Crude plunge stalls stocks at all-time highs

Stocks pause after a fast and furious run up to all-time highs. Will the old stumbling block crude oil be the next market hurdle? Catch The Final Round at 4 p.m. ET with Alexis Christoforous and Yahoo Finance editor-in-chief Andy Serwer.

Winners and losers

Stocks slipping into the red today include crafts retailer Michaels getting sliced on a big secondary offering, oil producer Hess dropping with other energy names as crude tumbles, and Yelp dropping as Wells Fargo downgraded the crowd-sourced review site on concerns of increased competition.

Stocks on the move higher today include Juno Therapeutics as the FDA removed a clinical hold on a cancer drug trial, GNC jumping after DealReporter said the health goods retailer has attracted interest from Asian buyers, and Pandora in tune with investors after Piper Jaffray upgraded shares to overweight, citing improving profit margins and a new on-demand product.

Street smarts?

The average investor’s returns reportedly lag the long-run average market return by four to seven percentage points per year. So why are average investors falling behind? Joining us now is Spencer Jakab, “Heard on the Street” editor at The Wall Street Journal and author of the new book, “Heads I Win, Tails I Win: Why Smart Investors Fail and How to Tilt the Odds in Your Favor.”

Looking ahead

• In the morning, we’ll get producer price index data for June. The consensus estimate for the core reading is a 0.2% gain month over month.

• The Fed-speak rolls on with highly anticipated speeches by Jim Bullard, Dennis Lockhart, Esther George and Robert Kaplan.

• Finally, don’t call it the British Open—it’s known as “The Open.” Golf’s oldest tournament begins tomorrow at Royal Troon Golf Club off the rugged west coast of Scotland. World No. 1 Jason Day and 2014 champion Rory McIlroy tee off in the wee hours around 4:30 a.m. ET, with defending champion Zach Johnson stepping up to the first hole at 9:15 a.m.