CNBC Business News Update Market Close: Stocks Lower, Investors Want to See The S&P Top 7000, New Car Prices Hit Record High 1/16/26
Jan 16, 2026
Mike Santoli, a Senior markets commentator and CNBC contributor, dives deep into recent market trends. He discusses the S&P 500's flirtation with the 7,000 milestone, outlining investor optimism and market response. The conversation takes an intriguing turn with tariff threats linked to geopolitical discussions. Additionally, the rising prices of new cars and their impact on consumer loans reflects broader economic pressures. Buckle up as Mike navigates the currents of Wall Street and Main Street!
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Market Nears S&P 7,000 Threshold
- The major averages pulled back modestly after President Trump's market-moving comments and holiday return to trading.
- The S&P 500 remains healthy and is up about 1.5% year-to-date, repeatedly approaching the 7,000 level.
Repeated Near-Misses Indicate Market Strength
- Mike Santoli notes the market has repeatedly approached 7,000, pulling back within about half a percent on multiple days.
- He characterizes the pullbacks as small and says the market still looks healthy after 11 trading days into 2026.
Tariff Threats Add Geopolitical Risk
- President Trump's threats of tariffs tied to geopolitical goals are creating market attention and uncertainty.
- U.S. Trade Representative Jamison Greer frames tariffs as a traditional presidential tool to achieve geopolitical aims.