NEW YORK (TheStreet) --The Dow Jones Industrial Average made it seven consecutive days closing in the green, unfortunately, it could not make it to the eighth day. The Dow Jones and S&P 500 both closed in the red on Wednesday, tapering off from the "Trump Rally."
"It's about time," CNBC's Bob Pisani said about the Dow's snapped winning streak on today's "Closing Bell."
"Consolidation is good; the S&P is up 2% in a week. It's good for the bank stocks to go down a little bit they have gone too far, too fast," he continued.
Oil remains a topic of discussion; the commodity closed lower on Wednesday to $45.46 per barrel.
"What's amazing is how the market still moves on the endless rumors around OPEC, a lot. From $42 to $45 just in a 36-hour period," Pisani noted.
Looking ahead, tomorrow the Chair of the United States Federal Reserve Janet Yellen will testify in front of Congress.
"I think Janet Yellen should be extremely happy about what's going on because, despite the criticism from President-Elect Trump, fiscal stimulus is exactly what the Fed and all of the Central Banks have been asking for," Pisani said. "Now we're going to get it, a perfect cover to raise rates."