What’s likely to move the market
Stocks @ Night is a daily newsletter delivered after hours, giving you a first look at tomorrow and 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 the S & P 500 eked out a narrow gain on Wednesday, and what’s on the radar. The New York Stock Exchange is closed on Thursday in honor of late former President Jimmy Carter. The bond market is open until 2 p.m. ET. The banks Thanks to CNBC’s data man Nick Wells for putting this one together. The SPDR S & P Regional Banking ETF (KRE) is on pace for seven straight down weeks — the first time it has happened since 2015. KRE is 14% from the 52-week high hit in November. The worst performers in the KRE in the past month are First Foundation , down 23%; Flagstar Financial , down 20%; and Amerant , down 17%. The SPDR S & P Bank ETF (KBE) is on track for its sixth straight weekly loss. That hasn’t happened in three years. KBE is also 14% from the 52-week high, which was also in November. The KBE’s worst performers in the last month are Rocket Companies , Triumph Financial and Voya . JPMorgan is 4.4% from the November high. Wells Fargo is 8.4% from the November high. Bank of America is 4% from the November high. Citigroup hit a high on Tuesday. KBE 1M mountain The SPDR S & P Bank ETF (KBE) over the past month eBay CNBC’s desk man Adrian van Hauwermeiren has been watching eBay all day. The stock is up 12% so far in January. eBay hit a high on Wednesday but slid 3% from that milestone. Shares ultimately ended the session with a gain of more than 9% on the day. The bonds The 10-year Treasury note yield is just below 4.7% Wednesday night. It hit 4.73% at one point in the session. That’s about the highest it has been since April 25. The two-year Treasury yield made it up to 4.31% on Wednesday. It was above 5% in April. US10Y 1Y mountain The 10-year Treasury yield over the past 12 months The quantum computing stocks Quantum stocks fell across the board on Wednesday after Nvidia CEO Jensen Huang said that “very useful” quantum computers are still 15 to 30 years away. Alan Baratz, CEO of D-Wave Quantum , told CNBC’s Deirdre Bosa that he strongly disagreed and his company is “commercial today.” He said Huang was “dead wrong.” CNBC stock man Tom Rotunno started watching these quantum stocks fall last night. IonQ is up 216% in three months, but it fell 39% Wednesday. Rigetti Computing is up 1,189% in three months, but it was down 45% Wednesday. D-Wave is up 565% in three months. Shares were down 36% Wednesday. Quantum Computing is up 1,276% in three months. It was down 43% Wednesday.
