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.
Scared of the stock market? It could be a good time to dip into corporate bonds. More than a few economists and strategists have pointed that out in the last couple of days, as spreads widen to record levels. Today, Citigroup's Steven Wieting says in a note that the cost of corporate credit, and therefore investor returns, have probably eclipsed long-term stock market returns on a risk-adjusted basis.
The best stock market day in 75 years will no doubt be followed by a less enthusiastic Tuesday session. But the good news is the international effort to thaw the credit freeze may have finally given the markets at least a temporary jolt of confidence.
Stocks have a good chance of drifting higher in the week ahead, giving the year a bullish finale.
Friday may not see another stock market rally, but stocks are moving higher.
Crude oil futures fell sharply, signaling traders that the selling is not over.
The Fed may have helped prime the stock market for a Santa rally, if oil remains calm and there are no new flare-ups overseas.
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's Senior 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.