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.
The banking industry, a source of pain for the markets since the credit crunch began, is center stage in today's trading. Citigroup shares this morning are getting whacked after Merrill Lynch slashed earnings estimates and said Citi could take another big writedown.
Inflation data and some retailers' earnings are the big headlines ahead of Tuesday's opening bell. Home Depot, Target and Macy's all report early in the day. Traders will be watching to see whether the producer price index due out in the morning, shows the same trend as the consumer price index last week - an unexpected pickup in inflation.
Gold lost some of its luster today after U.S. Treasury Under Secretary David McCormick gave support to the idea of International Monetary Fund gold sales. Earlier today, the Treasury, in a turnaround, said it would support gold sales from the IMF's reserves if they are part of a package reforming the way the organization operates.
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.
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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.