New York Stock Exchange building is seen decorated for Christmas at the Financial District in New York City, United States on November 30, 2020.
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This is the daily notebook of Mike Santoli, CNBC's senior markets commentator, with ideas about trends, stocks and market statistics.
Stocks continue to hover near their highs, the S&P 500 sticky near the 3,700 level all month – and why wouldn't they be? Financial conditions are as loose as they've ever been, big companies are getting free borrowed money adjusted for inflation, vaccines are here, a new fiscal support bridge is under construction, corporate profit forecasts are pointed higher, strong markets tend to stay strong at year-end and a couple-trillion in M&A dry powder is piled up.