The stock market needs the so-called FAANG stocks to be "unified and consistent" for it to head higher into the new year, veteran trader Art Cashin told CNBC on Monday.
FAANG stands for Facebook, Amazon, Apple, Netflix and Google parent company Alphabet. The group, which led the market higher earlier this year, helped pull equities down during the recent sell-offs. FAANG stocks snapped their losing streak in last week's market rally.
"You want to see if they can all demonstrate unified strength," the UBS director of floor operations at the New York Stock Exchange said on "Squawk on the Street."