What’s likely to move the market in the next trading session
Stocks @ Night is a daily newsletter delivered after hours, giving you a first look at tomorrow and a last look at today. Sign up for free to receive it directly in your inbox. Here’s what CNBC TV’s producers were watching as stocks closed lower on Monday and what will be on the radar as the final trading session of 2024 gets underway on Tuesday. Nat gas surges on frigid forecast The commodity was up as much as 20% on Monday, ahead of what many think will be a serious cold snap next week. The Weather Co.’s Dan Leonard — I like to call him “Wall Street’s Weather Man” — said the Southeast and Midwest will be hit hardest. He believes Texas and Oklahoma will be right on the border of a major freeze. (You’ll recall Texas fared very poorly in 2021 during a deep freeze.) Power prices, according to Leonard, are also a major focal point of traders right now, with both power prices and natural gas very volatile at the moment. Europe is also an area of some concern after Gazprom said it would cut off supplies to Moldova starting Wednesday, but the experts say today’s jump was pretty much due to weather concerns in the U.S. Nat gas stocks rally Antero Resources picked up 6.7% today. The stock is 2% from its June high. EQT was up 5% today. It is 3% from its Nov. 21 high. Energy Transfer and Cheniere were up slightly more than 1% each. Energy Transfer is 2% from its November high. Cheniere is 7% from its Dec. 5 high. Apple shares pull back AAPL 3M mountain Apple shares over the past three months CNBC TV’s Steve Kovach will report on two key issues for Apple in the year ahead: tariffs and Apple Intelligence. The stock fell further from the $4 trillion market cap level on Monday, down 1.3%. The stock closed at $252.20 and needs to get to $264.63 to be the first company to cross $4 trillion in market value. Apple is 3% from last week’s high. Insurance in the USA PGR YTD mountain Progressive shares year to date CNBC TV’s Contessa Brewer will report on how the industry is trying to prevent catastrophes, in the hope of reducing risks, payouts and potentially high premiums for customers. All the big insurance stocks are up double digits in 2024. Progressive is the best of the bunch, up 50% year to date, but almost 13% from its November high. Hartford is up 36% in 2024, but is 14% from its 52-week high in November. Willis Towers is up almost 30% in 2024, but is down almost 7% from its early December high. At the bottom of the list: Marsh & McLennan up 12% in 2024, Prudential up 14% in 2024, and Aon up 23% in 2024. All are at least 10% from their 52-week highs. Tomorrow is the final day of trading in 2024 The Nasdaq Composite is up 29.8% in 2024. It is off 3.6% from its record high. The Nasdaq has now gained 5.7% since the election. The Nasdaq-100 is up 26% in 2024. It is 4.2% from its high. The Invesco QQQ Trust (QQQ) is up 4.8% since the election. The S & P 500 is up 24% in 2024. It is 3% from the high. It is up 2% since the election. The Dow is up 13% in 2024. It is 5.6% from the high. It is up 0.8% since the election. The Russell 2000 is up 9.9% in 2024. It is 9.7% from the high. It is down 1.5% since the election. The REITs CNBC TV’s Diana Olick will report on the real estate investment trust sector on Tuesday. Looking at the health REITs, Community Healthcare Trust is up 3.8% in three months, still 49% from the February high. For the shopping REITs, Macerich is up 9.4% in three months. It is more than 11% from its Dec. 9 high. Communication REITs, SBA , American Tower and Crown Castle are all down double digits in the month. All down about 20% from their highs. CBRE is the best performing residential REIT in the last month, up almost 7%, but still 9% from its November high. Data Center REIT Digital Realty is down nearly 10% in a month. The stock is 12% from a late November high. All of the office REITs are down in the last month. Brookfield Property and SL Green are down more than 15% each. All of the big logistic REITs are down in the last month. Public Storage , Extra Space and Prologis are all down double digits in the last month. Summit Hotel Properties is up 4% in a month, but is still 5% from an October high.
