A pedestrian wearing a protective mask passes in front of the New York Stock Exchange in New York, Sept. 14, 2020.This is the daily notebook of Mike Santoli, CNBC's senior markets commentator, with ideas about trends, stocks and market statistics.
Asking the market what it's upset about today and you'll get the answer Marlon Brando's biker-gang leader gave in "The Wild One" when asked what he was rebelling against: "What do you got?" All the pressure points are right in the headlines – Europe Covid curve/lockdown fears, fears of a fall/winter without further fiscal help, Microsoft lowering guidance on softer IT spending, an impending election sapping risk appetites. Taken together they drain investors' ability/willingness to look across the economic valley to the cyclical snapback, pushing off the likely start date of "Back to normal" time.
Pro Here's what's behind the sell-off, too many inexperienced morons in the market from all walks of life, including the newbies, the analysts, the 'pro's, the pompous hedge fund managers, and CNBC commentators who act like racetrack touts. I fart in all your faces.
Pro scared of a Biden as POTUS
Pro Mmmm Biden ? Or Biden Time to bail
Pro CNBC IS
ClosingBell Pro