Stocks @ Night: What to Watch on Tuesday
As the final trading session of 2024 gets underway, here’s what CNBC TV’s producers were watching on Monday:
* Natural Gas Surges: The commodity jumped 20% ahead of a predicted cold snap next week, with the Southeast and Midwest expected to be hit hardest. Power prices are also volatile, with Europe a concern after Gazprom announced it would cut off supplies to Moldova.
* Nat Gas Stocks Rally: Antero Resources, EQT, Energy Transfer, and Cheniere all saw gains, with Antero up 6.7% and EQT up 5%.
* Apple Shares Pull Back: AAPL fell 1.3% to $252.20, still 3% from its last week’s high. The company needs to reach $264.63 to cross the $4 trillion market cap level.
* Insurance in the USA: Progressive shares are up 50% year to date, with the industry trying to prevent catastrophes to reduce risks, payouts, and premiums.
* Market Wrap: The Nasdaq Composite is up 29.8% in 2024, while the S&P 500 is up 24%. The Dow is up 13%, and the Russell 2000 is up 9.9%.
* REITs: CNBC TV’s Diana Olick will report on the real estate investment trust sector on Tuesday, with Community Healthcare Trust and Macerich seeing gains, while communication REITs and office REITs are down.
