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Santoli: The S&P 500 tests a lower range as major banks dip on earnings and high rates squash tech

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, January 6, 2022.
Brendan McDermid | Reuters

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

  • Another turn of the ratchet as the market positions for higher rates and absorbs squishy short-term growth data even as forward-looking indicators show a reacceleration as omicron peaks.

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