Julian Naquin
@michaelsantolii
CNBC Senior Markets Commentator. Markets. Business. Baseball. Cranky New York parochialism.
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This weekend's @CNBCPro column with the setup for the week. More chop that "top" in the action so far in 2024... x.com/michaelsantoli…
The sideways index churn with payback below the surface for the all-in year-end rally was predictable, needed, likely unfinished. Still not much damage done. Do bull markets end with the S&P flat over two years, in an M&A/IPO drought? New @CNBCPro column. cnbc.com/2024/01/13/the…
cnbc.com
The stock market has cooled off to start 2024, but it's still checking most of the bull market boxes
Stocks have begun 2024 in a prolonged pause, the market digesting the two-month late-2023 surge with mostly benign sideways index action.
Chesapeake and Southwestern Energy agreed to merge today in a transaction valued at $7.4 billion dollars. @michaelsantoli drills into the numbers and says more deals could be coming in 2024. "The atmospheric conditions for a higher volume of M&A activity seem to be in place."
The sideways index churn with payback below the surface for the all-in year-end rally was predictable, needed, likely unfinished. Still not much damage done. Do bull markets end with the S&P flat over two years, in an M&A/IPO drought? New @CNBCPro column. cnbc.com/2024/01/13/the…
cnbc.com
The stock market has cooled off to start 2024, but it's still checking most of the bull market boxes
Stocks have begun 2024 in a prolonged pause, the market digesting the two-month late-2023 surge with mostly benign sideways index action.
It's a stocks vs. earnings showdown and @michaelsantoli is watching the rising tide closely. "On a 12-month basis, things are still falling into place," he says on the $SPX in relation to the forward 12-month EPS. He makes sense of the charts so you can focus on the cents.
You have to know the past to understand the present. @michaelsantoli takes a look at the S&P 500 circa 2009 to put the current market rally into perspective. "We're basically in the middle of this trend path that we've been in since right after the global financial crisis."
"There's an old trader's rule of thumb: you don't want to see the December low breached in the first part of a new year. So far, we're still pretty well clear of that," says @MichaelSantoli
"Healthcare seems like kind of a crowd favorite early in 2024," says @michaelsantoli, adding that the "large and amorphous" sector is a mix of growth and value. He takes to the charts to break down healthcare's performance relative to consumer staples.
HATS OFF TO THE 🐐 Today marked the end of arguably the greatest coaching run in NFL history as Bill Belichick ‘75 and the Patriots parted ways after serving as head coach for 24 seasons, winning 6 Super Bowls 🏆
99 problems and small-caps is one? @michaelsantoli examines the recent slump in the stocks with a two-year lookback at the interplay between Russell 2000 small-caps relative to the Nasdaq 100. "What you see is really deep depth... that was a severe multi-year underperformance."
In today's market dashboard @MichaelSantoli digs into the details of the December jobs report and what it says about the state of the economy #jobs #economy #inflation
In today's market dashboard @MichaelSantoli takes a look at the S&P 500 and what the recent pullback means for the market #Fed #disinflation #pivot
Are the odds in favor of a recovery in bonds? "From a long-term basis, how long bond investors have been underwater is pretty unique," says @michaelsantoli. He digs into bond values over the years and where they could be headed.
Chatting on @SquawkCNBC about $MSFT's new keyboard shortcut to AI copilot, I mentioned this clever Apple newspaper ad the day Windows 95 launched mocking mangled PC syntax. The hype around the 95 launch was wild - people lined up at midnight as with Harry Potter books year later.
The JOLTS report is out, which means it's a job for one man and one man only. @michaelsantoli takes a look under the hood of the labor market's supply and demand ahead of this week's jobless claims and Friday’s key jobs numbers.
It's a tale of two stories when it comes to the sharp pullback the markets are seeing of recently outperforming sectors levered to the economy. "One, we still have cyclical leadership in this market," says @michaelsantoli. "And two, maybe it got a bit ahead of itself."
Is a soft landing already priced into stocks? @MichaelSantoli digs into the charts
In today's market dashboard @MichaelSantoli looks at the S&P 500 on a two year basis - almost, but not quite, a complete roundtrip. Going above an old high after a year-plus underneath has historically been a positive for forward returns. $SPX
Everything broke right for markets to end 2023. Now? Don’t get caught up in supposed Fed-market disagreement on rate cuts or 2024 gains being “pulled forward” or “sideline cash” arguments. How to treat a possible Q1 pullback? Weekend @CNBCPro column. cnbc.com/2023/12/30/sto…
cnbc.com
Stocks end 2023 with a 4th-quarter rally and many soft landing converts. Breaking down the '24...
The S&P 500 closed 2023 up nine straight weeks and a 24% annual gain.
What matters most and least for markets after all went right to end 2023. Is the crowd too happy entering a New Year? The market being “ahead of the Fed’ on rate cuts? Not really a thing. But neither is “cash on the sidelines.” New @CNBCPro column. /cnbc.com/2023/12/30/sto…
cnbc.com
Stocks end 2023 with a 4th-quarter rally and many soft landing converts. Breaking down the '24...
The S&P 500 closed 2023 up nine straight weeks and a 24% annual gain.
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