Mike Santoli's market notes: Market coasting, the vaccine pop zone, mega-caps holding us back

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Traders work the floor of the New York Stock Exchange.

NYSE

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

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  • The market is coasting here on what’s left of last week’s burst of momentum, unclear how much is left. So far the indexes are holding firm near the highs, digesting the big month-to-date rally but having a slightly harder time converting good news into instant upside. The incremental improvement in Pfizer vaccine data and modest market response tells us this positive catalyst has largely been “used up” for the moment.