Global Markets 2011 - Special Report

Matt Nesto

Matt Nesto, CNBC Rep_25639852
Correspondent, CNBC

Matt Nesto joined CNBC in August 2007 as a general assignment reporter for the network’s Business Day programming.

Prior to joining CNBC, Nesto spent nine years at Bloomberg Television where he most recently served as anchor of its "Morning Call" program. Nesto was also an anchor and stocks editor for "Bloomberg’s Market Week" based in New York.

Previously, Nesto was a European correspondent for Bloomberg Television based in London and was also an anchor, producer and news director for Bloomberg Television in Tokyo, Malaysia and Singapore. While in Asia, Nesto created and launched "Bloomberg Malaysia," an unprecedented joint-venture program in Kuala Lumpur, which earned him a nomination for "Best Newscast in Asia" at the Asian TV Awards in 2000.

Before joining Bloomberg Television, Nesto held financial consultant and investment advisor positions at Lehman Brothers, Prudential Securities and Merrill Lynch.

Nesto began his broadcasting career as a general assignment reporter for WPTZ-TV in Burlington, VT/Plattsburgh, NY as well as Bureau Chief and general assignment reporter for WMUR-TV in Manchester, NH.

Nesto earned a Bachelor’s degree in mass communications and broadcast journalism from Emerson College in Boston, MA.

More

  • In the past 11 trading sessions, the Dow Jones Industrial Average  traded in a high-low range less than 100 points, its longest streak since January 2006. 

  • Since bottoming in February at $33/barrel, oil prices have posted a rapid and astounding recovery and are suddenly back above $70 again.

  • Standard & Poor's downgraded General Electric, lowering its rating to AA-plus with a stable outlook, down from the top-tier, AAA credit rating it enjoyed. Here are some sobering facts about GE and other big stocks...

  • UGH. How depressing was that? After days of hype, leaks and anticipation, Tim Geithner, the Treasury Secretary cum Eagle Scout tip-toed onto the stage and told America... not much. ... And it was just over four months ago, in late September when Hank Paulson made an equally mealy-mouthed pitch to Congress. He left a blank check for $700 billion but few new converts.

  • Just like in physics, lawmakers reflexively follow the path of least resistance. And like water, they also seem to seek their own level and find the lowest point along the way...

  • Financials account for some 12 percent of the S&P 500 — but 30 percent of the decline Wednesday. So who's the worst of the worst?

  • What's (not) up with small cap stocks? A glance at the market Tuesday showed the Dow down about 1 percent but the Russell 2000 Small Cap Index down more than 3 percent, causing many an observer to wonder what the heck is — or isn't — going on with the little guys.

  • Tuesday's rally has become Wednesday's hangover. It's really that simple.

  • It's a tale of when the worst becomes first. The beaten-down materials sector appear to be back on track and making milestones: it's been the top performing sector over the course of a week, and the top performing sector today. But what really gets my attention..?

  • *(well... that is, if your universe is the S&P 500!) No matter... shares of this office supplier are not only No. 1 today (up 20 percent) but No. 1 this week... with an astounding 118 percent gain in 5 days...