it's 5:00 a.m. here at cnbc global headquarters. welcome to "worldwide exchange." here's your "five@5. the deadly wildfires in l.a. continue to spread now burning in the famed hollywood hills. we have a live report this hour. a tentative port deal is reached to avoid a strike from new york to houston. chip stocks under pressure with curbs from the white house. and quantum computing back

from jensen huang. and the nation remembers jimmy carter it is thursday, anuary 9th, 2025 you are watching "worldwide exchange" here on cnbc good morning thank you for being with us. i'm frank holland. thank you for joining us on this day. i want to look at the live pictures right now these are some of the surreal and nightmare scenes captivating the world. this is a live shot of los angeles, california where wildfires are continuing to rage there are five fires burning and the palisades fire grown to 17,000 acres this is the most destructive fire in los angeles history. we will have a live report from the scene coming up later this hour. first, a look at the stock market following the release of the latest fed minutes the futures as you can see a down notoriety now when you look

at the futures s&p and dow and nasdaq down fractionally you know a fractional move to the down side. the stock market is closed for the funeral of u.s. president jimmy carter this is the rotunda where president carter well lie in state until his funeral. we will have full coverage on cnbc the stock market is closed, but the bond market is open until 2:00 p.m major u.s. equity futures will trade until 9:30 a.m. eastern time today. turning back to the markets for the week markets are pace for a losing week with the indices and russell 2000 trading lower take a look here important to note the russell is down 9% from the november high here is the week to date action. dow down .25%. the nasdaq down .75% of 1% the russell with the biggest weakness down over 1.25%

quantum computing stocks putting pressure on the small cap index. ionq is the laggard in the index yesterday. you see the huge declines week to date. this is following comments from nvidia ceo jensen huang about the longer timeline for quantum computing. that is sparking the selloff in the stocks you see the downside moves ionq down 30%. d-wave down 30%. rigetti down 45% we are seeing fresh pressure on nvidia following the new report on export curbs coming from the white house. nvidia now 9% from its all-time high we will have more on that in a moment you see more downside moves after the all-time high earlier this week following jensen huang's comments at ces. big declines in nvidia stock done more down more than 4%. we will talk much more about the

sector and top pick in the space from one big bank coming up late later in the show. both meta and alphabet traded lower. you see healthcare, the best performer yesterday. defensive sector we want to check the bond market yields are a major reason for the pressure on equities ten-year hitting the highest level since april. right now, you are seeing yields pull back just a bit the benchmark at 4.67. the 30-year at 4.90. the yield pressure, however, has continued to hit bitcoin look at bitcoin back below $95,000. down .50%. week to date, down 5%. yields have continued to rise. remember, u.s. equity trading is

closed for today cnbc will have special coverage for the funeral of jimmy carter at 9:00 a.m. eastern time. we have more on the trade in europe with silvia amaro in london silvia, good morning >> good morning, frank the market narrative we witnessed in the bond market on wednesday has been front and center for global investors today. let me show you the equity space. we were down in the japan market nikkei down .90% these moves came with the bond selloff easing a little bit throughout the asian session let me bring you back to europe because once again, the concerns with the hard hit inflation and perhaps not with the fed cutting twice this year and all this in

the minds of the european investors. we have a mixed picture. investors trying to understand how to position their stock portfolio amid those growing concerns in the bond market. it's there where i want to focus. let me show you how european bonds are moving with particular focus in the uk in the bond market over here we actually have the yield on the ten-year gilt at the moment moving higher at 4.851%. we are overall tracking levels we have not seen since 2008. one of the points of concern for investors here is indeed what is happening in the u.s it is the market narrative we are inheriting from wall street yesterday, but also questioning the fiscal position of the labour government. we will see if they address the concerns in the bond market. frank, that is the most important market for the european markets today >> silvia amaro, thank you time for the check of the

corporate stories, including fresh push back from jensen huang's outlook on quantum computing. silvana henao is here with that story. silvana, good morning. >> frank, it really is getting interesting. speaking with cnbc yesterday, the ceo of d-wave quantum is calling out nvidia ceo jensen huang on quantum computing calling his timeline for the technology dead wrong. listen in. >> the reason he's wrong is that we at d-wave are commercial today. we have companies like mastercard or ntt or pattison food group using our quantum computing today in production to benefit their business operations not 30 years from now, not 20 years from now, not 15 years from now, but right now today. >> and just look at the move in d-wave stock in one year over 665%.

it is down more than 30% this week elon musk scaling back his expectations for the department of government efficiency speaking during a live chat on x last night, musk calling his goal of $2 trillion in spending cuts a quote best case outcome he knows people in the government who care abouteffect the system prevents them from doing so. and president biden reportedly planning one more round of export restrictions of a.i. chips during his final days in office. the aim is curb the chip sales on a company by company basis to avoid getting in the hands of russia and china in a statement, nvidia says the last-minute rule restricting exports to most of the world would not reduce the risk of mi use, but threaten economic growth and u.s. leadership frank. >> a lot of pushback

nvidia pushing back against the white house and quantum ceos pushing back to say jensen huang is dead wrong. one is like the 500-pound gorilla these days we will have more later in the show silvana, see you later on. we turn our attention to a developing story and a tentative deal to avoid a strike on the east and gulf ports. the semi automation deal was reached. the full details are not released this will the ila union can vote on the deal until then, the port operators will work under the current agreement. a number were in favor of the modernization at the ports that handle two-thirds of exports ila released a statement in part, saying this protects jobs and a framework for technologies to create more jobs and

modernizing east and gulf ports and framing the capacity to keep the supply chain strong. the ila president called donald trump a hero and giving him credit to avoid the strike shares of mersk falling on that news. back to the markets now. the global bond selloff is easing the yield on the u.s. ten-year pulling back of 4.73%. the highest level since last april. the dollar index is edging up sitting not far from the highest level of november of 2022. the latest yield follows a stronger economy markets are fully pricing in one quarter point cut. they see a 60% chance of a second cut and a 15% chance of

no cuts whatsoever joining me on the cnbc news line is daniel morris at bnp paribas. thank you for joining us. >> my pleasure >> the dollar gaining 5% or 6% on the euro over the last three months wells fargo making a call they believe the dollar/euro will reach parity in the first half of the year. do you agree >> certainly like everyone, i anticipate the dollar to remain strong we had the fed, but prior to the fmoc meeting, you have a strong dollar you expect to see the moves from the trump administration at this point, it won't be a shock. generally, frankly to the degree that reflects u.s. economic strength in addition to the fed. it still should be good for u.s.

equities that's why we, like a lot of people, are overweight u.s. >> i want to get back to the yields bonds they are rising over in europe how do you see that impacting the markets? does that change your view in what markets are more a ttractiv whether it is u.s. or global stocks. >> it is an interesting dilemma for the european central bank. they like to be cutting rates, but they are not operating in a vacuum and what the fed does has an impact on the rest of the world. you see the expectations for the policy rates rising in the u.s that is really the dilemma there. the disconnect with what they can do with the monetary policy side and weak wth. whereas in the u.s., the economy seems to be much more able to handle that than other economies outside of the u.s. >> a lot of focus on the central banks in the last couple months. idea of cuts or hikes is a key

function they have here in the u.s., a lot of the idea of more cuts hinges on the idea of inflation moderating and the job market staying strong. i want to get your take on what janet yellen said yesterday on our air on cnbc. >> the rate of inflation has come way down. it's now pretty close, quite close to the fed's target. so, prices aren't continuing to rise at anything like that pace. it's now very close to normal. >> so, daniel, your take on what janet yellen had to say. >> the last pe with inflation on a year on year was 2.8%. frankly, it has been at that rate for many months now similar to the eurozone. we don't see the deceleration that you want to see at the same time, central banks are forward looking. they are not supposed to be

taking positions on what is happening with inflation right now, but in 12 months. from that point of view, you may see the deceleration of inflation. if you look at market measures, there is more skepticism how quickly that will happen >> daniel morris of bnp, thank you very much. coming up on "worldwide exchange," my next guest says is a buy. first, the latest on the deadly wildfires that are forcing tens of thousands of people to evacuate. plus, the economic legacy of president carter and what people can learn from his four years in office more "worldwide exchange" coming up right after this. he has 3 comments 2 memes and 4 emojis to contribute. a flood of positivity... during every. single. meeting. but oh how his passion for product management takes your team from level zero to level... zane.

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welcome back to "worldwide exchange." we are following breaking news this had morning out of the california wildfires continue to rage at least five people are dead and thousands more ordered to evacuate some of the worst hit areas. officials are calling this blaze the most destructive in los angeles history. nbc news correspondent dana griffin is joining us from al alta dena, california >> reporter: frank, good morning to you that's right this is one of the most destructive wildfires anyone has seen in this county. you talk to people -- people who covered fires or firefighters who battled fires like this,

they say they never have seen anything like this i'll walk you through some of the images we are in altadena neighborhood where the fire came through with the vehicles are to their shell. the s carried in the winds. we stepped on something, that was the pop you heard. the embers hop scotched through the neighborhood you have some vehicles torched like this one, but further down the road, you have some vehicles untouched. we actually hear a cat stuck in one of the ehicles this jeep. th under the hood trying to get the cat out. he appears to be hurt. we will try to get to him after this hit this paints the picture of what the entire neighborhood looks like these flames you see are from gas lines that appear to be on because they're like torches

you see this at almost every house on this block. you have one tree stump here that is smoldering maybe that tree collapsed or blew during this wind event because there's just a lot of debris and branches all over the place. the only thing standing at this home, frank, is a mailbox. you can see the numbers that appear to be glitter that's the only thing you can appear to make out another burned shell vehicle here the other thing you are concerned about with fires are power lines. we saw one that was on fire as we were driving. it's apocalyptic you hear that word these last few days and we're hearing this cat that's stuck in this vehicle right now. hopefully it's doing okay. frank. >> dana, first and foremost, i hope you are staying safe. this fire is one of the most destructive in the history of los angeles. right now, you appear to be in a

residential area based on reports, i know some of the big landmarks in hollywood are also threatened by these fires? >> reporter: you know, i think last night that was a big concern because you have the sunset fire in the hollywood hills and several evacuation orders have been issued and a lot of those orders have been lifted luckily that part of hollywood is not going to be damaged there is a lot ofisades areas. homes and ssynagogues. it is hard to get a full scope of this destructive situation here because right now the focus is still on saving lives there's about 10,000 acres burned at the eaton fire and another at the pacific pal

palisades. we're in an area not near the coast. the soot and ash and smoke is just sitting here. it is a very dangerous situation after the fire has burned, the air quality is a major concern frank. >> dana griffin, you stay safe thank you for that report. i know you will be out there all day today. stay safe. for everybody else, we have much more "worldwide exchange" coming up after this break please stay with us.

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welcome back to "worldwide exchange." aurora has seen shares rally 20% since tuesday when nvidia ceo jensen huang announced a long time deal. yesterday, i spoke with the ceo and co founder of aurora and i began by asking him about the nvidia partnership and what it could mean for his company over the next year. >> today, we're on the road between dallas and houston and fort worth and el paso and we recently announced to phoenix. this nvidia deal is really about empowering the future of the business from allowing a product that works to scale to tens of thousands of trucks. >> in addition to the nvidia partnership, aurora has a partnership with continental and a pair of deals that aurora has with truck makers picard and volvo. why focus on commercial freight

over passenger travel? >> we think the opportunity to improve safety on the roads and improve the ability to move goods through the american economy is critically important. we see a heck of an opportunity in trucking. we are short of drivers in the united states. we see a really big increase in the freight that needs to move as we see more businesses onshore or near-shore. we think it's the right place to have a huge impact >> you can see my full interview with chris later today on cnbc.com where we talk tariffs and regulation and his outlook for business under the new administration. coming up next, my next guest talks about the consequences of the presidency of jimmy carter and how he paved the way for others to take the house. we're back after this. it gets .

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♪ ♪ ♪ you just saw the words and wisdom of jimmy carter now taking a live look at the capitol rotunda. mourners are paying final respects president biden will join fellow world leaders at that service to deliver the eulogy for the 39th

president of the united states welcome back to "worldwide exchange." i'm frank holland. coming up, we'll have more on the life and legacy of former carter first, we take a look at the u.s. markets they are closed today in honor of the service for president carter however, major u.s. equity futures are trade until 9:30 a.m. eastern time. mixed and fractional moves trading lower. fractional moves to the down side for all three indices here in the u.s. market the u.s. stock market is closed today, but the bond market is open until 2:00 p.m. along with global and commodities and futures markets. wall street on pace with the russell 2000 trading lower dow down .25%. s&p down .50%. the russell, the biggest laggard, down 1.5%

the selloff in quantum computing stocks putting pressure on the small cap index. ionq and d-wave fell after comments from ceo jensen huang sparking a selloff in the stocks this ek. for the week, ionq down 39%. rigetti down 46% we are seeing fresh pressure on nvidia this morning as well following a new report on new export curbs coming from the white house. nvidia off 9% from it's all-time high more on that in a moment you see the downside moves from nvidia big declines you see the moves on the week-to-date chart right now, down 1% week-to-date down more than 4% let's turn back to the markets on the sector basis. 8 of 11 were positive. healthcare was up .50% healthcare is a defensive sector we will have more about the sector coming up in the show we have seen tech under

continued pressure communication services was the laggard falling ..75%. now we want to check the bond market yields a major reason for pressure on equities ten-year hitting the highest level since april. the 30-year with the highest level since 2023 the yields have pulled back just a bit. the ten-year at 4.67 yesterday, got close to 5 %. we want to look at bitcoin yield pressures continue to hit cryptocurrency bitcoin back below $95,000 town 1%. bitcoin trades around the clock. week-to-date, bitcoin down 5%. we turn to a developing story and a tentative deal for a strike to avoid a strike

full details are not released until the ila can have a full vote on the deal until them, port operators will continue to work under the current agreement. a number of trade groups have told cnbc they are in favor of modernization at the ports that handle half the imports and two-thirds of exports. we are looking at shares of maersk and hapag-lloyd we turn attention back to d.c. and the state funeral of president jimmy carter this morning, we are looking back at his economic legacy and the lessons his time in office could provide for future administrations. emily wilkins is joining us with this story emily, good morning. >> good morning, frank jimmy carter pitched himself as an outsider. that, at times, is a great way to win a national election

outsiders find out when they get to d.c., being an outsider can be a disadvantage. that was the lesson learned by not only jimmy carter, but president-elect trump, who is, of course, approaching the relationship with congress differently now in his second term for carter, although democrats did control both chambers of congress while he was in the white house, he was elected at a moment when many americans distrusted d.c. after watergate and vietnam. he butted heads with insiders in his own party. professor lori ner, who studied jimmy carter, said most are not willing to play the inside game. >> carter is a key lesson even if you have the majority, that if you take for granted the political strategy of it all, that you might not be as

successful as you hoped. >> reporter: trump also ran as an outsider, but this time around, he's taking the time to build more connections with lawmakers on capitol hill. he met with senators last night to discuss a path forward on major tax, energy and border security bill and then starting tomorrow, he is going to be inviting and welcoming dozens of house republicans to mar-a-lago to discuss packages to make sure he has support in a thin majority in both chambers. he will need those relationships, frank, if he wants to see the legislation passed you remember the first term, they were not able to get that done and they have thin are majorities this time >> manically, stay with us we want stay with us we have the editor of the wall street journal he is calling the misunderstood consequences of jimmy carter and it paved the way for reagan and

trump. thank you for joining us >> thank you happy to be here. >> emily was talking about the fact that carter painted himself as an outsider according to your story, you say that not only ronald reagan, but donald trump is walking in his footsteps. how so >> jimmy carter was the first person in our lifetime who basically ran to get to washington to run against washington he said the capitol was broken and fresh face was needed and a fresh approach was required and people should be unhappy with the establishment in washington. prior to that, kennedy and lyndon johnson and richard nixon and gerald ford. he said let's break that pattern. he won election in that way and showed it can be done and essentially showed an outsider can become the person who leads

the establishment. it wasn't a successful presidency in many ways, but in some sense, that was because forces, economic forces outside of his control i think he established the idea you didn't have to be a washington insider the fact that the country can be attracted to somebody because he wasn't a washington insider. >> emily, coming back over to you. that's similar to the narrative that president-elect trump has put forward to his supporters and voters out there one thing that is pretty interesting is the panama canal back in the news jerry, carter pushed through legislation to have control of the canal returned back to panama we see carter's ability to work with congress. many emily, do we see any policies he might try to get through congress >> for trump right now, the big one is the package they're talking about. they got to do tax policy before the end of the year or millions of americans will see their taxes go up.

they want to do border and energy because those are the things conservatives care about and they have to do the debt limit which we saw trip up republicans when they were trying to fund the government last month these are the things that they have to get done so, you have heard donald trump put forward a number of different ideas. things he would like to see between the panama canal and greenland and mexico jimmy carter when he came in, he had a lot of priorities and things he wanted to get done for the american people, but he really didn't have a sense of, okay, we will do this first and then this and then this. have the strategy. that is really what congress is debating now do we do it in one bill or two bills or include the debt limit in the major package they look to the president to provide instruction on how things are going to go and what order. certainly that is something

carter struggled to do a little bit when he got to the white house. it is something right now lawmakers are looking to trump to say we want this in one package or two packages. trump has always kept the door open to both options it is not entirely clear which way they will go it goes to show that the president really is supposed to be, in large part, the agenda setter that does require the president to come in with a list of priorities, but also an idea of what he wants done first. >> gerry, back over to you we would see less regulation, but according to you, that was a hallmark of the carter administration >> i think this is a part of the carter legacy that isn't really remembered well or appreciated he began the era of deregulation he moved in at the time of economic transformation. the country moving away from

cheap oil to one driven by services and less by heavy manufacturing. tech was making an introduction. he decided government ought to be out of the marketplace in some respects. he deregulated the airline industry and trucking industry and deregulated oil prices that started the trend that reagan picked up essentially we have to stop treating the 20th century economy as if it was the 19th century economy and government needed to have a heavy hand to things. that was an important transition point. he never reaped the benefits of that, but started the trend that became a bipartisan trend. ironically, donald trump is still talking about the need to deregulate the economy. >> gerry and emily, thank you for thensight.

on a programming note, cnbc will have special coverage of the funeral of president jimmy carter at 9:00 a.m. coming up, shares of eli lilly getting a boost with run of the red hot weight loss drugs. morgan stanley with the top pick and the shares in the year ahead when "worldwide exchange" returns. stay with us a hundred thousand delta employees so they can make every customer feel like they've arrived before they've left the ground. this is how business goes further with t-mobile for business.

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welcome back shares of eli lilly getting a boost yesterday closing up 2%. centers for medicare and medicaid increasing the drug zepbound morgan stanley names eli lilly as the top pick for 2025 we have terrance making that call good morning >> good morning, frank >> the price target on eli lilly is $1,146 from where the stock is trading right now at the same time, policy is front and center we are talking about eli lilly, how is policy impacting the narrative on this stock? >> obviously, frank, we mentioned the outlook, policy is the key thing in the bio-pharma sector and some following the u.s. election. i would say the center of that is drug pricing questions on how that plays out obviously, no real policy yet to hang our hat on, but from the eli lilly perspective, the key

focus is the zepbound for diabetes we continue to see robust growth on the volume opportunity. we think this could be a $100 billion market opportunity over the long term and we think eli lilly is getting a strong part of the market with zepbound. they recently received fda approval for a new indication for sleep apparent knee in apn. this will help the coverage of the drug in the medicare setting. we think that say positive setting. >> that is a positive development. eli lilly is the top pick. the next trend you are seeing over the next five years, $175 billion of revenue will basically fall off the patent cliff. what does that mean for the verall industry and what companies are the most exposed to that and least exposed to that >> frank, obviously, as you know, patents are at the center of the development and

innovation in the sector drug companies have patents with the drugs. the patents expire typically after 20 years companies have to continually innovate to continue to drive new innovation and outer year revenue growth they have $175 billion rolling off by the end of the decade how do companies navigate that period of time pipelines and product cycles are the life blood of the sector we talked about in eli lilly with zepbound is the key piece of innovation. the other is external innovation they look through business development and m&a to bring in additional drugs to drive revenue growth and innovation. those are the two ways we continue to see the industry being able to navigate that period in terms of lilly and why it's our top pick, they have low patent risk exposure in the decade a company that's exposed with

the under weight is bristol myers. they have a higher revenue going up at the end of the decade. >> thank you good to see you. your top pick is eli lilly coming up here on "worldwide exchange," we have the one word every investor has to hear today and the stock pick every investor needs to know. elon musk throwing cold water on expectations on his bid to rein in government spending we have the details when "worldwide exchange" returns stay with us which is not that. what's up, my brother? oh, hey, bud! we really needed this rain. right? [car splashing rain water] agentforce helps restaurants prevent dining disasters. paddle on over! it's what ai was meant to be. we got you, brother.

welcome back to "worldwide exchange." trading may be suspended today, but the treasury markets are open the yields are the pressure for equities ten-year hitting the high yesterday. the 30-year with the highest level since november of 2023 stay with us much me orwior"wldde exchange" coming up after this

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♪ welcome back to "worldwide exchange." as we close in on the 6:00 hour, the stories we are following five people are dead and thousands more forced to evacuate around los angeles as five major wildfires continue to burn estimates the loss is over $50 billion. a tentative deal on the ports has been reached on semi automation at the ports. that was the key issue full details are not released until the ila union can vote on the contract. the ceo of d-wave quantum shot up 6 650% last year has

fallen 30% >> the reason he's wrong is that we at d-wave are commercial today. we have companies like mastercard or ntt or pattison food group using our quantum computing today in production to benefit business operation not 30 years from now, not 20 years from now, not 15 years from now today. and elon musk is speaking in a live chat on x, musk calling the goal of $2 trillion of cuts the best case outcome. and president biden's aim is to curb the sale of chips from nvidia to others on a company by

company basis to avoid getting in the hands of russia and china. turning back to the markets. investors dig through the latest fed minutes suggesting a slower rate cut ahead for more, let's bring in lindsey bell at 248 ventures lindsey, good morning. >> good to see you, frank. >> lindsey, what is your word of the day? >> my word of the day today is peace in honor of president jimmy carter and all of the peace he brought around the world. he spent much of his post-presidential career focused on peace, economic progress and human rights he won a nobel peace prize in 2002 my word of the day is peace. we hope for more peace in the world. >> ppropriate for today. i want to talk about volatility. we have seen quite a bit of that in the u.s. and globally as someone who manages money,

how are you playing that are these viable dips or is there more volatility to come? >> i do think some of the dips should be bought i'm not saying you should go hand over fist to buy, but nibble on the dips i think the volatility will continue especially as policy uncertainty remains a key theme especially in the early days of president trump's second term. i think it's going to be -- it's going to create opportunity for investors. >> speaking of opportunities, do you see opportunities in the bond market? i have been speaking to investors and a lot are looking to treasuries, the middle of the curve. >> yes, sure there is absolutely opportunity. every investor should have some component of their portfolio in fixed income i think that is a smart place to be especially we will start to see interest rates stabilize here we have a central bank that is less likely to continue cutting

and more likely to remain seated. >> inflation is obviously one big issue for our central bank something they are watchings have sely. i want your take on what treasury secretary et yellen said yesterday here on cnbc. >> the rate of ngs inflation has come down quite close to the fed's target so prices aren't continuing to rise at anything like that pace it's now very close to normal. >> so, that's what janet yellen had to say agree or disagree with what she said and then the take on the fed officials had to say. >> look, i think we made a lot of progress the last couple years in inflation, but it has been sticky for the latter part of 2024 and i think there is some survey work with the pmi data or manufacturing or services and some of the wage data from the labor market has

shown inflation that could potentially be sticky to continue to tick up slightly i think there's more work to do on inflation here. >> so, you think there is more work to do on inflation. in the minutes yesterday, we found out the fed officials are looking at stronger than expected readings and taking into the consideration the trump administration policies. they believe they think it's appropriate to ease the path of rate cuts or slowdown the path of easing, i should say. does that concern you about certain sectors specifically cyclicals going forward that rallied pretty big after the election now we've seen a change in the tone of the fed >> no, it actually doesn't what you do see typically is cyclicals can do well in higher interest rate environments as long as the economic back drop supports those rates that is what we will get in 2025 that is why i'm looking at the financials and industrials as potential winners in the year ahead. i absolutely think higher

interest rates and i think the market is actually calibrating for what is a higher neutral rate going forward and you see that priced into what is expected for the fed to do this year they're not even sure we're going to get two rate cuts in 2025 so, i think the market has recalibrated i think a lot of the pullback you have seen he last several weeks has related to the uncertainty of interest rates and reduction in cuts. >> lindsey, that leads us to the question of the day. what is your pick today and why? >> today, i'm looking at financial services sector. we're about to kickoff earnings season next week in the month of december, this is the sector that has under performed. the s&p 500 down 5.5% versus the 2% decline in the s&p 500. reporting has pulled back which is a good sign this is a sector that's expected to see 15.7% growth in the fourth quarter which is among

the best in the s&p 500. there is opportunity in 2025 when you have things like stabilizing interest rates you've got deal making that is expected to pick up in 2025. we saw that with jeffries last night. you have the consumer. >> lindsey, we have to leave the conversation there that's going to do it for "worldwide exchange. "squawk box" starts right now. good morning the stock market's closed today in honor of former president jimmy carter and national day of mourning we will bring you coverage of the funeral service and speak to officials who served in the carter administration. plus, index futures and bonds and currencies are open for trading. we'll show you what's moving and the full schedule for those markets today. and wildfires continue to rage out of control in southern california we'll bring you the latest on that rapidly developing story on this thursday, january 9th, 2025

as "squawk box" begins right now. "squawk box" starts now. welcome to "squawk box" on cnbc. the markets are closed today in honor of former president jimmy carter. we do have some trading. major stock index futures are trading at this moment. they will close out 9:30 eastern time today. the treasury market will be open until 2 pm eastern time. we have energy and metal future had currencies and crypto that will trade as normal throughout the session. with u.s. equity trading closed for the day, cnbc was special coverage of the funeral for jimmy carter. in the meant