Patti Domm is CNBC executive news editor, responsible for news coverage of the markets and economy. Prior to joining CNBC in 1999 as senior news editor, Domm was the equities editor for the Americas at Reuters. She was also Wall Street editor at Reuters, reporting on mergers, acquisitions and the Street. She also edited three CNBC books on personal investing. Domm serves on the board of the Financial Womens Association of New York.
While stocks drift higher, the action this week has been in bonds and commodities. Wednesday could see some of the same dynamic as traders watch for news on government stimulus plans and await the Friday jobs report. Meanwhile, the Fed has been revving up the mortgage market, pushing down rates as it buys up paper.
Goodbye 2008, and good riddance. Stocks could drift higher in the final session of the year Wednesday, but volume promises to remain light. There's little expectation much will happen to take away the sting of the year's near 40 percent declines.
Some traders are still holding out hope that a Santa rally will sweep stocks higher in the final week of the year, though there is no expectation that volume will improve until January. They also caution that a new round of hedge fund redemptions could pound the markets early in the year, dampening any January buying.
No, Alibaba doesn't actually cure cancer; however, some traders say it's lifting stocks ahead of its IPO tomorrow.
The Fed may have triggered an early look at its dream trade: short-term yields rise gradually and longer-term rates rise more slowly.
Alibaba's expected valuation is about $175 billion. Here's how that compares to other tech giants like Amazon, Facebook and Apple.
What can markets expect when Alibaba starts trading?
Patti Domm is CNBC Executive Editor, News, responsible for news coverage of the markets and economy.
A CNBC reporter since 1990, Bob Pisani covers Wall Street from the floor of the New York Stock Exchange.
CNBC Personal Finance Correspondent
JeeYeon Park is a writer for CNBC.com. Follow her on Twitter: @JeeYeonParkCNBC
Rick Santelli joined CNBC Business News as an on-air editor in 1999, reporting live from the floor of the Chicago Board of Trade.
Senior Producer at CNBC's Breaking News Desk.