Santoli’s Monday market notes: The market is quiet ahead of big expectations for Tesla earnings

A trader works on the floor of the New York Stock Exchange.

This is the daily notebook of Mike Santoli, CNBC's senior markets commentator, with ideas about trends, stocks and market statistics.

  • Stocks continue to sleepwalk uphill, with signs of indecision below the surface failing to restrain the market's upward bias. A cautious turn toward the defensive sectors in recent weeks – bonds, low-volatility stocks, healthcare – has for now been the market's way of protecting the lead built up by the offense (cyclicals, banks, small-caps) in the first 10 weeks of the year.

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