it's 5:00 a.m. here at cnbc global headquarters. welcome to "worldwide exchange." here's your "five@5." stock futures are higher ahead of a big week for economic data including the first jobs report of the new year. global chip rally on the back of foxconn results and the fourth quarter. jensen huang is taking center stage at ces tonight. and later, two fed officials sound the alarm over labor

market risk adding the fight against inflation is far from over. it's monday, january 6th, 2025. you are watching "worldwide exchange" here on cnbc. good morning. thank you for being with us. i'm frank holland. we begin this hour with the check of u.s. stock futures. wall street had a strong close on friday breaking a four-day losing streak for the s&p. taking a look at futures. you see right now the s&p up 28 points. dow up 70 points higher. that is fractionally higher on the percentage basis. nasdaq, the best performer in the pre-market, it is up .75% or more than 150 points. we look at the action in the s&p 500. you see at the top of the list. moderna shares up 3.5%. followed by micron. we told you there is a chip rally under way. shares up 3%.

fortinet and revvity and verisign. one major question as we look at the markets in the new year. the direction of the momentum with the s&p closing below the 50-day moving average. very close. a bit of a rally on friday. closing below the 50-day moving average over the last two months with the s&p moving side ways. another question for the market is narrow necessary. a lot of focus on a.i. as ces begins this trade. a lot of eyes on ceo jensen huang. you can see over the last month, the mag seven up 1.5%. the broader market down 2.5%. a lot of questions of narrowness in the markets. yields moved a bit. the ten-year at 4.62. trading at its highest level

since may of last year. we have three economic reports this week. jolts, fed minutes and jobs report coming up on friday. that will be a big one. oil at its highest level since october. this morning, saudi arabia is reportedly raising prices for pew buyers in asia. take a look at oil pulling back just a bit. wti and brent crude pulling back .25%. both above key sentiment levels. wti trading at 3.$73.75 a barre. we talked about natural gas last week. let's look at the chart this morning. it's up once again on cold weather forecast for east coast and over in europe. you can see over the last month natural gas moving 18% higher. right now up . 8.5%. bitcoin is trading close to

$100,000. $98,940. up over .50%. that is the set up. we turn attention to the global markets to see how they are kicking off the week. silvia amaro is in london with that. silvia, good morning. good to see you. very good morning, frank. so far, it has been a mixed day for global equities. let me show you what i mean with the asian bourses. we saw a little bit of pressure for chinese equities. hang seng was down .40%. a little bit of lower moving for the shanghai composite. all in all, investors digesting the data from china that show international orders falling in the month of december and highlighting ongoing concerns about what a trump presidency could mean for the chinese economy. if i bring you to europe, there this is how we are moving so far this morning. we were mostly in the green earlier today. that continues to be the case.

the cac 40 is up .40%. however, here in the uk, the ftse is down .20%. there are several narratives that investors are monitoring, frank. one is the move in the chip makers. let me show you how companies across european space are moving. this, of course, as investors are die gesting the sales from foxconn being strong and microsoft investing further in a.i. that is propelling the movement for the chip stocks. asmi up 4.6%. infineon up more than 5%. a final look at the diageo. here is another interesting story that markets are digesting today. when you think about the comments from the united states that perhaps there is considerations to be made in terms of alcohol intake and perhaps consequences for the likelihood of having developing cancer. we have seen a little bit of pressure off the back of that

for some european drinkmakers, including diageo. we are down .50% at this stage. we saw move pronounced moves to the down side on friday. that is a concern for investors in europe this morning. >> warning labels is a big concern for the industry. silvia amaro, thank you very much. time for the top stories and silvana henao is here with that. >> fed governor and san francisco fed president feel they haven't finished the job on taming inflation warning in the same breath, they don't want to risk damaging the labor market as they try to complete that task and speaking at a conference in san francisco this weekend, kugler says no one s popping champagne anywhere. similar to what she told our steve liesman on friday. >> well, looking closely at this. i have to say we saw that in the

first quarter of 2024. there was that bump and now we are seeing a bump again in september and october. november looked a little better, but we're seeing a potentially that we're traveling in another bump and we want to make sure that isn't just a bump and not something more permanent. meanwhile, foxconn reporting record fourth quarter revenue on continued strong demand for a.i. servers. sales for nvidiapartner jumping 15% to nearly $65 billion beating forecast. however, consumer electronics which includes apple's iphone saw roughly flat year over year growth. as silvia amaro mentioned moments ago, chip stocks rising on the heels of those results. we are seeing some asml is the winner as silvia mentioned up 4% in the pre-market. some of the other names also higher, micron, advanced micro

all in the green. united airlines plans to start testing elon musk's starlink in flight and starting to offer it on flights as soon as this spring. speaking of musk. he is moving deeper into politics this time across the pond calling for nigel farage to step down as the leader of the right-wing reform party in the uk. he says farage doesn't have what it takes. this comes weeks after reports said musk was in talks to donate to the party. musk didn't explain his change of heart, but could be linked to farage's calls to be released from prison. farage tweeting, elon is remarkable, but on this, i am afraid i disagree. frank. >> silvana, thank you very much.

see you late near r in the show turning back to the markets. the relative out performance of the u.s. and bullish run for the dollar. key reports include jolts and job opening. we get the means from the fed meeting on wednesday and the star of the line up is the december jobs report on friday. these reports could make the case for fewer rate cuts or possibly more rate cuts from the fed this year. let's bring in alan mcknight. >> good morning, frank. >> i want to ask you, where do you see the fed this year? do you see two rate cuts or one rate cut? we see a number of reports coming up this week. how does that call the narrative for the market's outlook? >> i think that is a big question. we see two to three right now with the recent positive economic data that's been coming out, we think the fed is more likely to stay on the sidelines

a little bit versus more rate cuts. with the data coming out this week, we think it will support the idea the economy is on firm footing and they don't want to go too far too fast and risk inflation as you mentioned earlier picking back up again. >> if the economy is on strong footing, why has the market flailed a little bit with the indication from jay powell that is he hawkish going forward? it is economy is strong and wage growth is strong. i know you are bullish on consumer discretionary, why is the market faltering in last couple weeks? >> i think to a certain extent, climbing the wall of worry. they will go up and come back down again. really, what is happening here is they are trying to get understanding around what policy is going to be. it goes beyond the fed and what will happen with immigration policy and what will happen with trade policy and which industries or sectors are impacted by that. that's what the market is really waiting for here. the fed is important, but policy

is going to drive this as well. >> let's talk about the sectors you are bullish on. as we look at the sector going forward, we have a number of economic reports that give us insight in the job market and also the fed's path forward. is there any one of the reports that is especially important to you with the bullish on consumer discretionary? >> i think the jobs report is critical on friday. i think we find out what exactly is going on underneath as it relates to labor and as we've talked about many times over the past year, the unemployment rate remained low. what we are hearing from ceos and cfos companies are not laying off as much as they're pausing hiring. we look that narrative continuing. we want them to hire, but we want them to get more clarity on the policy front. >> one other question for you. the bond market with the fed's path moving forward. do you see the bond market

moving forward? the bond market becoming competition for the equity market. we talked about the money in the money market funds not coming off the sidelines as people forecasted as another tailwind for the market . >> we think it is a clip coupon type of year. we don't want to take on too much credit risk because we are seen the high yield and lower quality has done well. we still want to have some exposure to other asset classes within fixed income to diversify. >> alan mcknight, great to see you. thank you very much. >> great to start off the week, frank. a lot more to come here on "worldwide exchange," and the bio-tech stock my next guest size is ripe for a bounce back. and we are two weeks from a port sdriek.trike. what is at stake? and the ces with jensen huang on the stage tonight. later, microsoft's a.i.

promise and cozying up to the incoming administration could mean for the stock. we have a very busy hour still ahead when "worldwide exchange" returns. stay with us. - yes. - oh. that's a commitment. [glass knocked] hey bud! whaddaya think? you know, people can see you out here. ha ha ha ha, yeah, yeah, right, right, ha ha. love you, too. agentforce helps retailers prevent fashion fails. it's what ai was meant to be. ♪♪

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we're with bridget, whose husband won't be home for months and whose daughter is due any day. we're with mike, who's leaving home to protect his family, and yours. we're with all service-members and their families who need community, connection, and maybe a bit of magic. are you with them? learn more at uso.org today. welcome back to "worldwide exchange." negotiations aimed at preventing another strike at the ports start tomorrow. u.s. mx will meet face-to-face for the first time since

november. the automation is the issue. more than half of u.s. exports and more than two-thirds of u.s. imports move through the ports. other industries such as the sneaker, apparel and fashion try industry get a large boost with the ports. joipg us joining us now is the ceo of apparel. >> thank you. >> steven, when we saw the strike, the concern was the holiday season. what is the biggest concern with the possible port strike when it comes to your industry? >> you mentioned it before. 50% of apparel and footwear and ies come through the ports. it's a huge transit point for

us. this is coming at a time when we are dealing with the potential of tariffs coming in and still trying to manage the cost and the problems associated with the houthis terrorist attacks over the red sea. there are still logistics concerns coming with that. at a time we are trying to find more predict ability and dealing with yet another potential strike. this wasn't resolved a couple months ago. this is coming at the worst time. as companies are trying to bring in product both ahead of potentially new tariffs and trying to manage spring and summer deliveries, this is coming at the wrong time. >> we want to welcome in chris swanger. chris, thank you for joining us. i want to ask you the same question. bit of a different time period. in october, worried about the holiday season. a different time. we're in the new year. as we look at the new year, what

does it mean for your dry? >> high octane time for the spirits industry. 77% of the export of distilled products come from the ports and markets all around the world. 43% of the imports come into these ports. we're very anxious and we certainly call on the biden administration and the incoming administration to make sure the parties find common ground and avoid the strike. >> chris, as your organization, have you been in contact with the current administration or the incoming administration? >> absolutely. we certainly know everybody is working hard to try to find common ground. it is imperative. our industry as ephen mentioned, is facing a 50%

tariff at the end of march. when you have the looming port strike and impact on the economy and hospitality industry in the united states, it would be significant. just a one-day strike would have major disruption for the distilled spirits and hospitality industry. our member companies are looking at contingency plans, obviously, but all of those are at a high cost and we're just hoping things get resolved as soon as possible. >> stephen, have you been in touch with the incoming administration or the current administration? when you are talking to them, have you been in talks with the port strike or the addition of the possible tariffs and what it could mean for the group? >> we are talking about the potential of a port strike and incoming tariffs. the stakes are really too high to lead a stalemate lead to a new strike. frankly, we think it's time to

get the u.s. mx invest more in technology, not less. the most efficient u.s. port, charleston, isglobe alley. as the new trump team is coming in, you can't have a america great not break the top 50 globe globally. we hope they will be demanding they get more aining on the technology. this is an opportunity to get everybody at the table and make sure we can be celebrating this new agreement well before president trump is inaugurated on january 20th. >> chris, back to you. do you have a take on the dispute with the port operators and port workers especially with automation? that seems to be the sticking point with the two sides. >> yeah, we don't take sides one

way or the other other than the fact these matters need to get resolved, obviously. a.i. will play an important role, but obviously, there's strong interest by the labor market to preserve those jobs as well. there has to be a way forward and we will appreciate this thing getting resolved in the next couple days because it will have an impact on the economy and certainly on the great distilled spirits industry. >> all right. stephen and chris, thank you for being here. negotiations start tomorrow between the port operators and union. i know you will be watching closely. stay in touch. there could be developments. both of you have a great day. chwodwe l on deck on "rlid exange," citi out with the stock picks of the year and this has another 19% to go for the next year. stay with us. we will reveal it. don't go anywhere.

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welcome back to "worldwide exchange." we have a market flash on boeing. barclays is upgrading to overweight. the first positive view since 2019. shares are up almost 2%. barclays citing improved balance sheet and free cash flow and it calls a hard eset on max production. remember, over the weekend, we marked one year since the door plug blowout on the alaska airlines flight. shares of boeing up 2%. time for the headlines with

frances rivera in new york with the latest. frances, good morning. >> good morning, frank. new details how the suspect in the new orleans terror attack. shamsud din jabbar wore smart glasses as he rode through the french quarter. investigators found two bombs placed in the area before the attack. congress needs to recertify the election of donald trump today. fence barriers have been established around the capitol building and police have shutdown surrounding streets ahead of the proceedings set for 1:00 p.m. eastern. democrats are not planning to contest the result unlike in 2021 when several republicans objected during the vote count. the first major snow storm of the year is packing a powerful punch. driving conditions across the

midwest are described as impossible. reports across kansas, missouri and kentucky of semi trucks sliding and stranded drivers. today, schools are closed in washington, d.c. and philadelphia and many other cities as blizzard conditions move east. amtrak canceled routes in the east. there are thousands of flight cancellations today. a big headache especially those headed back to work or school, frank, after the long holiday week. >> you know, big headache. i have a question, frances, do schools have snow days or with zoom do you go to class? >> some do. some schools in new york, they zoom. others are to be determined. nyc schools, you are not having a snow day. >> the whole generation doesn't know the snow day. >> from the radio. >> frances rivera, good to see

you. coming up on "worldwide exchange," the latest tech giants cozying up to the incoming administration backing up big words with bigger promises for action. we'll be right back here on "worldwide exchange." don't go anywhere. to create new legacies, to transform a company, industry, economy, generation. because grit and vision working in lockstep puts you on the path to your full potential. old school grit. new world ideas. morgan stanley.

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we'll ship more blackwell

next quarter than this and more and that. that puts it in perspective. we are really at the beginning of two fundamental shifts in computing that is really quite significant. >> that was nvidia ceo jensen huang on the earnings call last quarter talking about the up coming most mentum for the blackwell chips. the stock has been treading water, but has found momentum s of late. welcome back to "worldwide exchange." i'm frank holland. first, we kickoff the half hour with the stock futures. wall street had a strong close on friday. making all three of them positive in 2025. that momentum seems to be continuing on this monday morning. the s&p up 30 points.

dow would open 60 points higher off the highs of earlier. nasdaq holding steady. we want to look at the pre-market action on the nasdaq 100. we talked about the chips moving higher earlier. chips dominating the landscape. fortinet is the cybersecurity company. as e turn back to the markets, one question for the investors in the new year, the direction of the momentum in the market with the s&p closing a tick below the moving day average on friday. the dow closing below the 50-day moving average. just a tick below the 50-day moving average. another question is narrowness. a lot of question of nvidia as ces begins this week. a lot of eyes on ceo jensen huang tonight. we'll have more coming up on

that in a moment. bond yields moving higher. it brought the ten-year at 4.62 at the highest level since may of last year. we also have three economic reports this week with the potential to impact the bond market. we're talking jolts, fed minutes and the jobs report on friday. we also want to look at the energy market this morning. oil at its highest level since october. also this morning, saudi arabia reportedly raising prices for buyers in asia and the tighter supplies in the months ahead. energy prices right now. wti and brent crude pulling back. $70 a barrel and $75 a barrel. natural gas is continuing to rally on the forecast for colder weather in the northeast here in the u.s. and also in europe up over 8% right now. we have to look at bitcoin. moving higher and trading close to $100,000. right now, $98,900.

that is the set up. we turn to tech. shares of nvidia this morning. they are moving higher up .50% for the week. sorry, that was the wrong chart. take a look at shares of nvidia up right now 1.75%. up 7% this week. coming off a monster session on friday. big moves to the upside on friday. longer term, the stock has been treading water under performing on the s&p 500 the past two months months, but that could change today at jensen huang taking the stage at ces. joining me now on this is joel kalina at wedbush securities. joel, good to see you. >> frank, good morning. >> a lot of excitement of jensen huang at ces. what could he say that isn't already priced into this stock? people have incredible estimates

for growth. some people believe this stock has a huge moat. what can he say to reaccelerate this trade? >> there are a lot of moving parts to nvidia's story. i'll call it a frustration that you touched on earlier in the show. the stock trailed marvell and broadcom 20% since the election. people have been waiting for a catalyst and the catalyst path really post are earnings in mid-november was a void there. now here we are, the keynote at ces, on calendars for months now. we had earnings in late february. tonight, there is a lot of expect expectations of the a.i. robotics strategy or granular ty of the blackwell ramp. he will touch on gaming and other business. clearly, the bulls want to hear how blackwell is going in terms

of supply and demand goes. >> we have been talking about nvidia. widely held stock for institutional and retail traders. i want to touch on what stephanie link said friday on our air on trade. >> i'm not entirely convinced that mag seven will lead us into 2025. they had a nice run. i think the reason why in december they did so well is people were chasing for performance because pms were under their benchmarks. they were chasing the winners. those have been the winners year to date. >> joel, i want your take on that. weakness with nvidia. you highlighted that. in general, this whole trade dominate anning ing the market. do you believe that might change with the leadership and flows as we go into the new year? >> it's possible, but it just hasn't been a winning strategy over the last 12-to-18 months when big tech bottomed in october of 2022.

fundamentals are robust. the concerns in my conversations is if this momentum can continue and the strength over the last year plus and rates continue to rise. in terms of big tech, you have best in class margins and best in class management teams and they are dominant in their an reasons and there is no sign or evidence that tech earnings will disappoint. their capital return programs remain constructive as well. positioning is a lot more balanced than a year ago as well. there are global investors underweight in tech versus the past five years. i think that's been a big part of the return of the semis a.i. trade. positioning got a little bit lighter than we're used to and you have the furious rotation and you are a global investor, where will you put your dollars? it is the best group of

companies on the planet. >> joel, thank you very much. >> thanks, frank. coming up on "worldwide exchange," big tech continues courting of the incoming trump administration and the major policy planning by the president-elect which has the likes of apple and microsoft putting on a full-court press. stay with us. much more on that story and much more. ugh. stop waiting. start investing. e*trade ® from morgan stanley. at betmgm, everyone gets a welcome offer. e*trade ® so whether you're courtside trying to hit the over...

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up to the president-elect before he takes office. steve kovach has more. >> good morning, frank. these are the latest of so many big tech companies and ceos courting trump. microsoft and apple and ceo tim cook is offering different things. on friday, access reporting cook is donating $1 million to trump's inauguration. that, of course, comes ahead of trump's promised tariffs on imports from china which apple needs to dodge like it did in the first term. on friday, microsoft's ceo brad smith putting a blog post about $40 million for the scal year for data centers and buying nvidia chips. smith mentioned president-elect trump nine times in the post and included a number of things praising him, including for his 2019 executive order on

artificial intelligence. let's talk a little bit about what's at stake for the companies here going into the new trump presidency. for apple, like i said, tariffs. trump promised up to 60% tariffs imports on china. no comment from apple yet on tariffs or discussions with cook and trump and what we should read from this $1 million donation and they're not saying if the company is donating as well or if this is a personal donation from ceo tim cook. meantime, trump said cook had dinner with him at mar-a-lago. on the microsoft front,certify for the government. now it is calling about security after the security breach in the emails by chinese heart attack . microsoft is facing legal investigations and challenges related to its stake in openai.

not the only notable names, by the way, donating to the inauguration. openai ceo is donating $1 million. uber is donating $1 million and the ceo is donating $1 million himself. that's a taste of it. robinhood and other names we talk about are also donating to the inauguration. of course, you have to talk about elon musk. he spent over 2 on $200 million get trump elected. frank. >> the intersection with d.c. and wall street. big business in the white house. something very interesting. steve kovach from the nasdaq. thank you. coming up on "worldwide exchange," the one word every investor has to hear today. why the new grand theft auto has the top stock pick for 2025. we will reveal that when "worldwide exchange."

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welcome back to "worldwide exchange." video games are set to hit the market and at the top of the list is grand theft auto six. it can drive both sales and shares take-two being named the leader in media and entertainment. we have jason bassonet here with

us. >> good morning. >> jason, i'm a gamer. i play sports games. i have a ps 5. you have me digging deep into the blogs on this one. i want to ask about your call with take-two. it seems to hinge on the idea that grand theft auto is released this year, but i'm reading more and more it is not. how does that change your price call with take-two this. >> i would say it is integral. the thesis is the game will be released this year. if you look at what has happened to take-two stock when they released other games, you take a hit, but the stock tends to rally right back. so, even if they came out and said they are delaying this game, i'm not sure it wouldn't end up being a good performer for this year even though you suffer downside in the interim. >> we look at the media landscape and where do you see

the big picks and story lines from a.i. and addition of ads in some areas and consumer behavior changing quite a bit? >> yeah, i would just -- well, the big shifts obviously are on streaming video side and then streaming music. i would say the consensus on the buy side is everyone loves netflix and spotify. what we're trying do is a here's a name that didn't really perform well last year which is a much bigger catalyst coming up. i think another catalyst in '26, potentially with the release of red. this seems a little bit off the beaten path as opposed to playing the consensus which is go long netflix and go long spotify. >> fair enough. as we go to 2025, we look at the m&a picture being attractive for companies. you see a company with a run-up

it might be acquired. vivid seats. on speculation it might be taken over, who in your mind would see this as an attractive takeover target and what does it take to acquire? >> yeah, looking at the marketshares, i think it might be difficult from the strategic stand point, but if you look at the cash flow and balance sheet, it makes sense for private equity. >> one other thing you are looking at is something that impacts our can be here at cnbc. you see possible upside to the cable bination with comcast spinoff with msnbc and then cable networks with tbs. in your mind, what is the upside of the mbination?

>> some of the parts is where the market ignored. if we see a pure play cable business that doesn't have a lot of debt on it and facing top line pressures, that would attract value investor. then for the balance of comcast which has the theme park business, they would benefit from the warner bros. studio and streaming with max and peacock. i think it makes a lot of sense for both sides, but really the stock overall is warner bros. realizing the parts value. >> jason bazinet, thank you. great to see you. >> thank you. coming up here on "worldwide exchange," what our next guest sees as a key investing trade since the election. we will reveal our mystery chart mi uafr congp tethis. if you haven't already, follow our podcast on apple or spotify or other podcast apps. much more coming up. stay with us.

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welcome back to "worldwide exchange." as we close in on the 6:00 hour, here are things we are tracking. kugler and mary daly say the fight against inflation is not done yet adding they don't want to harm the labor market to hit

2% inflation. and italy struck a deal with spacex worth $1.6 billion. this as united airlines is testing starlink service in flight with the plans for commercial rollout in the spring. and asian shares of foxconn are increasing for the strong demand for servers. global chip stocks rallying on the back of the results. we are looking at south korea. officials are looking to extend the arrest warrant for impeached president yoon suk yeol after the failed arrest attempt on friday after the hours long standoff with police. amazon's prime video announcing a licensing deal about former and future first lady melania trump. this comes days after jeff bezos

plans to donate $1 million to the donald trump inauguration fund. turning back to the markets. looking to carry over the momentum into the trading week. futures in the green across the board. the dow close to flat right now. well off the highs of earlier today. the s&p is about where it was throughout the hour. up 26 points. nasdaq up 150 points or .75% of 1%. let's bring in kevin maun. thank you for being here. >> my pleasure. >> let's start off with your word of the day. how do you see this day shaping up? >> my word of the day is selective. i think there are more growth opportunities ahead in 2025. investors need to be selective to find the growth opportunities. the leadership that the mag seven provided to the markets the last two years, investors may not necessarily be able to count on the mag seven to provide the leadership going forward. frank, going back to 1950, there have been nine times the market has rallied 20% or more.

the good news is the market was higher in eight of the nine times. we need to be more selective in the new year to find growth. >> i have to say, some of the historical data points we have seen have falling apart. santa claus rally, s&p closing the year down four straight sessions. it seems like a change. are we set for another change later tonight with ceo of nvidia jensen huang speaking at ces. does that have the potential to accelerate in the near term? >> absolutely. i think nvidia is the hub of the ecosystem. a.i. is a long road filled with pot holes. there will be more losers than winners. nvidia will be a winner and they will remind us that the a.i. revolution is still going strong. >> let's talk about the fed. you gave us ten investing tools for 2025. one is bull market and the other

is the long game of the artificial intelligence. we just hit on that. the pace of interest rate cuts. we heard from kugler and daly and that's what they're saying. how should it change the view people have on the market and investments? does that make you more nervous or should investors stay an narrow, maybe not on the mag seven for the mega cap tech names? >> the path is lower. we are expecting 50 basis points in rate cuts this year as opposed to 100 basis points of rate cuts we were expecting back in september. we get another 50 basis point cuts in 2026 and perhaps lower in 2027. if the path forward is lower short-term interest rates accompanied by moderating levels of inflation, that provides tailwinds for stocks and bonds. again, don't limit yourselves to the seven large cap technology stocks. look at other areas like

bio-tech and aerospace and defense and others that have not participated yet in the rally. >> i want to get to your pick for today. what is your pick for today and why? >> my pick is ome therapeutics. major depressive disorder. alzheimer's disease. all of these areas are likely to be attractive to larger cap pharmaceutical companies who need to be quizzative to put more on the prices. they have several large producing drugs coming off a patent. they have axsome therapeutics. >> it is at 3%. if you go back to the election, the election was supposed to able tailwind for bio-tech.

it is out performing the rest of the sector. why would you put none money in stock right now that is supposed to be a tailwind when you mentioned the headwinds of the industry? >> the stock is up double digits in the last one year and three years. they have drugs in level one or two status with the fda. our research suggests that's the type of companies and drugs that pharmaceuticals are attractive. this is one of the drugs they want to add to their pipeline. i think axsome is one. >> kevin, thank you. axsome. we have to wait and see. thank you for being here. >> my pleasure. we want to look at what's to watch in the week ahead. results from delta airlines and walgreens and constellation and more. we have adp figures ahead of the friday jobs report. the markets are closed on

thursday and friday for the state funeral of former president jimmy carter. ces runs all the way through friday. a very busy week ahead despite the markets are closed on thursday. before i let you go, i want to look at the futures. in the green across the board. i take that back. the dow actually slipping in negative territory. s&p and nasdaq in the green. that does it for "worldwide exchange." "squawk box" starts right now. good morning. global chip stocks jumping overnight after foxconn reported a 15.2% jump in revenue. meanwhile, house speaker mike johnson winning the vote to retain his gavel. now he's reviewing how republicans plan to tackle president-elect trump's legislative agenda. we have details on that straight ahead. plus, united airlines accelerating a plan to bring starlink in flight internet to its airplanes. it's monday, january 6th, 2025

and "squawk box" begins right now. ♪ good morning, everybody. welcome to "squawk box" here on market site in times square, i'm becky quick along with andrew ross sorkin. joe is out today. >> happy new year. >> great to see you. let's look at how the u.s. equity futures are shaping up at this hour. there are modest advances, dow futures up by about 7 after closing down on friday. s&p is up by about 26, it had an up day on friday, up by about 1.25%. the nasdaq had its best day in two months back on friday. you are looking at significant gains, up 1.75%. all three of the major averages did close lower. if you are watching for that santa claus rally at this point, no, not going to happen.