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that's golo.com. >>> mike santoli at the table with us.nd of the week, what's on your mind? >> there's some sense in which there's strength, a bid in the market can seem like a victory lap. told us what we were hoping to hear and what we expected to hear. i think if you dial it back, the market has set itself up. it's hard to find real flies in the ointment. as treasury yields have crashed, credit spreads have been going down. the cost of capital is going down. the s&p at the same place it was two years ago. on the other side, it's just tough to really quibble that much except when you see a little sign of, you know, margin pressure, when you see maybe some consumer fatigue, how much are we going to stamp down economic growth if at all. those questions will hang over this market for a while. i don't think we're precariously purchased. >> fedex and nike not enough yet to throw anything overboard. >> i think that's the way to think about it. i'm looking at things like overall discretionary performance relative to staples. overall higher beta

well protected. >>> mike santoli is here with me at the desk, our senior markets commentator.the market activity today is suggesting that we really didn't get much to swing anything either way. the unemployment rate falls but annual wage growth is the slowest since '21. inflation expectations dropped by a lot but jobs were hotter >> all the preceding data led us up to this point, i think, to expect moderating growth adjusted for the strike effect on payrolls, and still resilient activity in general. so it's healthy but slowing, and i think the market was around that spot. what's interesting to me is yields seem poised to bounce no matter what. >> sure. >> they're bouncing a little bit, still in a comfortable range, and oil doing the same thing. so a lot of the easing of financial conditions that disinflationary push that help stocks get up to the july highs, maybe it's just getting to the extent of what that will give you for the moment and then it's about what's next. and so it's a very calm response i think the market can be relaxed here maybe we'll have to go in search of s

senior markets commentator mike santoli at the desk for a conversation now. 4.24 is the ten year. >> ten year. we're getting a little bit too close not to at least try, fewer and fewer reasons to fight the soft landing outcome, at least in the short term. we were here in july, keep pointing this out. not just the levels but the full embrace of the soft landing scenario. we do have gasoline prices down 60 cents in a couple months. people aren't talking about that. and you'll probably see a rapid response to the yield move in things like mortgages. all that stuff i think people are trying to handicap that we're headed for. >> are we having a mic problem? are we good? can everybody hear what mike was saying? yes? okay. just wanted to they can. >> sorry. >> having a little fix as were you talking. i wanted to make sure our viewers could hear that and nothing new from powell today. >> no. >> there was a momentary pullback in the market that corrected itself reasonably quickly. >> i saw the first headline, this could be taken hawkish. >> for sure. there was definitely a way and maybe it wa

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. ♪ ♪ ♪ >>> more now the closing bel market zone, the nbc senio market commentator, mike santoli, hereucial moments of the day plus, our h is closely mission how can impact the retail an housing trade. >>> k rooney with a look a what retail flows this wee might be signaling >>> mike santoli, you first, new 52 week high snp, we hav our ramp as we get to this final stretch? >> everybody seem to be able t see clear toward this bat to a soft landing, we got reinforcement for. a little more affirmatio doesn't hurt the market response today to somewhat moderating labo market, strains but also wit this disinflationary forces in everyone's mind it is enough t keep the seasonal trends intact we've been going sideways fo three weeks, it's not that aggressive as buying stamped in the market really is grind. but yeah, good enough for ne highs, the next thing to loo for is anything that disturb this assumption that we have that goldilocks type numbers out there. inflation next week and all th rest of it but for now, it seems as if we broadened enough that it's not just a handful of stocks wer talki

i'm brian sullivan with leslie picker and mike santoli.re show, is off today. and tomorrow. >> we're here. >> but we are here. i'm glad to see you. how are you, leslie? >> it is fun. >> it is funnish. >> i'm glad to see you too. >> it rained last night. times square is glistening and shiny. >> ready for that ball drop. >> i am annoyed. i know they're cleaning it up for new year's eve, they're getting everybody out of here, but my guy, the lovely egyptian dude that works the coffee cart here, it chased him off. i guess for security reasons, but if you're out there i miss you, come back. >> maybe he's enjoying a well deserved break as well. >> he was here yesterday. i don't think so. but i don't know. anyway, it is amazing. times square has changed a lot in the last 24 hours. >> spiff it up, get it ready, this is the super bowl for the times square people. i know somebody who used to run the whole program, the entire year is built around -- >> the entire year. >> there was a post article about how applebies is selling seats for $760. >> what

. >>> senior markets commentator mike santoli is at the desk.u thought, okay, fedex may be the thing that mae gives you a crack for a day, well, maybe for a minute it looked like it could be. not now. >> this market is willing to tie things off when you have the weight of the evidence that's built up, that suggests things are otherwise okay. we've known freight was an issue for the economy, it wasn't looking great. fedex has had execution issues. you can cause a rationalization for why it doesn't matter. the bigger thing is the whole relentlessness of the rally getting so much attention. so it's that kind of moment in the rally when if you're a little bit cautious because we've gone too far, you will still give the market credit for getting even more stretched f. you're bearish, you're afraid to stand in the way. it kind of grinds higher and does its own thing until it gets to further extremes. they're broad, modest index moves. final days of the year rally, but probably not too much consequence. >> it's what we keep watching because when it loo

learn more at viking.com. ♪ ♪ ♪ >> we're seeing your markets commentator mike santoli this midday.ing, michael, about the setup being more favorable. >> i would say more favorable than it was the last time we were at these level in the s&p in late july. back then, i think there were a lot of things stacked up that seem like it would present a challenge and said it at the time, both because of investor positioning and sentiment got over excited and the belief in the soft landing scenario left room for disappointment and we obviously hit that yield shock, as well and then the final push from geopolitics it sort of turned what should have been a 3% to 5%pullback into something deeper. earnings estimates are higher, at least 2024 looking like kind of tilted in the right direction. yields have clearly, i mean, at least pretty clearly for the moment although they're leaking higher today. finally, you're also seeing as you guys have been talking about it's more rotating than retreating and every excuse to pullback and the market's definitely overbought instead of wholesale selling you're

mike santoli joins us with his "midday word." i have to know, every day you wore a tie, the markets rallied. today you come business casual -- >> listen this is good as a lot of the almanac stuff. we have to have a control on this experience one day next year i won't wear a tie. i won't tell you when. we obviously have hesitation here. even jeopardizing perhaps the ninth straight up week for the s&p 500 which is an odd ball extreme persistent rally. the big question going into next year can we sort of extrapolate what we've seen the last couple of months in this recovery rally, in the broadening of the market, in yields being really benign. i think there's a big question about what has specifically been driving the buying binge in treasuries? has it been this huge rebalancing move? people were short bonds, under invested, and how long do we want to see bond yields go? there's an argument to be made a lot lower on the ten year. way below 3.75. not just a benign fed and lower inflation but maybe the economy struggles. >> a bit of a

mike santoli joins us now with his midday word.might have to be centimeters, i don't know what they do in europe, but we're close to a fresh record high on the s&p. >> if you were a holder of the s&p 500 and you just reinvested those dividends, you're already at a record high in your portfolio. so we're a whisper away from it. the question is, how do you interpret it? it's one of the longer stretches between record high, close to 500 trading days that we have had in recent decades. so that's something that says, you know, usually the market is reawakening from a shock or a setback or something like that. and buying record highs historically is not necessarily usually immediate cause of buyer's remorse, because trending markets continue to trend. i do think you'll get a gut check from one direction or the other as people get complacent about the soft landing scenario. but for now, it's something that you can acknowledge. we have waited a long time for, the market has answered a lot of the complaints we had through the summer. it's t

our senior markets commentator mike santoli is on the desk for his "midday word."a huge meal in november. we've gone through this dige digestion, thought we were still full. someone put a beautiful piece of ai cake in front of us and we couldn't resist. >> and there is always something idiosyncratic to get the market moving again. saying earlier 13 straight sessions if today is including and yet within it the average stock is doing better. we got used to this idea it's either a market cap or russell day. you can see the market kind of unsure if we have the horses at this level to really carry us ahead, maybe just waiting for the jobs number tomorrow to be absolutely perfect like every other number this week has been to see. it remind me -- i was looking back when we've gone flat after a rally like this for a long period of time and it did happen in the spring after we got the huge lift off the svb low and people thought the fed would be easy. it was almost two months of kind of shopping around before it did resolve higher. >> energy just can't get out of its own wa

mike santoli, thank you. carl >>> as you said, markets are turning around after that higher than expected november payroll number and the drop in unemployment this morning, four of my month low. that caused a move up in the ten-year as investors worry about higher for longer. joining us at goldman sachs trading floor is head of global banking and markets. thanks for having us, for hosting us it's great to have you >> thanks for coming down here and not making me come to the studio. >> it's a long walk. let's talk about the batch of data not just the jobs but what we got from jolts earlier in the week is the market right to second guess some of these? >> i think it's goldilocks if you're sitting there and you're the federal reserve and look at the pace of incoming data, you're getting kind of what you wanted. which is certainly job openings are coming down but you still have job creation. so growth will continue to hang in there because the u.s. economy is continuing to create jobs but that's happening at a ti

our senior markets commentator, mike santoli, joining us with his "midday word."an't wait to hear what it is today, michael. >> we have the no pain, big gain trade on. it seems everyone has decided there isn't going to be really a dangerous tradeoff between what we can expect in terms of easier financial conditions and economic growth. that's the view from today. on one hand, you take it in short bites. the big indexes are looking pretty extended on a very short-term basis. seems like we've had this culmination moment where all the things you have asked for has more or less been delivered. the market is up, the s&p up 3% from the high on december 1st. flat over a two-year basis. as you have been discussing, so many things below the very top of the index have just done nothing or worse for a long period of time. a bank of america, home depot type of upside leadership day as opposed to a microsoft and lily. so that can probably work its way through for a little while right here, and the dollar is in free fall. everything is falling into line. something always comes

that's 1-800-217-3217. >>> we'reback with mike santoli, joins us now. what you're thinking about. >> normally this is the time in the fed cycle, the market usually pulls itself in a neutral spot going into the meeting. it doesn't want to necessarily be leaning one way. hard to make the case. it's grinding higher, at a 20-month high. s&p futures at 4700 and the ten year back on its lows again. clearly the buildup of data going into this meeting and this decision has been so strong that it's led to a level of confidence that we're going to get what we want. there could be a seller response. mainly because we look at the numbers, are we going to pay more attention to earnings guidance and fourth quarter numbers are sliding a bit. >> do you want to comment on that? the sell on the news idea that mike puts forth. >> do you believe the federal reserve concerns itself on where markets are because we've heard so much about the markets moving so significantly since the last meeting. >> the stock market at a level where it was two years ago. we've had no ipos. al

cnbc senior markets commentator mike santoli here to break down the crucial moments of the day. has the november sales day tay for automakers out. and julia boorstin how paramount shares are higher. mike, you came on the air at 3:00 and yields continued to move lower and not a surprise, stocks are at the highs of the session here. >> it is getting a little bit extended on the yield side, in terms of the magnitude and the speed of the moves but it is also reinforcing. there is a little bit of indication of some surrender out there. i mean if you look at the 2.5% pop, or better, in the russell 2000, and you can see all of laggard groups, it looks like forced rotation. people are basically running out of reasons to fight this idea. and i think a point to keep in mind, if you came in to this year or let's say six months ago, and you said i'm going to hang in there, the fed is just about done, and you know, inflation is on the way down, and it should be supportive, and earnings will turn for the better, you have been right, but along the way, you have overshot. so i'm not saying we ha

mike santoli, i turn to you first.he end of the day and the dow. >> wasn't much of a pullback at, all markets can tendering to address much of the complaints about it. the breadth problem is essentially fixed in the sense that the advance decline line has made a new high, you are seeing it again today. even though there are more nasdaq stocks up than down today. even though the nasdaq has been taking it on the chin, down close to 2% today. >> that is probably why eric jackson was talking about it. because they're down today and that is a weight with respect to microsoft and, apples for salesforce in there to. >> running from mega cap to small, or from crowded to neglected, from arguably expensive or bulletproof growth to more cyclical and less expensive. we'll see how long it lasts. this is the absolutely perfect way for the market to digest this move, if that's what we're going to be doing down the road. obviously, i think there is also a history of early december being a little bit choppier, sleepy. and then you see

mike santoli, it sounds like rates across the border down today.the right direction, some of the other economic data was strong. and the tenure got a little bit of a bump. maybe four or five basis points today. >> i think that most of the pc numbers today were largely expected. they were anticipated. definitely kind of validated the view that pce is pretty close to target, but not a lot of incremental moves that you are going to do in terms of buying bonds because of it. at this point, we have a lot of supply coming in next year. so, i mean, next week. i do think that we have reached a level here where if you get below 375, you will get questions of what does that mean for the economy, consumer stress, people are trying to stretch their buying powers. so we will see if that comes to pass. >> the rally is technically is supposed to start today. the data look like it will give a little bit, and we will see what happens on the other side of the holiday on dot, merry christmas to those who celebrate. i will see you all on the other side. there is the b

bring in senior markets commentator mike santoli.eraged or reliant on the financing markets for future growth and/or just keeping their business going are benefitting today. what else are you seeing? >> yeah. david it pushes off the day of reckoning if there was going to be one for highly leveraged companies. it probably puts a little refinancing, refresh cycle out there. going to stoke a push of housing demand as well, mortgage rates crashing. all those things under way. i think what the market reaction did is, it basically set the don't fight the fed and fight the tape rules in sync to say, you know, that we have this really pretty impressive bullish uptrend, breakout in the indexes, and mostly, not just because, you know, the market is craving and pushing for lower fed funds rate down the road, but because powell explicitly tried to further delink fed policy in the short term from what the economy has to do to get us there, right. the fed doesn't need to feel like it needs to really kneecall the economy to get the -- kneecap the e

i'm bertha coom i'm becky quick along with andrew ross sorkin and mike santoli. joe is out today.at what is happening with the u.s. equities at this hour. you will see the dow is indicated up by triple digits. a gain of 105 after all of the gains yesterday. s&p indicate up 13. nasdaq indicated up by 67. that comes after the dow jumped to the record in yesterday's session. up 512 points for a gain of 1.4%. s&

i'm becky quick with mike santoli. andrew is joining us from d.c. >> hello. it is snowing here. >> is it really? >> yeah. >> it's raining here. good weather up and down the east coast, i guess you could say. it is 41 degrees. no threat of snow here yet. just lots of pretty rain. joe is out today. mike is here. mike, great to see you. >> great to see you. >> folks, of all of the things you may notice today is our screen looks different. this is part of the big new look across all of cnbc. some information that you are used to looking for is in a different place on the screen. over time, we hope it will make it easier for you to understand the market and stories we are br bringing you. in the meantime, we will leave some things on the screen longer. we are looking for things to flip around. we hope to make it a cleaner look and easier to navigate. it may take patience on your part and ours. >>> we will call for the u.s. equities and see where this is right now. equities in the red as you can see. s&p futures off by two points. dow down by two points. nasdaq off

i'm andrew ross sorkin with becky quick and mike santoli.d only "squawk box," show you the futures right now, this morning. you do have some green arrows after a lot of green yesterday. we're still on that high, dow jones looks like it opened u809 points higher. treasuries all based on, well, i don't want to say all based, a lot based on where jay powell things are going as we flip it around. ten-year note down to 3.962 and the two-year at 4.332. so, big moves in the equity market and bond market this morning. >> also a global move -- bank of england, the interest rate decision, holding steady. the vote was 6-3. this was as expected, although there was some sense out there that maybe there is going to be pressure building for the bank of england to ease as well. so, did not do so, third straight meeting, just like the fed paused three straight meetings in a row. >>> well, big news driving markets yesterday and this morning. the federal reserve signaling it would cut rates perhaps several times next year. steve liesman joins us now with more

i'm becky quick with mike santoli. andrew is joining us from d.c. >> hello.ere. >> is it really? >> yeah. >> it's raining here. good weather up and down the east coast, i guess you could say. it is 41 degrees. no threat of snow here yet. just lots of pretty rain. joe is out today. mike is here. mike, great to see you. >> great to see you. >> folks, of all of the things you may notice today is our screen looks different. this is part of the big ne

i'm mike santoli along with brian sullivan. you see the futures indicated with the slight gain.rday closed at an all-time high. up 13% for the year. the nasdaq is up 44% this year on track for the best year since 2003. the s&p is inches closer to the all-time high under the 44,800 level. >>> and to the treasuries, they started the ten-year yield at 3.81. guys, i really feel as if you have to look a

i'm sara eisen with mike santoli from post 9 of the new york stock exchange. >>> td cowen president jeff solomon on why he thinks the fed should hike another 25 basis points next week. >>> and torsten stock. >>> and the story we've been waiting for, swiftswiftnomics. a true reach of taylor's web and the billions it's generating. >>> our first look at the market. the s&p 500 up almost three-quarters of 1%. a lot is alphabet and amazon getting a good lift. the dow is basically flat. the russell 2000 up about 0.50%. treasury yields, sara, kind of getting some traction here. and we've rallied a lot, 4.15 is where the ten-year is sitting. you were talking about the pretty benign jobless claims number that disturbed the system. and i think it's fair to ask if we're going to maybe hit a near-term floor in yields. i've seen a lot of work that says they're oversold. we'll see what the jobs number has for us tomorrow. >> i think the key would be weakening data could add fuel to the treasury rally. and increasing talk that the fed is okay with looser financial conditions. which is what we got from

. >>> mike santoli here with his midday word.the cpi tomorrow and then the fed decision, and we will just be hanging around until that happens. >> yeah, makes sense. you had large stocks that were weaker for the mechanical reason, and the rebalancing takes weight off the other stocks, and it's not a bad thing where you sit around and watching where yields head to. they are migrating higher, 4.25. we will see what the auction brings us at 1:00 p.m. i think short of 435 where they broke down from, maybe that's okay, and they are waiting for cpi to see if we are more comfortable -- >> the new york fed expectations on inflation was going the right way, and from one report to the next, it seems to be going in the right direction. >> nothing disturbed the premise of the soft landing. the numbers matter more than anything else, but everybody is really confident, i think getting confident, that the lagging affects of the certain categories will give you a cushion for a little while. powell can characterize that however he wants. >> yeah.

could delay the central bank's ultimate pivot to declining joining us now for more along with mike santoli is rachel, senior investment officer at cape cod 5 wealth. welcome. good to have you with us rachel and mike as well. the market seems to have broadened out a little bit. it's not just the gnificent 7 anymore. i take it you would see that as a positive, wouldn't you, rachel? >> yes, tyler, and thank you for having me and happy holidays to everyone. it definitely looks as if this broadening is providing that powerful, positive feeling that perhaps the market will sustain blue broaden. broaden. we're seeing it on many different angles. you're seeing 7 out of 11 sectors having really strong positive upsides with their 50 day moving averages being extremely high. you're also seeing confirmation from not just technology, but you're seeing some tradeoff there where technology continues to do well, but you're also seeing a leg up in some of the othesectors as well. so that broaning does bode well for us as we move into 2024 as long as that can continue. >> mike, i want to turn back to what d

i'm sara eisen with mike santoli live from the floor of the new york stock exchange.treet debates the pause in the rally and the timing of the first fed cut. chief market strategist is here on why it's hard to argue for any move before march. >>> hall of fame retail analyst matt boss from jpmorgan, his big es headline from this holiday shopping season so far. >>>could a rise in sports betting lead to a rise in the housing market. >>> s&p 500 marginally positive. the nasdaq recovering after a couple of weaker days. up about two-thirds of 1%. there had been rotation in prior days in favor of smaller caps and nontech stocks. that seems to be partially reversing today. topping the tape this morning, the disagreement about the path of the economy and what's next for the fed. are investors right to expect and hope for rate cuts? steve liesman is with us to go through this debate. hey, steve. >> hey, mike, good morning. yeah, it's getting kind of serious, this growing disagreement between the market and the fed. if you take a look at the probabilities, first of all, we're sh

i'm sara eisen with mike santoli. we're continuing to monitor the bank ceo hearings and we'll bring you the latest headlines as they happen. in the meantime, here's what else is ahead this hour. lots more from the ceo of walmart, doug mcmillan, exclusively. his take on the jobs market, pricing, and the rise of weight loss drugs. >> plus, the ceo of campbell soup is with us. how does ceo mark klaus plan to turn around a stock that has underperformed the ceo 500. >> and omar agular breaks down why the fed has enough support now to end its tightening cycle. >> but first, the markets, large-cap indexes, modest gains. the s&p 500 a bit off its highs. nasdaq off a quarter of a percentage point, although, sarah, another one of those days where the average stocks doing a lot better. yesterday was a pause. bank stocks, as the ceos testify on capitol hill, up more than 2% as a group. migrating back into more cyclical areas of the market. and it seems like we keep feeding on economic data points that seem to validate the soft la

to bring in more, mike santoli. i'm not sure i like the phrasing of that question. the rallying must end. eventually all rallies do. it suggests it will end soon. that is by no means assured. >> i'm with, you tyler. you don't necessarily -- you don't have to treat record highs, assuming we get there within a few points relatively soon in the s&p 500 as indication to say when this is going to be over. obviously, difficult to project either way. either way around, it's amazingly symmetrical. almost exactly two years ago, write down 25%, in ten months, up 33% in the s&p 500. over 14 months. it is remarkable that two months ago, it was plausible to say that i am not sure this is really a bull market. i'm not really sure that we have a significant run in october of 2022, just because it was such a narrow market and was not operating the way that it should. bank shots were down from that point, never happened before. it has been a little bit of a rescue of this idea that it is a home market of some description. even if it ended very soon, you would call it a brief bull ma

cnbc senior market commentator mike santoli, here to break down the crucial moments of this trading days higher. kristina personnel is joining us with the numbers to watch as oracle earnings -- mike, with you, a pivotal couple name days coming up. starting with cbi in the morning. >> yet, the street is pretty constable with white might come. some justified confidence that the disinflationary trend is pretty well entrenched, about to get some confirmation tomorrow. and it has not there's been enough evidence that makes you can write it off as a little bit of a fluky number. very similar to friday where we just patti domm chop around and do nothing in the morning, then right after midday, just hop on the escalator for lack of a reason not to. i really couldn't find much else. it's getting a little bit, again, just technically over broad. just look at the rate of change stuff. we are clicking around the 20% year today daniel burn the s&p 500 and this is happening on a day when the very largest starts are for sale. this index re-waiting in the nasdaq. all to the good, i think the only thing

. >> all right, thanks, guys happy new year welcome to closing bell, i'm mike santoli in for scott -- this make or break our begin with a quiet close to a boomin year on wall street. the benchmark s&p 500 wavering just below a record high sitting on a near 25% gain wit an hour of trading left in 2023 the index still has a chance a a ninth straight winning week. a rare display of persistent strength for stocks, even as the small cap -- slips giving up about 1% on th day,, after a gripping 25% surge since november 1st almost everything went right for the markets in the fourt quarter. oil, inflation, and bond yield all falling. unemployment stayed near historic lows. in the fed hinted at polic easing ahead which brings us to a talk of the tape have investors been over serve with bullish news heading into a new year raising the risk of a let down in january or can the rolling celebration of unexpected soft economi landing carry on from here here to help us, into thos questions is charles schwab, kevin gordon, kevin, good to see you. they should come in. >> mike, thanks revenue. >> there i

let's now bring in mike santoli to try to explain what exactly happened and what it means for this rally, from here on out. there were folks out there, mike, who had already said that there was a bit of euphoria in the markets overall. this is maybe a bit of a sell-off to remind people that markets and google lower. but we have heard all kinds of theories, including stuff about the options market as well. so, what gave? >> yeah, plenty of things, dame, can be valid at once, which is when i was here 24 hours ago, i didn't say we're going to go down a percent and a half in the next 90 minutes or whatever it was. but you did see the initial conditions where everybody, bull and bear alike, would say the market was due for arrests. the best 36 again in the s&p 500 in quite a number of years. maybe the top 1% of all gains over that period of time. all those streaks, seven straight, you know? up weeks. all the rest of it kind of getting the market into a little bit of a twisted position where it's more reliant on short term money. it's getting and staying over bought and then you did kind of cr

mike santoly, as always, we're going to stick around of course. that bell marks a new high.oing to close above 37,000 for the first time ever. i'll see you tomorrow into o.t. with morgan and john. >>> closing a session high, record close with the dow industrials hitting 37,000 for the first time ever after a fed policy pivot. new two-week highs. s&p finishing right above 4700. that is the score card on wall street. but the action is just getting started. welcome to closing bell over time. >> we have reaction to the fed and the market's big rally. we are going to talk

. >> all right, thanks, guys happy new year welcome to closing bell, i'm mike santoli in for scott --ak our begin with a quiet close to a boomin year on wall street. the benchmark s&p 500 wavering just below a record high sitting on a near 25% gain wit an hour of trading left in 2023 the index still has a chance a a ninth straight winning week. a rare display of persistent strength for stocks, even as the small cap -- slips giving up about 1% on th day,, after a grip

over to senior markets correspondent mike santoli. what are you watching?rsistent and steep brought us basically back to the all-time highs. about a percent short where e we were also two years ago, beginning january 2022. just above 4800, intradahi. make this? go dn 25%. then up 33%. where we are right now. you can say we fell right off the cliff in january of 2022 fr that 4800 level. i argue the u.s. company is 15% bigger since. earnings traing 10 to 12% higher than back then anstock market has gone nowhere in two years. usually means yot quite yet over our skis at least in marketing positioning beyond the short term. riskier stocks starting to overtake quality so-called stocked year-to-date data. fastish moving stocks in the s 500 now outperforming this quality etf. basilly whe lot of peormanchas been this year, because a lot of those big, highly predictivelhighly profitable tech stocks are in that type of a factor basket, as they call it. you can see noa big comeback. also at those highs at the july highs. keep that in mind, too, trying to break through

i'm sara eisen with mike santoli live from the floor of the new york stock exchange. the rally and the timing of the firs

i'm sara eisen with mike santoli from post 9 of the new york stock exchange. >>> td cowen president jeffould hike another 25 basis points next week. >>> and

i'm carl quintanilla with leslie picker, mike santoli, live at post nine of the new york stock exchange stocks off five straight weekly wins. longest stretch for the dow in about two years and the s&p tantalizingly close to a 20% year to date gain. fed is in a blackout so we'll get data this week. jobs number on friday. got conferences going on as well as some investor updates from companies like spotify, mcdonald's and j&j. >> while the markets are wait and see mode, companies are not holding back on headlines. 30 minutes into the trading session. three big movers. shares of spotify, the music streaming service planning to lay off 17% of its global workforce around 1500 workers in order to cut costs. it's the company's third round of layoffs this year, sending shares up about 10.4% currently on that news. alaska air agreeing to buy hawaiian airlines in a deal worth $1.9 billion. it works out to be about $18 per share for hawaiian plus debt, that's a huge, huge premium for hawaiian, which closed at just under $5 a share on friday. so you can see shares of hawaiian up about 189%. the ceo

i'm leslie picker along with mike santoli and brian sullivan. joe, becky and andrew are off today.s. equity futures this hour not much movement. s&p and dow still hanging in there in the green. nasdaq implied to open in the red. about five points lower there. treasuries, selling off as well. yields higher across the board. ten year currently at about 3 point 9%. energy prices, crude in the green again today after having sold off about 10% year-to-date. natural gas, leaving little pressure there. down about 0.08% currently. check out on bitcoin as well. up about 0 p.9% but year-to-dat gains 160%. much of that baking in potential approval for bitcoin etf, which generated a lot of hype in the segment this year. >> for sure. >>> nvidia, one of the biggest stocks stories of the year creating hype and excitement. frank holland with a look at chipmaker as part of today's "morning movers" good morning. >> happy new year. nvidia moving higher on a game chip in china with export controls. rts 4090d slower to follow regulations. and placed on a list of u.s.-made chips that could not be sent t

mike santoli, what are you watching this morning, and can you say it three times fast? >> no.s and everything over there, all t whatm i looking at obously u cited it, wh a strongonth iwas for stocks. at i fd part interting to the s&p 500literally heip sa level yesterday we closed two years ago. about a 1.2%eturn om dember 2nd of 2021. 19% upside in the s&p 50 wiout dividends is aoundtrip last year.entially a recovy of 1.5%lessreasury yids on h holdrates nearero. th is about when the fed started to hike. intere rates have been a huge part of the story. th've undeined lots of parts of the market, but they're not the entire story. the economy keeps growing and earnings keep moving ahead. i was poinng out this echo we fl out of tt th in the r. st cup molls and he now revered, not saying we'r heading straight to 4,800 on jaary 2nd,here we were t yes ago today. but here's t dow. it's performed closer to its all-time high, and also at a -week high. when it outperforms in phases, it doesn't go down as much as the other indexes in seloff, outpformedhe s&p00, fewer of the huge tech stoc

let's get right to our senior markets commentator mike santoli.ht of the week weighing on what happens today at 8:30. we'll see, but there is a lot riding on so many things within this jobs report >> becky, plenty of anticipation markets kind of gotten coiled up tight in advance of that now, we've been hesitating better part of three weeks in the s&p 500 right below those july highs actually, really steady way to, sort of digest the big rally from november. this flattened us out. somewhat like we saw in the spring big comeback off the silicon valley bank correction and eventually resolved to the up side needing off a lot of data suggesting moderating, healthy economic growth. disinflation maybe giving the fed a little room for flexibility and go easier next year without necessarily having to rescue the economy. look at the evidence of a resilient consumer alongside relaxed, or really plunging now gasoline prices. so consumer discretionary stocks equal weight and outperforming gasoline one of the major tenants of course, 30-year fixed mortgages dow

mike santoli has a few charts to watch. . what happened after the july highs, we had a correction over the course of three months due to a lot of factors. not just because the market gotten ahead of itself. we have traveled as far, about 12% gain from here at the late october lows. as we did over two months. so about five weeks we did what we did in two months to the same level back then. earnings estimates are higher, valuations are a bit lower. what's going on now as we digest a little more rotation into the laggards, the russell 2000 futures are up today and some pressure on the megacaps. that was the case really into last friday for about six or seven trading sessions just going sideways and rotating within. so we'll see even though we're due to probably have some kind of pause or pullback here, it's coming from a decent position with yields being pretty tame. take a look at the more aggressive parts of the s&p 500, the high beta sector, sphb is the etf. you see it's catching up to the quality factor etf, stable, very pr

santoli with his "midday word" next. ♪ explore endless design possibilities. to find your personal style. endless hardie® siding colors. textures and styles. it's possible. with james hardie™. ♪ ♪ >>> we're back. mikek. do you still like we're still a little wobbly after what happened yesterday? it feels it, right? >> yeah. obviously not bad to have no direct immediate followthrough to the downside today. but volatility markets haven't calmed down at all. that was a little bit of a foreboding we got ahead of yesterday's air pocket. people getting and were maneuvering for a little bit of turbulence, and we talked about last night the vix making new lows, the s&p making new highs. so nothing has disturbed the underlying story. the gdp revisions right in line with what you want to see. it's more of a matter of people have largely used the fuel of the embrace of a soft landing, and there's not that many more people to convince about it. >> i feel like if we look at the market in an hour from now, if it's red i won't be surprised. it has that tone to it. >> it had been locked into these tracks that were sort of extending from an overbought level and adding and adding and adding in a grinding way. once y