Fernandez: This market is changing day to day based on headlines

Watch on YouTube ↗  |  January 23, 2026 at 12:08  |  3:21  |  CNBC
Speakers
Victoria Fernandez — Representative, Crossmark Global Investments

Summary

Victoria Fernandez, Chief Market Strategist at Crossmark Global Investments, says headline-driven volatility is making the market change day to day, requiring a tactical and defensive approach. She favors defense stocks, financials, regional banks, and PNC, and stresses companies with strong cash flow and balance sheets that can withstand volatility. She avoids staples as a defensive play and sees multiple macro hurdles ahead, including earnings, potential government shutdown, and sticky inflation.

  • Market is highly headline-driven and volatile.
  • VIX and MOVE index have seen high moves.
  • Defense stocks cited as doing better with anticipated inflows.
  • Staples called a drag and not recommended for defense.
  • Financials favored; regional banks are taking leadership from larger banks.
  • PNC praised for earnings beat, growth, net interest income, and efficiency.
  • Macro risks include earnings season, potential government shutdown, and sticky inflation.
Ideas
Victoria Fernandez Representative, Crossmark Global Investments 0:46
Headline volatility calls for tactical defense
The market is changing day to day on headlines, producing high moves in the VIX and the MOVE index; she says this requires tactical positioning and some portfolio defense.
VIX MOVE Index HIGH
Victoria Fernandez Representative, Crossmark Global Investments 1:14
Defense stocks benefit from anticipated inflows
Actual defense stocks have been doing better, and she sees anticipation that more money will flow into them as investors seek defensive areas.
ITA MED
Victoria Fernandez Representative, Crossmark Global Investments 1:25
Consumer staples underperform as defensive play
Staples have not performed well and have been a drag for the last 12 months, so she is not recommending them as a defensive play.
XLP MED
Victoria Fernandez Representative, Crossmark Global Investments 1:33
Favor strong cash-flow, balance-sheet companies
She favors companies with low P/S, good cash flows, positive price trends, and strong free cash flow and balance sheets because they can withstand volatility.
Companies with strong cash flow and balance sheets HIGH
Victoria Fernandez Representative, Crossmark Global Investments 1:38
Financials offer defensive cash-flow exposure
Financials is a great area; she says the sector has an upward trend, and it offers companies with low valuations, good cash flows, and balance sheets that can handle volatility.
XLF HIGH
Victoria Fernandez Representative, Crossmark Global Investments 1:55
PNC shows strong growth, improving efficiency
PNC beat on the top and bottom lines, had record revenue growth and 21% EPS growth, record net interest income, and an improving efficiency ratio; she cites good management and a good balance sheet.
PNC HIGH
Victoria Fernandez Representative, Crossmark Global Investments 2:05
Regional banks taking leadership from larger banks
Within financials, leadership is shifting from larger banks to smaller regional banks, which are now taking the baton; regionals as a group are doing well.
KRE HIGH
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This CNBC video, published January 23, 2026, features Victoria Fernandez discussing VIX, MOVE Index, ITA, XLP, Companies with strong cash flow and balance sheets, XLF, PNC, KRE. 7 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Victoria Fernandez  · Tickers: VIX, MOVE Index, ITA, XLP, Companies with strong cash flow and balance sheets, XLF, PNC, KRE