Stocks @ Night: S&P 500 Posts Second Winning Day, What’s on the Radar for Tomorrow
CNBC TV’s producers are keeping a close eye on the market, and here’s what they’re watching as the S&P 500 posts a second winning day. Nvidia’s CEO is set to speak at CES in Las Vegas on Monday night, and CNBC’s Kristina Partsinevelos will cover the highlights on Tuesday. Nvidia shares are on a run, up 8.7% in a week and 11.3% in January, and up 204% in the past 12 months.
Jim Cramer and the “Mad Money” team did a great explainer on why semiconductors and software names are up, propelling the S&P 500 and Nasdaq while the bear hits health care, materials, energy, and consumer staples. Cramer pointed out that these important sectors are getting hit – in some cases, unfairly. Long-term rates are spiking, and the dividends aren’t offering protection as bond yields go higher. As bonds fall in price, their yields go up, hurting dividend stocks even if there’s nothing wrong at the companies.
Other stocks that caught Cramer’s attention include Procter & Gamble, Colgate-Palmolive, Clorox, Humana, HCA, Cigna, and Centene. He also highlighted big drops for biotech stocks like Vertex, Regeneron, Amgen, and Moderna, as well as food sector companies like Hormel, Hershey, Mondelez, General Mills, and Smucker.
SiriusXM’s CEO Jennifer Witz will be on “Closing Bell: Overtime” with Morgan Brennan and Jon Fortt on Tuesday. The company’s shares are down 18.3% in a month, but up 3.4% on Monday.
Cal-Maine Foods reports its quarterly numbers on Tuesday, and the egg producer’s shares are 8% from the Dec. 16 high. The stock is up 2.7% in a week and 5.6% in a month.
In other news, Canada Prime Minister Justin Trudeau announced on Monday that he will be stepping down. The iShares MSCI Canada ETF (EWC) is 6% from the December high.
CNBC’s Tom Rotunno is watching live cattle futures, which hit an all-time high on Monday amid super cold weather. Live cattle is up 15% in a year. Brazil’s JBS, known as the largest meat processor in the world, trades in the U.S. under the ticker JBSAY. Shares are 16% off the August high, down about 8% in a month.
The iShares MSCI South Korea ETF (EWY) is up about 7% in January, while the iShares MSCI Mexico ETF (EWW) is up nearly 3% in a week. The iShares MSCI Eurozone ETF (EZU) is up 1.7% in January, and the iShares MSCI China ETF (MCHI) is down more than 2% in January.
Shipping ahead of a possible shipping strike, CNBC’s Lori Ann Larocco reports that representatives from the International Longshoremen’s Association and the USMX port ownership group had secret meetings over the weekend. The Baltic Dry Index, which tracks the cost of shipping widely used commodities across the sea, is up 7.5% in January but 55% from the March high.
