Stocks rocket to all-time highs as Dow pierces 20,700

It’s blast-off on Wall Street as stocks (^DJI, ^GSPC, ^IXIC) rocket to new all-time highs, with the Dow blowing through 20,700. Catch The Final Round at 4 p.m. with Jen Rogers and Yahoo Finance markets correspondent Myles Udland.

Winners and losers

Stocks starting the week in the red include Unilever as Kraft Heinz withdrew its $143 billion bid for the food company after Unilever initially rejected the offer; Momenta Pharmaceuticals after supplier Pfizer received a warning letter from the FDA concerning Momenta’s MS drug; and Fannie Mae, with shares of the mortgage guarantor taking a tumble after a federal court upheld a ruling barring hedge funds from suing the government, following the government’s decision to take billions in profits from the GSEs following their bailout.

Stocks on the run higher today include Legg Mason on a streetinsider.com report that the asset manager had received a takeover offer; Mondelez on trader speculation that it would be the next takeout target for Kraft Heinz following the Unilever withdrawal; and Popeye’s Louisiana Kitchen, with shares flying higher as Restaurant Brands will acquire the fast food chicken chain for $1.8 billion in cash. Reports first surfaced of a talks taking place last week.

Tesla earnings preview

Tesla is set to report earnings after the bell tomorrow. As the stock teeters at all-time highs, analysts have never been more bearish. Yahoo Finance’s Justine Underhill has more at the charts.

‘Microbubbles’ in Silicon Valley

Last year was supposed to be the year the tech bubble finally burst. While that didn’t happen, are there a series of smaller “bubbles” within tech that could start bursting soon? Yahoo Finance’s JP Mangalindan joins us now from San Francisco to discuss.