michael santoli. that does it for "closing bell."fast money" begins now. ♪ money money money money >>> breaking news, america keeps getting richer in the stock market. the dow 90 points away from 20,000, more than 100 points today. what a run since the election. all the major indices closing at a new record high with the nasdaq the biggest winner up 12%. so the dow approaching 20,000 and stocks at a record. if you missed out on this rally like so many of you have and waiting for the pullback, what can you do right now? are there stocks you can put pressure money to work in? >> i think 20,000 is a big deal. people wake up and say, wait a second.

michael santoli was pointing out the last 15 minutes are not always great. the trend has been worse. we already know there is selling pressure on the bell and a number of reasons we see the stocks move especially lower. >> the last few minutes we saw a huge sell off and then it started. it just continued. remember the first part of last year the first month or so was one of the worst first months we had seen in quite a while. >> in decades. watching the markets close. dow is down 75 off of session lows. s&p down 12. naz down 52. >>> we are going live to moscow where president putin is defining a recommendation from his own foreign minister to retaliate against u.s. hacking sanctions. and we speak about how the latest tensions can play out especially when donald trump takes off. >>> as wall street gets ready to bid farewell to 2016 two investors tell us what they made the most money on this year. you're watching cnbc, first in business worldwide. ♪ w' drwhere, in all of tis stuff? thstakes are so high, yyour future. hodo you s this? thstakes are so high, u do

i like are michael santoli's analogy. i think we have plenty of fuel in the rocket. i think we are just orbiting. i think sarge nailed it. there is little doubt to rebalancing is affecting the psyche of traders that might have put it over the top in 20 k. that might have sent yields higher. consider this. i don't often talk about the tlt, etf for the long end. it has had a lot of aggressive buying calls. i believe the expiration is in february. it doesn't matter if you are out of money and the move starts before february it has a small delta. there are many that are looking for slight reversals. ralph is the legendary technician and i like that he is in agreement with our levels. i'm not sure i'm in agreement with his timeframe. if you call for 23,000 and you're wrong and in the first quarter you get to 21,000 i don't think there is tag days for ralph. >> you say you would stick with the financials here. we just learned that goldman and key bank are leading financials up 50% this quarter. you going to stay with them? >> i think a lot of professional investors is stil

cnbc pro columnist michael santoli.nbc contributor evan newmark and for more on today's market action we are joined by fast money trader guy adami. michael santoli, i will start with you because it seems like everyone was using the same play book post the election but maybe today was the day they ripped it up. >> it took a rest today. this urgent rotation that you were talking about, it definitely has -- when the bond market rallied a little bit it did kind of put a halt to that. i think it is probably a healthy thing. the way money was moving so desperately from group to group especially yesterday was almost buying panic and selling at the same time. it makes sense that the market should settle out here. s&p 500 up 2.5% since the close on election day. it seems like a bigger move because those rotations have been so dramatic and then you have the sell off in the bond market. your diversified portfolio kind of stood still. it felt like things got better because cyclical groups are working. >> have you tried to play this

if the yield curve adverts and you shorten duration you will be out of luck. >> michael santoli, how would you tie a bow on this? >> there is a long way between here and there when we are at 2.4%. i think you can basically have a market run too far in the short term to really be justified by what you seeing and hearing now. you have to give it the benefit of the doubt. do we borrow from january's gains? maybe we did. in terms of rotation financial stocks have outperformed technology stocks. i don't think people are behaving as if that is the case. >> on three year basis -- >> guys, we have to go at this point. thank you. >>> kelly just wrote a piece on whether the trump rally could result in a hangover come january. you can check that out at cnbc.com/thespark. >>> we have two corporate stories breaking. dominic chu stepping in. >> let's start with time inc. those shares are spiking this on the heels of a dow jones story citing sources saying time inc. has hired bankers including morgan stanley and bank of america to possibly field takeover or partnership interests in this magazine pu

i'm sara eisen alongside michael santoli who is in for wilfred frost. earlier i said happy monday.s tuesday. >> that's how people feel. >> it's also the last week of 2016. so all week we're playing the top songs of the year. >> that was only from this year. >> only from this year. yes. played so much. >> the mileage. we'll check on global markets first thing this morning. the futures trading slightly lower most of the morning. we came into the week a little bit of a quiet friday to open up the final five days of the trading year. you see the dow futures, yeah, everything just a little bit slightly below fair value. dow industrial average is a little bit less intense march towards 20,000 but definitely still within one dood dgood day distance. the treasury market some talk stocks outperformed bonds. you may see a rotation out of stocks into bonds by pension funds. no real evidence of that but yields holding steady around 256. >> flood of economic data out of asia. here's a recap. let's start with japan. the consumer price numbers, consumer price index declining .4 of a percent from

michael santoli. that does it for "closing bell." "fast money" begins now. ♪ money money money money >>> breaking news, america keeps getting richer in the stock market. the dow 90 points away from 20,000, more than 100 points today. what a run since the election. all the major indices closing at a new record high with the nasdaq the biggest winner up 12%. so the dow approaching 20,000 and stocks at a record. if you missed out on this rally like so many of you have and waiting for the pullback, what can you do right now? are there stocks you can put pressure money to work in? >> i think 20,000 is a big deal. people wake up and say, wait a second. here is dow 20,000, what's going on. >> it's a number that will force people to look at the market, maybe for the first time in quite some time. so if nothing else, it gets people's eyeballs on the market. to answer your question, i still think there are sectors. and health care has been underloved for a number of different reasons, all of which make sense. but also on valuation, a lot of bi

joining me on the panel we have cnbc senior markets commenter and pro columnist michael santoli alongith brian kelly. michael, your thoughts on the market? >> mostly a flat day. for about a week and a half the market has kind of retained its gains from the rally. it has been handing the lead back and forth among the different groups. it's like five people in the water. there are only four life rafts. i think that is kind of okay for now. the big question is are we set up in the way similar to the past couple of decembers where we had a strong finish and then you had to give back in january. i don't think it is clear that is the case right now. you had the vix below 12 which reflects the gentle pace as opposed to being really a warning sign. >> it feels like the energy has come out a little bit of this market. let's not forget there were a few things happening during the session today that assassination in turkey and of course the plowing down of people in germany which we are still getting information about that story, a tragic event in berlin that happened a few hours ago. how do you

joining me we have cnbc senior market commentator michael santoli. also with us senior portfolio manager. welcome to you. michael, what do you think about -- we popped up this morning. now we are drifting. art cashin saying we would like to see it happen before we turn the calendar. >> i think there seems to be this mechanical sell stocks to buy bonds kind of passive index funds. i do think that is out there. i feel like we all sense that we are being tantalized by this move. if it were a third of a percent below it could be exactly this frustrating. >> likening it to the one minute on new year's eve. just another minute in our lives but is momentum. >> it's a point in the index chart to assess exactly how far we have come. i would say the s&p 500 also barely went up in approach. didn't quite get there. it is as calm as you would expect for the final week of the year and with the upside bias that you expect. >> if only the dow behaved like the s&p we would have been above 20,000. >> heavy industrials and financials. today was tech stocks having their

joining me michael santoli, also with us fast money trader guy adami joins us from the nasdaq.ood to have everybody on board. it's teasing us. >> it is very low energy. i don't think the market is doing anything unusual even though it seems tantalizing. by the way, the whole watched pot never boils saying, it is not true. a watch pot eventually boils but it seems like it takes forever. i think that is the take away here. i think it reminds me of other periods where you digest in a big rally. the market kind of slows its metabolism and you start to say maybe retail sales are going to come through. so now it's a little bit of a test to see if the fundamentals are going to be supportive enough. >> jobless claims this morning jumped, the wage gains weren't that great. the stuff that was supposed to be clicking wasn't clicking this morning. that said we have had weak data the market just ignored and today took it as an excuse to sell. >> feels as though it is manifesting itself. i think mike was eluding to. if you look nordstrum has had a huge run over the summer. the stock went fro

i'm sara eisen along with david faber and michael santoli. carl has the day off. will today be the day the dow hits 20,000? well, we are now about 30 points away, thanks in part by the strength in technology. that has sent the nasdaq right now to record highs, zooming ahead. and the s&p is within a few points of its own intraday record. oil up a percent is certainly helping this rally, david. >> it is indeed. we also have some breaking news on the economy. let's get over to rick santelli in chicago. rick. >> wow, this is fascinating. so we get our december read on consumer confidence from the conference board, not to be confused with michigan. our last look was lofty enough, 107.10. that moves up to 109.4 and 113.7 is the new read. boy, that's the highest since august of 2001. that's a biggie. shouldn't be any surprise, though, given the performance of the market and the correlation of any confidence number to performance in markets, especially stock markets. and finally we're expecting 5 and we get 8. 10.2 is our last look and 10.2, does it stay? no, no, no. 4 --

. >>> joining me is michael santoli. also with us cnbc contributor heather. good to have you both with us. mike, it was so clear when we were in rally mode what the story was. financials were driving. changing a little bit day to day. what is the story now? >> it is a slow unspooling of a lot of those moves. markets really just holding steady. today could not have been much more balanced. 50% of stocks are up. the average stock in the s&p almost dead flat. the market is going to hold the value for a moment. if i am wanting to be bullish we say hovering near the highs and burning off the overbought conditions and maybe setting up for something good. not a lot of catalyst that you can see certainly ahead of year end. right after that i think it is a noisy period to figure out just how much of that rally into five weeks after the election used up good news. >> a lot of those companies and financials led the way were worst performers today. home depot and others were a little bit better on the upside. the question again is you have this huge wave as everybody has

joining me on the panel we have cnbc senior markets commentator michael santoli along with evan newmark and steve grasso will join us off the floor momentarily. mike, another mid day session. we start off quiet and then ramp into the close. >> it has been pretty relentless. that pattern where it opens in a quiet way but firm and below the surface is strong. i think every day we go up and every day longer that this rally persists is really more of a measure of how under exposed the stocks are or how defensive people were going into the phase. we have people who say i would rather own stocks than not. the market is running pretty hot. it has gone almost vertical. it is good that it is rotating around different groups. some leaders are different. you have to be aware that sentiment is building up and fear of missing out is driving things as much as it is sober. >> that is another theme. going back to what you are saying health care stocks down. pfizer were among best performers. it has had a great week and is one of the best performers on the dow. the major averages dow, s&p and nasdaq up

. >>> on today's panel we have cnbc michael santoli here along with dennis berman from the wall streetd since this morning. eight minutes before we -- half an hour before we opened we had donald trump's first tweet about boeing. then we had the thing with softbank. what kind of line would you draw between what happened with the administration and closing for the 11th record high. >> on a market wide basis it doesn't seem to be buffetting. but on name by name and stock by stock there is a sense of alert. if you do business with the governme government, if you are a big exporter i think that stuff will matter. when it comes to softbank announcement i think the rules are big round numbers. very few details. we are not sure how much is going to be implemented in terms of policy or corporate actions but it is something you have to be aware of. the market is only about a point below it. i think it makes a lot of sense. it reminds me of august. that might be a concern for pullback. >> a lot of people are saying it's the financials. they are two thirds of the whole thing. it is lop sided like

joining me on the panel we have cnbc senior markets commentator michael santoli.chief market strategist and co director of research tony dwyer is here along with cnbc fast money trader guy adami and rick santelli stays late to check in from the cme. it is a pleasure to have everybody here. what are your thoughts on the market? >> the dow up and most of the market took a rest today. if you look at the average s&p down about a half a percent. this is the kind of reset or pullback days we have had. it has been very mild. when the typical trump trade stuff, small caps, transports take a rest as they did today you had some of the yield sensitive defense doing okay. to me the big question is bigger picture is the market a little bit stretched to the upside. can we count on that late december strength and do we have to see sentiment come up. >> as art cashin indicated more than a billion dollars to buy. if a dip of 2.5 points on the s&p can bring out that interest do you think that is what is going on here? >> what happens is everybody has gotten bullish and corrections

now joining me on the panel today is cnbc senior markets commentator and pro columnist michael santoli. we have jim bianco, the president of bianco research joining us, steve leaseman, and cnbc fast money trader, tim seymo seymour. mike, people have been saying, did they miss the rally? can they get in? now we have a pullback. >> you have half a percentage to get in if you really care to. i do think, though, just the contacts. the stock market as we've been talking about lab stretched. it's sprinting higher almost without a break for a while. this is a pretty big excuse, i think. a big rally in the dow on the incremental turn by janet yellen makes a lot of sense you would back away. incompete i think a lot of investors didn't think they owned enough but now it's enough for now. >> the flip side of the stronger dollar, people usually say, well, you want the companies that don't have exposure. they certainly don't have it like the big cap. it does seem like this was kind of -- where they were sort of lumping everything together, it's a risk off-broadway kind of move. mr. bianco. >> i'm s

joining me cnbc commentator and columnist michael santoli, welcome with paul hickey.ve you with us, paul, as well. strategist here to kick things off with fast money trader. so it's a full house. glad to have everybody on board. what are your thoughts about this week. >> good to have you back. what we didn't see last week the market base taking a rest. it basically holding up near the highs, which i think is the main takeaway. after you had that big sprint, held on near the highs, most of the things are pretty supportive in general. first december off a little soft before you get a run. i think the market is in the zone where a lot of trends in place are okay until they turn to some bad level. but we're not there yet, whether interest rates or dollar or fed policy. all seems like we're in this comfortable zone where it can all be okay. >> you were saying the market seems younger. >> yes. >> aging backwards? is it benjamin button? >> almost seems like that, refreshed youth. come march, that's very old if you think it's been one continuous bull market. if you look at au

joining today's panel, michael santoli here along with stephanie link from tiaa global asset managementfor more on today's market action, "fast money" trader and cnbc market analyst, steve grasso will join us in just a moment. mike, what do you think? we almost got there. >> almost did. you know, in a vacuum, a 0.4% gain across the board, the average stock is up that much. it's the sixth week, mark, since the election. we've been going straight up. there's really nothing to assail about the market action, except it didn't go over this kind of arbitrary number. but it's interesting. you saw the market kind of approach it, flirt with it, and not a lot of buying urgency, but for three days, the market went really sideways and paused. and this seems to be that mid-december pause that everyone says gives way to the number one bias in the back half of the month. >> is it the pause that refreshes or is it a sign that as we lose momentum and get closer to that level that we're concerned about, whether we do, in fact, cross it. >> maybe it's a pause that refreshes at least until the end of the y

santoli at the new york stock exchange. >> so does this market have you trying to figure out what you should be doing with your money? if so, you're not alone. michael yar she cammy joins us to discuss the market and money moves you could make. he is the ceo of destination wealth management. good to see you, michael. welcome back. >> hi, sue. >> you think that caution is warranted at this point for a couple different reasons. tell us why. >> well, the first reason is i think we have had a pretty unbridle the enthusiastic market rally all based on what i believe are expectations, not just of what's happening currently in the economy, but expectations of stimulus, tax cuts, really a very rosie scenario going forward. and i think the legislative process is a bit messier than just proposals. so i think we need to be very, very careful to not get too excited. in fact, caterpillar just gave you an idea, one of the stocks rallied significantly this year. really driven a huge part of the dow rally. caterpillar itself came out with a press announcement, saying they actually didn't believe the rally. actually, it's going to be still challenging conditions for