it is 5:00 a.m. here at cnbc global headquarters. here is the "five@5." stocks off to the worst start of the year and pointing to more losses at the open. and investors say they found the missing door plug that fell off the max 9 jet that made an emergency landing over the weekend. in washington, republican and democratic negotiations reach a deal on u.s. spending levels ahead of a possible government shutdown this month. and plus, apple coming off another rough week after a

double downgrade and anti-trust concerns. why the stock could bounce back today. and more trouble for forfor for evergrand and the electric vehicle line. it's monday, january 8th, 2024. you are watching "worldwide exchange" here on cnbc. welcome to "worldwide exchange." i'm frank holland. we kick off with the check of the stock futures with the dow and s&p and nasdaq check. take a look right now. more red across the board. the dow would open up almost 175 points lower. you see the s&p and nasdaq in the red as well. keep in mind the s&p is off 2% from the 52-week high. a big part of the action here is boeing.

taking more than 130 points from the index at the open. much more on that in a moment. all this ahead of the busy week for wall street with the kickoff to bank earnings and key inflation report and december cpi on thursday and two major investor events, including the jpmorgan chase healthcare conference and ces, consumer electrics show. we are checking the bond market this morning with the u.s. ten-year yield above 4%. 4.02%. these yields have risen about 20 basis points since the start of the year. we are looking at the energy market. oil under pressure after the best week in a month and saudi arabia saying it will cut key prices for buyers in all re regions. you can see wti down nearly 1.5%. brent crude down more than 1.25%. we will watch the oil prices throughout the morning. that is the set up. let's get to the breaking news

and latest on boeing. we have silvana henao with that. >> frank, good morning. u.s. officials located a missing door plug that could be key to the investigation into what caused it to detach from the alaska air flight friday night which forced an emergency landing and grounding of more than 170 boeing 737 max 9 jets. including the currently operated by alaska and united airlines. according to the ntsb, the part was located by a portland resident in his backyard and he reached out to the agency. missing parts are not the only issue impeding the investigation around boeing and partsmaker ae. this plan shows a benign pressurization warning.

there is also the issue of the flight recorder. >> the cockpit voice recorder was overwritten. there is nothing on the cockpit voice recorder. now the emergency operations center at this point was being established rapidly by alaska. there was a lot going on on the flight deck and on the plane. it's a very chaotic event. the circuit breaker was not pulled. the maintenance team went out to get it, but it was right at the two-hour mark. it was completely overwritten. at two hours, it rerecords over it. we having nothing from the cvr. >> frank, there were no serious

injuries on the flight. 173 passengers and 6 crews. boeing shares are down sharply ahead of the open as the number of the airline stocks. boeing in pre-market is down over 8%. >> we will have more on boeing later on. boeing causing the dow futures to be down 130 points. down 8%. silvana, thank you. we will see you later on. turning attention now to washington, d.c. and congressional leaders reaching a top line spending agreement to avoid a partial government shutdown later this month. nbc's drew petrimoulx joins us from washington. drew. >> reporter: good morning, frank. house speaker mike johnson and senate ma leader chuck schumer announced the deal. details of the plan for the

military and non defense spending. it is a significant step toward avoiding a government shutdown, but doesn't extinguish the threat. the first of two deadlines is approaching on january 19th when some parts of the government will run out of money. speaker johnson is working to sell the plan to house republicans, pointing out it cuts $10 the10 b$10 billion in . it is getting push back from chip roy from texas who used an expletive. the deal was even worse than we thought and a total failure. for his part, president biden praising the agreement in a statement on sunday saying the framework moves them one step closer to prevent a shutdown. he urged republicans to do their part and stop threatening a shutdown saying it is time for

them to act. frank. >> a lot of discussions and negotiations going on in d.c. drew, what is the next deadline? there is another one coming up to possibly avoid a government shutdown? >> reporter: another deadline coming up fast. first, the republican led house and democratic controlled senate need to establish and agree on how to allocate on the funds in the agreement. they need to write that and pass it through both ch chambers. that is not an easy issue. >> drew petrimoulx, thank you. we have more to come on "worldwide exchange," including the one word investors need to know. plus, more on the crisis at boeing and why jefferies is sticking with the buy rating. and a big week for the

he he healthcare and weight loss drugs after that playbook is released. stay with us. we have a very busy hour when "worldwide exchange" returns. so. can we provide health care virtually anywhere? we can help with that. is it possible to use predictive monitoring to address operations issues? we can help with that, too. with the advanced connectivity and intelligence of global secure networking from comcast business. it's not just possible. it's happening. what is cirkul? cirkul is the fuel you need to take flight. cirkul is the energy that gets you to the next level. cirkul is what you hope for when life tosses lemons your way. cirkul, available at walmart and drinkcirkul.com. how am i going to find a doctor when i'm hallucinating? what about zocdoc? so many options. yeah, and dr. xichun even takes your sketchy insurance. xi-chun, xi-chun, xi-chun!

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with storm ready wifi from xfinity. and see migration in theaters now. welcome back to "worldwide exchange." look at futures right now with the dow opening up 175 points lower. that is largely due to boeing after a key hatch blew off the plane of the boeing jet. you see boeing shares down more than 8% along with the component

makers. spirit aerosystems. the company that made the door that blew off. we will have much more on the story coming up throughout the show. time to shift attention to europe with arabile gumede with more in the london newsroom. good morning, arabile. >> good morning, frank. look, we almost match the ties this time. we are getting closer. we have seen a negative morning across the market picture in the early morning trade. we had a slight upward tick in last week. managing to finish off in a bit of raed in the trading day. today will be around the airlines and what has happened with those. look at frankfurt. boeing dropped 8% in the early morning trade. key questions still to be asked

after finding that door hatch. questions will be around what happens from there. also airbus with the french plane manufacturer. their shares are inching higher. as much as 2.5% to the good at some stage and well. some airlines are dropping off going into negative tilt. on to the boeing picture. the likes of indonesia which grounded three of the boeing 737-9 max planes. that is despite a key difference in the configuration. you see a dropoff with the other airlines who are choosing not to use the 737 max 9. you are continuing to follow this story. that is a key factor across the markets here in europe. so, too, across the indices.

frank. >> we will continue to watch that. i'm glad we are getting our ties on the same page. arabile gumede, thank you. turning attention now back stateside. the markets stumbled out of the gate in january and that may signal a difficult 2024 for the markets. going back to the 1950s, the s&p's first five trading days and the full year have gone in the same direction 60% of the time. it is down in the first four trading days. 2022 is the first time it fell 5% or more in the first five days. it dropped 19% for the full year. historically, when it logged gains in the first five days, it logged 14% for the year in gains. the average annual return has been .3%. dan veru is here with us. good morning.

>> good morning. our ties match well. >> we are coordinated. we don't match. on a serious note, what do you think about the direction of the markets to start out the year? we have seen bond yields go up 20%. >> markets have overperformed in the fourth quarter last year. i think to think we are going to see the fed cut more than three times this year is probably a stretch at this point. that's probably why we are seeing the treasury yields tick up. that realization is coming in. the economy is slowing, but not slow. unemployment remains pretty solid. i would be cautious about what happens with inflation because it tends to go up in a lineal fashion. the pathway down could be jagged. >> areyou are leading me to the

next question. how meaningful is this to the market and the fed decision? they signalled three rate cuts in the first month of the year. >> right. we put too much emphasis on any one single data point. you have to string several together. it is great inflation is on its way down. that is significant. we're still pretty far away. still over 100 basis points away from 2%. >> you say inflation is down. what about bond yields? do you think bond yeeields is a big story if they continue to rise? >> yes. that is what triggered the rally in the fourth quarter. 100 basis point drop in ten-year treasury yields. from 5% to under 4% for a brief period of time. we are ticking back up. marks aets are adjusting to tha. >> we are close to a peak because people are expecting cuts. >> frank, you have a lot of

dynamics working at the same time. we have high budget deficits right now. we have a high deficit as a nation. the interest expense on our debt is quite high. it is at that level where the bond vigilantes are pushing back. if they don't like it, we could see yields tick back up. i don't think so, but that is as big a problem. engineering a soft landing. >> you have a few picks. i want to get to one in the healthcare space. why do you think this is a good pick for this environment? >> it had a tough year last year with concerns over the redetermination process of people coming off medicaid and medicare. there were concerns with the earnings. sarah london and her team raised guidance three times. in the last week, you saw

several upgrades and increases in rise targets. this is an excellent value. >> a lot to watch. dan veru, thank you. as we head to break, a quick market flash on maersk. the company extending the diversion of vessels from the red sea for the foreseeable future in the surge of houthi attacks. some retailers are feeling the effects with ikea and ambercrombie. companies are forced to divert goods and encountering sur surcharges. coming u wllp,e' have much more on "worldwide exchange." stay with us.

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welcome back to "worldwide exchange." the pharma sector takes stage in san francisco as the jpmorgan chase health ccare conferenc kicks off today. abbvie and astrazeneca announcing $25 billion in bio-tech deals. activity overall in 2023 lagged the average of the past five years. among the hottest topics will likely be the weight loss drug

like ozempic and zepbound. let's talk more about this with emily field. head of pharma research at barclays. thank you for being here. >> hi, thanks forego ha having . >> the drugs have been the talk of so much. impacting health care and other sectors. what do you expect to hear at the conference that starts in san francisco this week? >> so, i think what we are looking for from both novo and lilly is any color we can get on the supply situation. the story for 2023 was just that demand is so far ahead of supply and the companies are scrambling to fill capacity as quickly as possible. any tid bits from eitheither coy of the supply is what we are focused on. >> according to morgan stanley,

the outlook for all of these drugs is $27 billion by 2030 and 750 million people globally suffer from obesity. give us a sense. how big could these drugs get? could they go mainstream? could we be using these glp-1 drugs? >> we published a forecast by 2033 could reach globally. we feel more confident about the forecasts. we know they work very, very well to help patients lose weight. what novo was able to firmly establish last summer and we saw more data in the fall was not only do you lose weight, but it has a major benefit on the cardio weahealth. we are looking at where losing

weight can benefit kidney disease and liver disease. >> talk to us about wegovy plus select. how will this be when it comes to the obesity drug market? >> we think the select results were a game changer on the reduction of the potential further heart attack or stroke. they filed that with the fda and we think it's these data sets that leads to greater insurance coverage. the other thing we get asked all the time is price and they are very expensive. insurance companies are pushing back as much as they can. the data sets are going to show these will save you money in the long run. >> to clairrify for the audienc using the two combined reduce the heart attack and stroke. i think the other question is what else are people talking about in san francisco?

we are focused on the weight loss drugs. what else is out there? >> to your earlier point, we look to the conference as the kickoff of the m& a season for w pharma. we have astrazeneca and roche. some others will engage with smaller bio-teches outbio-techs. we will get guidance later this month in the coming weeks from lilly and novo. that is where people are focused right now. >> we hit the guidance in the coming weeks. you have written about this. we are talking about roche and astrazeneca and knovartis. is it developing their own drugs? >> great question. i think we have seen that

developing these drugs is harder than you think. pfizer had disappointing results from the glp-1 program last month. i think we are probably going to see more of the larger players without an in-house program looking through other programs. it is almost every company will have to be involved in some way just to participate in the growth story. >> wait and see. jpmorgan chase conference kicks off in san francisco this week. emily field, great to have you here. >> thank you. as we head to break on "worldwide exchange," if you haven't already, follow our podcast. check us out on apple or spotify or oerth podcast apps. more "wex" coming up after this.

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it is 5:30 a.m. in the new york city area. there is more ahead on "worldwide exchange." here is what's on deck. futures under pressure. highlighted by bank earnings and a closely watched bank records. and shares get hit hard after 177 737 max t9 fleet get grounded. it is monday, january 8th, 2024.

you are watching "worldwide exchange" here on cnbc. > welcome back to "worldwide exchange." i'm frank holland. we kick off the half hour check with the stock futures with the dow, s&p and nasdaq coming off the first down week in ten. the s&p's worst start to a year since 2016. look right now. you can see in red across the board. dow looks like it would open 175 points lower. we will tip to watch this. of course, this action with the dow futures is due to boebow. saving more than 130 points at the open. we are watching the ten-year yields above 4%.

4.02%. yields moved 20 basis points higher since the start of the year. we are looking at energy, specifically oil, under pressure this morning after the best week in a month and saudi arabia saying this morning it will cut key prices for buyers in all regions, including asia for the month of february. look right now. oil is moving lower since we started the show. wti down 2.5%. brent crude down 2.25%. that's the set up. let's get to the breaking news. the very latest on boeing's latest 737 max crisis. shares getting hit hard in the pre-market. lephil lebeau is joining me wit the story. >> reporter: frank, good morning. investors are trying to assess the extent of the impact of the grounding of 737 max 9 planes as you mentioned with more than 170. here is the state of the investigation. we got an update from the ntsb last night in portland. three days or two days after

there was a plane flying from portland to southern california and there were issues that resulted in a blowout where a plug, inactive door, that was covered over as part of the fuselage had been blown out. here is the ntsb investigation. an emergency door as part of the manufacturing of the dash 9 is covered up. it blew out during the flight. they have found the door, the plug, they found that in portland. all grounded planes are inspected. foreign carriers parked their planes in addition to alaska and united. here is the head of the ntsb this weekend talking about how lucky everybody involved that this was not a far worse accident. >> we are very, very fortunate here that this didn't end up in something more tragic.

no one was seated in 26a and 26b where that door plug is located. >> reporter: incredible nobody was seated right next to the section where the blowout took place. here is what you have. a total of 218 boeing 737 max-9 fleet. of that, 171 grounded. those have the plug. if there is a max-9 with the active door, those have not been grounded. united with 79 and alaska has 65 and then you have six other airlines, foreign carriers, with the remaining 74 which have been delivered and are being or were in service around the world. as you look at shares of boeing, the max production right now

stands at 38 per month. it is scheduled to rise in the middle of this year. the max-9 is a small number of the 737 max that are built. there are others, the max-8, which is the bulk of the production. this is in the midst of boeing planning to increase production. look at shares of spirit aerosystems. spirit makes the fuselage for the max. including the plug in question. spirit will be part of the ntsb investigation as they look to see exactly what happened with t alaska airlines flight on friday. frank. >> thank goodness no one was hurt. for our audience and investors, what does it mean for boeing stock long term? the stock seemed to make a turn around after the initial problems with the 737 max. what does this mean now for this

component? >> reporter: overhang in the near term. the question becomes the extent of the problem. in other words, if the ntsb investigation and the faa investigation, which are separate, ntsb investigates what happened. faa ensures all aircraft are safe going forward. they are separate investigations, but related in terms what they are looking at here. how long will this take? can they determine what happened and how do the inspections to ensure it doesn't happen with the remaining fleet out there? is this a couple of days? is it a week? two weeks? the length of time is going to determine the overhang at least initially on shares of boeing. there's a broader question, frank. we reported repeatedly, not us, but everybody, repeatedly about problems whether it is a loose bolt which requires inspections

or holes drilled improperly on 737 max. we have seen the plane with the big grounding after the two crashes in 2018 and 2019. now the question becomes what is going on with quality control at boeing? i know this has been a focus of dave calhoun and his team, but for investors, you have to ask can they ramp from 38 a month to 50 a month by 2036? that is 12 to 15 months away? >> a lot to follow here, phil, you will be talking about this all day. phil lebeau, thank you. shares of boeing down more than 8%. let's get more on boeing and the analyst view with sheila kahyaoglu. good morning. >> thank you. >> phil detailed the latest developments with boeing. the door plug flying off the plane mid air.

does what happened here and these ongoing issues with the 76 737 max change your outlook? >> we remain with the target price. this is one of the smaller variants. there are 171 grounded. less than 1% of the global fleet out there. it is 2% of the backlog. there will be a cost implication of this. how we are thinking about that this morning is twofold. first, think about every max at $10 million of cash flow per copy. it is set to go up to $5 billion in 2024. we are assuming production goes up to 545 aircraft. boeing is generating $5.5 billion of free cash flow from

the max. in terms of the cost implications, twofold. one is going to be cost concession to the airlines. some implication of that. second is the production ramp and will there be a hiccup from 38 a month to 50 a month in 2025 and 2026. i don't think the production ramp will slow depending on how long this takes. i think the production ramp has been so slow and we have seen numbers as low as 15 to 20 in the last few months. boeing has really focused on getting supplier health back to stability post pandemic. no change to production in our view. >> i mentioned you had a lot of c calls and emails. i want to look at the broader landscape with the company. does this involve the 737 max

change the view of the customer with the ma planes? >> this will impact capacity in the u.s. with the u.s. carrier capacity with united and alaska having a large portion of the fleet. 70% of the aircraft is in north america. what we're seeing in north america with the airlines right now is pricing deteriorate in the u.s. this could be positive as capacity comes up temporarily in the first quarter. i don't think this will change the view of customers or anything else, frank. >> obviously, boeing under pressure this morning. spirit aerosystems as well under pressure. is this turmoil with boeing any other's gain? >> honestly, what we have seen across the base of oems with boeing or airbus, everyone has issues going up the production

ramp. of course, we have seen issues with the engine manufacturers. ge has been relatively uns unscathed. we have seen ratheon with powder contaminated in the engines. that is forcing 40% of their gps inspected in the first hflalf o this year. quality issues is not limited to boeing. we have seen it with the engine oems over last year. >> sheila, great to see you. thank you for your time and insight. >> thanks. turning attention to washington now. congressional leaders reaching a t timeline spending agreement that could avoid a shutdown. we have emily wilkins with more.

>> reporter: good morning, frank. congressional leaders struck a deal yesterday on how much the federal government will spend for the current fiscal year. this is a huge step forward toward avoiding a partial government shutdown less than two weeks away. that top line number is $1.66 trillion. it reflects the agreement that congress and white house reached last june over the debt limit and the handshake deal with president biden and then speaker mccarthy. current speaker johnson was able to negotiate cuts of allocated funding. this includes $6 billion of covid funding they will clawback and $10 billion in cuts for the irs. chuck schumer and hakeem jeffries said the agreement clears the way for congress to act over the next few weeks to maintain important funding priorities for the american

people and avoid a government shutdown. senate republican leader mitch mcconnell was encouraged on the agreement. he called on congress to act quickly. not everyone is a fan of the deal. it is facing pushback from hard line conservatives in the house. chip roy said the deal is terrible and they have to wait and see if they get meaningful policy riders. the democrats said they cannot be in the bill if it passes both chambers. the chances of the partial shutdown on january 20th decreased, but congress is not out of the woods yet. they still need to reconcile the spending bills. >> a lot to think about in d.c. emily wilkins, thank you. coming up here on "worldwide

exchange," apple coming off the rough start to the year partly hit to the downgrade double wh whammy. will the stock bounce back? we are back right after this. [♪♪] your skin is ever-changing, take care of it with gold bond's healing formulations of 7 moisturizers and 3 vitamins. for all your skins, gold bond.

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what about zocdoc? so many options. yeah, and dr. xichun even takes your sketchy insurance. xi-chun, xi-chun, xi-chun! you've got more options than you know. book now. welcome back to "worldwide exchange." we have a look at the top corporate stories with silvana henao. >> frank, the rwait for the firt

etf bitcoin could be over. meeting with investment firms on friday to discuss the final wording in the filing for etfs ahead of the decision later this week. more than a dozen firms, including blackrock and fidelity and wisdom tree submitted applications for bitcoin etfs. evergrande is under pressure again. the ev manufacturing arm falling 20% on news its vice chairman has been detained on suspicion of illegal crimes. this as evergrande is scrapping plans to sell shares to nwtn last week. and alphabet is betting big on the pharma industry. the labs is partnerships to apply artificial intelligence to the medical research initiatives.

the companies say they are excited to advance groundbreaking drug partnerships to deliver life changing medication for patients. frank. >> silvana, thank you. we turn back to the markets. shares of apple are lower after ending down 6% last week. the four straight sessions of declines is the worst week to st start a year for apple since 1992. antitrust regulation and increased competition in china is weighing on sentiment. let's discuss what is ahead for apple with richard kramer. richard, great to have you here. >> good to see you, frank. >> we detailed apple shares down 6% last week to start the year. how big of a deal is this? apple is the biggest company in the u.s. by market cap. one of the most widely held as well. >> well, i think you need to set this against the context of the

stock up 48% last year. that is, by any measure, a stunning performance. i think there is a natural concern that the multiple expansion by apple is not repeated this year. of course, it is a natural target for investment bank analysts to downgrade because it is large and liquid and can reduce value in the shares. if you look at apple, they have among the most visible longer-term earnings in tech. we know that their ecosystem lock-in is unparalleled. you know there will be replacement of iphone demand t. is unlikely that demand will go beyond three and a half years. they have a number of new product categories that are likely to offset the weakness you will see in china in the first half of the year. >> we are showing the audience the wall of the headwinds for

apple over the last week and before then. two are tied together. china competition and slowing iphone demand. apple gets 20% of revenue from china how should investors view the china risk? >> again, apple has shown that it has grown emerging markets as a whole to one-third of the business. the non-emerging market piece or non-china emerging market piece is growing quickly and can offset that china weakness. i think that china risk is already well in the price and something that has been reflected with huawei coming out with the phone earlier this year or late last year. i think that is well understood right now. i think the longer-term issue with iphone is with the competitors because it is hard to see where you are going to get a meaningful scale global p

c competitor to apple and apple takes the market share in lucrative markets especially where the services markets are larger in u.s. and europe where samsung is the only competitor. there is too much focus on the china market share issue and not enough on the other emerging markets where they can grow. >> got it. too much focus on china . one last question. apple versus microsoft. is it meaningful at all to see the market cap narrow for these two companies for apple? >> it is irrelevant. i think you need the investor perspective on both companies. they have incredibly long duration and visibility of earnings. apple has the ecosystem lock-in. microsoft has the enterprise

lock-in. whether you are playing the race of the larger market cap, they have the tremendous valuations because people know in five or ten years you are still going to be investing in their products. >> richard, great to see you. have a great day. >> thanks. coming up on "worldwide exchange," what every investor nooetd needs to know today. much more "wex" after this. (christina) wanna know the secret ingredient to running my business? (tina) her. (christina) being all over, all at once. (tina) all the time. (christina) but my old network wasn't cutting it. and that's not good for baking. or judging. or writing. so, we switched to verizon, the network businesses rely on. with verizon business unlimited,

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flight. cirkul is the energy that gets you to the next level. cirkul is what you hope for when life tosses lemons your way. cirkul, available at walmart and drinkcirkul.com. welcome back to "worldwide exchange." markets looking to extend the unearn start to 2024. huge this morning is boeing. shares under heavy selling pressure. the company under scrutiny after the blocked exit door blew out

during the alaska airlines flight over the weekend. prompting the grounding of 171 of the 737 max-9jets. we have ckatrina with us to discuss. what is your wex word of the day? >> we are talking about the earnings numbers being aggressive into 2024. we think consensus numbers need to come down further than people are expecting. we are coming into the adjustment period. we saw the earnings heexpectati rising. we think people need to stop talking about the rising wage pre pressures. >> that was a big lead in. what is the word? >> my word is surprise.

it isn't just surprise, but the five surprises going back to the beginning of the year. productivity and innovation and the elections and we are looking at credit and we are looking at earnings. they are the five surprises we are talking about. >> one thing that has been a bit of a surprise for the markets are bond yields. don't pay attention to them, but they have risen 20 basis points this year. from the first trading day of the year, they have been under pressure. why should we ignore those? >> we e we look at the five surs from last year and one that did not work was equity and bond markets would work. if we go into 2024 and we need to think about having a balanced portfolio and yields coming from dividend stocks. not just focusing on the high dividend payers.

those dividends could be as risk. go back to the credit which is the surprise. >> are you surprised about the market broadening in? one out performing the indices. are you surprised? >> no. we take a look at the magnificent seven which is really driving the market and driving the comments, the multiples on the stocks are fair and they are significantly above without the magnificent seven. there is a ten-point difference with where they are trading and the rest of the market is trading. that gap is starting to close. you are seeing the equal weighted index. the rest of the market is catching up. >> you don't have a pick today, but you have a sector we should look at today. space. >> i like the space sector. we always like things where innovation drives.

i think space for us is an vie environment with zero gravity. we need to look at innovation. we talked about a lot of space and space travel and people taking that 30-second roller costar ride. no >> we have to ask. boeing today. how will it impact the markets? >> i think from the boeing perspective, you need to think about what this means with the culture at boeing and their focus on safety. i do think there are other companies in there. it is is not a big part of the production. >> katrina dudley, thank you. that is it for us on "worldwide exchange." a quick look at futures. dow looking like it would open up 190 points lower. boeing is a big part of the decline. that will do it for us on "worldwide exchange." "squawk box" is coming up next. have a great day.

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good morning. dozens of boeing planes grounded after a piece of a plane blew out in the middle of the alaska airlines flight on friday. the stock falling more than 8 t8% this morning. congressional leaders reached a spending agreement. they could have averted a shutdown. and the fed president says don't rule out another rate hike. it's monday, january 8th, 2024. "squawk box" begins right now.

good morning. welcome to "squawk box" here on cnbc. we are live from the nasdaq market site in times square. i'm becky quick along with joe kernen. andrew is out today. welcome back, joe. >> thank you. it's a new year. have i got that right? they go fast. >> good luck writing that on your checks. >> does anyone do that? >> i still have some checks. >> really? >> i have a few checks i write. not everything is done electronically. last week, not a great first week for the markets. you did see the declines across the board. nasdaq with the biggestdecline down 3.5%. just under 3.5%. this morning, you are adding more red arrows to the futures. dow futures off by 191