102 straight weeks, the longest stretch since the 70s.

• At 11 a.m. ET, the EIA releases its weekly status report. Last week, crude inventories climbed a surprising 9.5 million barrels, now totaling over 500 million barrels, exceeding the seasonal limit.

• We’ll also have live after-hours earnings from retailers Nordstrom and The Gap.