it's 5:00 a.m. here at cnbc global headquarters. welcome to "worldwide exchange." here's your "five@5." tech under pressure as investor attention moves the different parts of the market. apple seeing its worst day in months. american oligarch. over what president biden calls a dangerous conversation of power among the ultra wealthy. the interest in the red hot tech falling off what could be a signal to the end of a very brief speculation bubble. plus, the supreme court could decide tiktok's fate as

soon as today. israel approves the cease-fire gaza deal after a tenuous 24 hours. it's friday, january 17th, 2025. you are watching "worldwide exchange" here on cnbc. happy friday. good morning. thanks so much for being with us. i'm frank holland. let's get ready for the trading day head. we look at the u.s. stock futures with the major averages trading lower. take a look. in the green across the board. the s&p up .1%. the dow up .25%. opening 90 points higher. the nasdaq is the best performer up 95 points and up almost .50%. we will look at the pre-market gainers on the s&p 500 right now. taking a look. regional bank name. regions financial up 3%. followed by west pharma and

amphenol. all of them up 2% or more. thursday's move lower despite comments from christopher waller on cnbc yesterday following the cooler than expected cpi report. >> right now, i think inflation's going to continue to come in towards our target. year over year stickiness in 2024 will dissipate based on what we have seen in the last six-to-eight months and base effects coming out. i may be more optimistic of inflation coming down than the rest of my colleagues. that's what's driving my outlook for the path for policy. >> turning back to the market action yesterday. we did see a broadening. tech was the laggard. it is the second worst sector year to date. ies up 2.5%. tech was the laggard down 1.3%.

here is the interesting part. we talk about the broadening out. the s&p equal weight up 1%. .81%. the dow transports up about 1%. money going to different parts of the market. one factor, of course, we talk about the treasury market. the easing of bond yields after the better than expected cpi. the yields. the benchmark at 4.60. falling ten basis points from what we have been seeing in recent days. 20-year back below 5%. the crypto market benefitting from the move in yields. bitcoin rising above $100,000 right now. $101,480 if you look at the rest of the crypto complex, xrp and solana and ethereum moving higher this week as well. that's the set up. let's see how europe is closing the week with silvia amaro with the early action. silvia, good morning and happy

friday. >> happy friday, frank. indeed, thus far, happy friday for european equities. so far, we are seeing mostly positive day for european equities. there are several reasons behind that. i want to take you to the ftse 100 because this morning we actually hit a new record for the ftse 100. at this stage, we are up 1% in the main market in the uk. there are several market narratives to monitor, however, but one of them is a report that two companies, glencore and rio tinto were actually considering a merger at the end of last year. both companies told cnbc they would not comment on market speculation. i want to show you the week to date. what i was telling you today is different from earlier this week. we are actually on track to see several gains across the european bourses this week. the xetra dax is on track to end

the week up by 1%. ftse mib is tracking significant gains for the week. why, frank? investors at the start of the week were concerned with stickier inflation and whether we would get two rate cuts from the fed and, in fact, the economic data we obtained throughout the week, actually dissipated those concerns. so, today, we are looking at for the time being more positive vibes when you think about european stocks. let's see. >> silvia, happy friday. thank you very much. turning attention back to wall street. time now for the big money movers. apple logged its worst day since august. take a look this morning. rebounding up .50%. the move lower after a number of disappointing reports of slowing iphone sales in china. with big beats behind us, it's time for the regionals to

shine. citizens financial, regions financial, state street and truest. the etf is up 3.5% in the past three months, but still down 11% from the late november high following the election. take a look at the names reporting. regions financial moving higher before the report. citizens financial up 2%. truist is flat. and starboard has a 7% stake in qorvo. the stake is expected to be revealed in a filing today. starboard is looking for changes. shares of qorvo up 7%. back to the broader markets. the major averages are on base for the best week in more than two months. banks are the top sector this week, but the kbe is up 6.5% on

the solid results from citi and goldman. brian moynihan telling becky quick customers are growing confident about the economy. >> what you are seeing is the combination of belief that regulatory burdens are less and interest rates come down because they borrow on lines of credit on short-term rates. in a belief there will be better products because customers are spending strong. they have moved dramatically. you see it in the small business confidence levels moved up dramatically. same for the mid sized companies. >> joining me now is lizzie evans. good morning. always good to see you. >> good morning, frank. happy friday. >> happy friday to you. brian moynihan says his business customers have confidence. i want to talk to you about investors. i was looking at the money

market funds and the number declined. i don't remember it declines in months or years. declining $50 billion. still $6.8 trillion. are more of your customers or clients trying to put money in the market? are they seeing opportunities right now? >> frank, it's a great question. so, i think moynihan's comments are consistent what we are hearing across many of the fortune 500 ceos with more confidence than ever in the stock market with the incoming administration. think from a retail client perspective, us mentioned a tremendous amount of cash on the sidelines. any dip should be used as a buying opportunity. i think that's what you have seen in the past week. >> are you focused of putting money in some of the beaten down sectors? we talked about it here on the

show. energy is the best performing sector this year. tech is the second worst performing sector this year. we saw a broadening equal weight and money going to dow transports? >> we are seeing volatility in the market. for clients what are underweight and names they want to own for the long term, it is a great buying opportunity. you have to look at the fundamentals of the underlining company. you really need to still be focused on high quality. look for companies that are generating a lot of cash flow and can continue to do well in the higher interest rate environment and low debt roads. with that factor based analysis, there are opportunities and volatility creates opportunities to buy at a lower price >> i think the question i'm asking you, is this an opportunity to buy the dip and tech in particular? again, it's down more than 1% yesterday and gown down for the.

is this an opportunity to buy and rebounding at the start of the year? which side would you advise clients to go to? >> i think tech will lead this market going forward. again, if you look at the magnificent seven, three sectors are represented in the magnificent seven. you have to look t the underlining company. i believe tech will lead the market higher. i think we are still in the a.i. evolution that the growth cycle can continue for another three-to-five years. as you see companies report and as you look at the underlining fundamentals, there are opportunities, but i do believe tech will lead. >> one part of the market that your clients are interested in are bond. are you in favor of short-term bonds or long-term bonds or bond yields rising? >> it's a great point. several there's been multiple opportunities over the last year for clients to lock in

for our client base who have been underweight bonds, we increased bond allocation, but we are equity focused and equity biased. we are for clients who want to have bond allocations, we are locking in yields for longer. >> you are saying longer duration bonds is what you are advising clients? >> yes, exactly. >> the 20-year hit 5%. the 30-year not at 5% or close to 5%, but elevated over what we have seen. you like longer duration. lizzie evans, thank you. >> thank you. turning attention now to the middle east and a developing story this morning around the israel-gaza cease-fire deal and turn around from 24 hours ago. prime minister benjamin netanyahu says a deal has been reached to return the hostages held in the gaza strip. he adds to convene the security cabinet today and approve the

cease-fire deal. the deal is expected to come in three phases starting sunday with the exchange of palestinians in prison by israel. we are watching the oil market. wti crude up just about .50% trading at $79 a rrel. coming up on "worldwide exchange," we have a lot more to come including the big bank that seems to be on everybody's shopping list. first, retail traders are hesitant to jump into equities to kickoff the year with a few notable exceptions. plus, fireworks on capitol hill yesterday courtesy of scott bessent and lawmakers. >> with so few people with so much wealth and power, do you think that is an oligarchy form

of ciety? >> senator, i think it depends on the ability to move up and down the income. >> that's not the answer. >> we go live to d.c. with more on what's at stake starting on monday, of course, that's what he the inauguration is. later, trouble in the sky for spacex with a rapid disassembly mid flight. others cl ital an explosion. we'll have the latest when "worldwide exchange" returns. stay with us. - right? - mmm... this store doesn't have agentforce, so an ai agent didn't tip off the stylist as to what i might actually wear. - 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. ♪♪ ♪♪ amazing.

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welcome back to "worldwide exchange." checking markets in asia after the chinese economy grew 5% last year. the nikkei down .1%. hang seng up .13%. the number hatchmatched estimate. turning back to the markets stateside. a wild week for quantum computing. the 50-point swings between monday and today. the move is coming from an unlikely source. retail investors. according to my next guest, their attention could be waning. good morning. thanks for joining us. >> thanks for having me. >> when we take about retail

traders, you can't sample everybody. what group? >> we are looking at those traders that go home and trade through taxable brokerage accounts. in the way, it is the purest form of animal spirits in the investor community. we are not looking at ultra high net worth through an adviser. we are looking at, for example, chris, 25 years old from ohio and trades on the lunch break on robinhood. >> the people on "worldwide exchange" and hear the picks and go on the fidelity account or schwab account. >> yes. >> we talked about the quantum computing trade. big swing. we saw declines after jensen huang said it is 10 or 15 years away and then christian kline was bullish on it and microsoft was bullish on it. what's going on in the quantum space? >> we feel retail investors have

shifted within the broader a.i. theme on to the newest trend which is quantum computing after the news some of the stocks usually have smaller free float and high short interest ratios and we see signs of a typical retail driven squeeze which gets ied by investor flows. what happens is we are seeing some of the patterns in the steam reflect also similar patterns we have seen in early stage thematic bubbles by retail investors. we have to ee whether at the end of this quarter or the end of this february, march when they start porting earnings if that matches what the street is expecting and you get a bid from institutional investors which usually extends. >> for people listening, we are showing the graph of the bubble where people buy dips as we call

it a dead cat bounce. i want to talk about the trade that short sellers actually benefit from this. who are the short sellers? who are the people shorting it? you mentioned reddit rebellion a few years ago. what's going on with that? >> in the market, there is always a cohort of investors that will tend to benefit and profit from companies or based on fundamental views take the other side of the long. a lot of times when you have thematic stocks, those see heavy flow of short seller interests the institutional side. in a case like this, this is part of the broader theme which is the a.i. semiconductor theme that retail investors absolutely love. as you and i also look for the next potential big winner which is nvidia for retail investors over the past couple years, they are moving down the risk curve

and landed on quantum computing stocks. it is a bit of a battle with retail investors having the better of it over the last few months. from now onward, that is where the litmus test comes through with earnings and the retail and institutional investors. >> interesting dynamic with the two sides. >> absolutely. >> you put out a report at the end of the year, retail traders out perform the market. 41% gain in 2024. how did they do it? i'm sure a lot of people are saying what were they doing? >> absolutely. we're looking at the very aggressive more speculative side of retail investors. the cohort i said goes home and trades on robinhood or puts on the more aggressive trades. what we see is that there's a 60% to 70% exposure to growth stocks. consumer tech and tech stocks. tesla and nvidia are two key stalwarts. tesla went on a massive run and

nvidia has been on a two-year tear. that helped out perform the s&p last year and they out performed the nasdaq. itis the heavy ex-posure to nvidia and tesla. >> we have to go. i have to ask do you see that potential to happen this year? interesting stat. 41% gain for the year. out performing the s&p. >> yes. it could be depends on the market if nvidia is the leader in 2024. we think retail investors will continue to buy in the space and perhaps go a bit more aggressive this year. depending on how the l market. >> marco, great to see you. thank you. >> pleasure. still on deck on "worldwide exchange," one final push in the global a.i. arms race days before donald trp tas erumkeov. we have the full story when

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welcome back to "worldwide exchange." the super power, u.s. and china, are locked into the a.i. arms race. the biden administration makes the latest move to guarantee american innovation. we have megan cassella with more on the story. megan, good morning. >> reporter: frank, good morning. it is a two prong strategy with the crip hips production and ch act. commerce issued its latest and last package of rules with the sharing of chips is unrestricted. they narrowed that list to 18 nations. that move brought blowback from industry. nvidia warned global progress on a.i. was now in jeopardy. the head of the agency sat down with cnbc yesterday and defended the move saying it threaded the needle between national security

and business. >> i want huang to be successful and applied materials and i want amd to be successful. i want intel to be successful. we're doing that on the chip side, too. i don't think the rules we put in place are actually going to impact that as much as they think. >> reporter: estevez expects the systems to be built out. one question remains of how effective this has been. >> i know i'm annoying the chinese and not because that's what i want to do, but because we are impacting the ability to get the advanced semiconductors and advanced tooling to make the semiconductors. we're impacting the ability to modernize the military. >> reporter: the rush to get the latest set of rules out this week was partly to clear the

decks for the trump team and partly because some estimates say our a.i. technology is 6 to 18 months ahead of china's. when it comes to national security, every week counts. frank. >> megan, do we know how the trump administration feels about the measures and if they want to undo it, do they have the ability to undo it? >> reporter: they certainly have the ability. this is all done through executive order and federal rule making without congress. the next team can come in and undo it. estevez is optimistic they would keep it in place. it is not a foregone conclusion. the trump team in the first term put restrictions on huawei and those kept building up. trump likes having leverage over china and over companies who have to come to him and ask for exemptions. it is possible he keeps it

going. >> megan cassella in washington, d.c. thank you. coming up on "worldwide exchange," president trump making to look crypto the number one on first day in office. we'll talk about it after the break.

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people with so much wealth and power, do you think that is an oligarchy form of society? >> senator, i think it depends on the -- the ability to move up and down the -- >> that's not really the answer. >> so that was senator bernie sanders and treasury secretary pick scott bessent clashing during the hearing calling what biden calling an oligarchy issue in the united states. welcome back to "worldwide exchange." i'm holland.frank holland. coming up, more on the matter and the interest that are fuelling close ties to the incoming trump administration. first, we kick off this hour with the check of the stock futures of the major averages. s&p 500 and dow breaking three-day win treaks. in the green right now. the dow would open up over 100 points higher.

nasdaq up almost 90 points as well. let's look at the gainers. micro strategy moving more than 3.5% higher. followed by lam research and asml holdings and applied materials and broadcom. we saw a broadening in the market yesterday in tech. utilities rose more than 2.5%. tech falling more than 1%. speaking of the broadening, we saw the s&p equal weight close higher in the market. the s&p equal weight closing almost 1% higher. dow transports closing almost 1% higher speaking to the broadening. one factor we may see going forward is the easing of bond yields after the better than expected cpi. the benchmark at 4.59. we have seen the 20-year fall back below 5%. we saw it above 5% in recent days. also, we have to talk about

cryptocurrency. micro strategy is the best in the nasdaq 100. bitcoin benefits from the easing in bond yields back above 100,000. trading at $102,200. up 1%. ethereum and solana and ripple trading higher this week. we are watching the energy market. oil especially. the israel security meeting to vote on the cease-fire after the delay from prime minister netanyahu. take a look at oil. oil prices moving higher. brent crude up .13%, but off the highs of earlier this week. wti hit $80 a barrel. we are watching shares of apple after closing down 4% yesterday for its worst day since august. shares up .50%. week to date, apple shares down more than 3%. that is the set up. we turn attention over to

washington and the confirmation hearing of scott bessent. trump's treasury secretary pick. hit on a number of hot button issues with tariffs and the outlook for wall street and main street and the d.c. spending habits. >> and to be clear, this is one of the things that got me out from behind my desk and quiet life and this campaign was the thought that this spending is out of control. >> he believes we probably gotten over it on sanctions and sanctions may be driving countries out of the use of the u.s. dollar. so the tariffs can be used for negotiations. >> i believe wall street has done great the past few years and that main street has suffered. i think it's main street's time. wall street can continue to do well, maybe not as well. >> as you just heard moments ago, bessent sparring with

senator bernie sanders whether an oligarchy is taking shape in the u.s. this is after the warning president biden in his farewell speech on wednesday. for more, let's bring in eamon javers. eamon, good morning. >> reporter: good morning, frank. the ceos of the technology and media companies will be seated on the platform for the inauguration of the american president. here's what we ceos of amazon and x and microsoft will be on the steps of the capitol for the swearing in with stakes for donald trump. this goes back to the question if these folks count as an oligarchy you raised. for tim cook of apple, it is tariffs on chinese goods. trump called for tariffs as high

as 60% and said apple is said to produce as much of 5% of iphones and macs in china. jeff bezos has contracts with the federal government and smaller rocket company blue origin. he feuded with trump in the first term in office has sought to mend the relationship visiting mar-a-lago in december. decided to decline to make endorsement in the election. the stakes are dramatic for sundar pichai with the breakup looming. the justice department will make the decision in the case. that may be an opening for google here t.. it is more personal for mark zuckerberg. trump threatened to end the

meta ceo to prison. trump would not have the power to do that directly as president, but his doj would have the power to initiate investigations. zuckerberg has enormous interest in the outcome of tiktok that compete was facebook and instagram. elon musk has been by the president's side at mar-a-lago nearly day and night since election day. nearly all of his companies are tied up with regulation and contracts. he has been floated as a potential buyer for tiktok in any trump-brokered deal that may be to come. all of these figures, frank, are on the west front of the capitol for the swearing in. all have enormous stakes in the decisions that president trump will make. back over to you. >> all of them inn influential

ceos. do we know where people sit? is there a pecking order? in the nba, they call them camera seats. are there certain seats people want to be in? >> reporter: there are definitely camera seats. there is a pecking order. there is a riser effect on the platform behind the president of the united states as he is sworn in. the family and friends and closest to the president of the united states there as well. previous presidents who choose to attend will be there. you go back to the senate, members of the cabinet, then up the riser you get, more and more obscure people. one of the big things we are watching for is where the ceos sit. we have not seen a cotterie of ceos attend. will we see a number of ceos all

sitting shoulder to shoulder? we don't know. we will be watching on monday. >> you threw me off. this all seriousness. we heard from jensen huang. he won't be there. he is celebrating lunar knew new year in t'aipei. how is it decided in? who gets to come? >> reporter: that's a really interesting question. we don't know how this all started, frank. we don't know if the companies are pitching trump or trump pitching the companies when it comes down to it. we know each executive has made the pilgrimage to mar-a-lago to meet with president-elect trump or had had a meeting with president trump and his team. we don't know if trump as a gracious host offering why don't you come to the inauguration. we do know that trump has spent a lot of time thinking about who is going to be there and what message that sends to the world. he invited xi jinping, of course, to the inauguration.

the chinese leader. the chinese leader is not coming, but we did learn yesterday the chinese are sending their vice president to the inauguration. that is the first time the chinese leader has been seated on that podium as well. this is a president-elect who spent a lot of time thinking about who gets an invade here -- invite here. >> eamon javers, thank you very much for that report. a lot of interesting stuff there. we have to wait and watch than see on monday. speaking of that, cnbc will have special coverage with stanley druckenmiller and david rubenstein and walter isaacson at 8:00 a.m. eastern time on cnbc. coming up, spacex with the

rapid disassembly with the ckauh d roet lncanheadaches it created for airlines when "worldwide exchange" returns. stay with us. ♪ you know, at verizon, we'll pay off your phone. and you'll get iphone 16 with apple intelligence, on us. now with genmoji. that's a value of up to sixteen hundred dollars. only on verizon.

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carrier in the united states. shares falling 10% following earnings. coming up on "worldwide exchange," the one word that every investor has to hear today and the stock pick every investor needs know. the etfs our next guest should tap into with the year inflows. we'll be right back after this break. it's all the things that keep this world turning. it's the go-tos that keep us going. the places we cheer. trust. hang out. and check in. they all choose the advanced network solutions and round the clock partnership from comcast business. powering more businesses than anyone. powering possibilities. good morning. dad, what is this? how many did you post? they're all from last night. it's going to go viral. and then you're not going to be so upset.

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on "worldwide exchange." net inflows topping $25 billion year to date following a record in 2024. we are tracking the moves above the 30-day moving average for the funds and qqqs. take a look at the markets on pace for a winning week as we head into inauguration day on monday. joining us to talk inflows is david. david, good morning. >> good morning. thanks for having me. >> we have seen pretty big swings that market. we saw a big day for tech. still the laggard. second worst laggard year to date and another down day yesterday. what are you seeing when it comes to inflows with the market volatility? >> look, the week is sort of small. the market is up 1% on the year. we are seeing a lot of sort of under the surface flows. over the last week, we have seen

flow s into momentum funds. we have seen some flows into tech. muted really. coming off last year, $1 trillion flow into etfs. we saw listings sky rocket with new names. it is not surprising to see a light touch from investors this early in the year and especially before next week. >> for people worried about volatility, is there a way to play that in the markets, but address volatility? >> definitely. the best way to address volatility is to sort of spread out your exposure is the way we think about it. again, we had two 20% years in the s&p. it hasn't happened in 25 years. i think 1998 is the last time that happened. so, you want to have exposure. you want to enable yourself to have upside. you don't want to take chips off

the table. you want to embed some protection. i think of that by using quality and volatility screens on your products. we have an etf with low volatility etf qlv. that's a great name for this market environment. >> often investors play to the news of the headlines. we have a huge headline coming up on monday. inauguration of president trump. if you are someone who wants to play the themes the incoming president talked about is energy, tariffs and changes in trade policy. what ways could you play that? >> look, you know beyond that, i think he's also going to be a very pro-business and take the reins off people quite a bit. we think of it as playing from the natural resources landscape. we think it's going to become

ease everybody to mine.-- easie. there is lots of developments there. i think of natural resources for one and infrastructure as the second big theme that you want to be investing in. >> do you have etfs to play that? >> of course, we do. our biggest name is the flex shares global up stream natural resources fund. gunr is the ticker. it provides a little bit of inflation protection. it is sensitive to inflation, obviously. you have the infrastructure theme. nfra is our ticker. it is the broad global infrastructure fund. if you think about the new inauguration and the new administration -- i was just going to say the president's new bff is an infrastructure guy. really, infrastructure is going to be front and center when you

think about it. >> david abner, thank you for the picks. have a great day. >> thanks, frank. coming up on "worldwide exchange," the stock our next guest says is up 6% on the back of earnings. that name revealed. our mystery chart will be revealed. stay with us.

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welcome back to "worldwide exchange." as we close in on 6:00, a few stories we are tracking. the decision on tiktok with a possible ban set to take effect on sunday. one president biden will not enforce. the spacex rocket breaks up after taking off in texas. the company called it a rapid disassembly. dozens of flights changed course because. of the debris. and president trump will eye crypto moves once he takes office. it will give the members of his administration a voice. and shares of qorvo are popping. starboard value has a 7% stake in the company. shares up 7.5% right now off the highs of early this had morning.

and reports out that rio tinto and glencore about a potential merger. we are seeing movement in both of those stocks. glenother glencore up 3%. other mining stocks on the back of those reports. moving back to the markets. the u.s. markets hit a pause button yesterday after christopher waller saying it is possible there could be three or four rate cuts this year if inflation continues to cool. let's bring in jay woods, chief strategist at global markets. jay, great to have you here. >> good morning. >> what is your word of the day? markets are on pace for a winning week. >> we're in limbo right now. this, to me, is more of a relief rally. we are waiting for the catalyst to take us above the 50-day

moving verage and recent downturn or fade back. we had the nice run up after the election and it faded. let's see where we are. the catalyst could be a few things. fed policy. fed officials are all over the place. you mentioned waller with three or four cuts. that was a little aggressive. then you have the uncertainty of what the trump tariff policies are going to be. that's what traders are focused on most. doge. will that affect unemployment? the fed meeting next week. we are waiting to see. we're in the limbo mode waiting for the next pivot point. >> we don't know what the president-elect is going to say. we know about crypto and other things he promised to do. the markets are in a wait and see mode? >> no doubt. tariffs are top of mind. go back to trump 1.0 in 2017.

slow and steady. up every month. 19% gain in the s&p 500. volatile headlines because you don't know what he will say. what derailed it in 2018 was tariffs. we got into the trade war with china. we had a 10% correction. i think we are still in the throws of the 10% correction that started in late december. nasdaq down 7%. dow, 7%. if we can't break out next week, then there could be one leg lower. if we get a leg lower, it will be a great buying opportunity. >> we want to get to your in a second. what do you make of the broadening? the s&p equal weight. >> that is up for the year. things are looking good there. the broadening, utilities led. the leadership is more relief rally. we are seeing energy come off the lows. materials were decimated. healthcare getting a bounce. this is good.

it's not the strength i want to see. i want to see technology come back. semis started to lead a little bit yesterday. that's a good sign. >> what's your pick? >> jpmorgan is my pick. we're in earnings season. earnings is what we focus on once we get through the earnings period and waning tariffs. who kicked us off? jpmorgan. they crushed it. dimon usually puts a cloud over his earnings. he wasn't that pessimistic. so, to me, the earnings net interest income, low expectations. they exceeded that. the earnings were just out of the park. jpmorgan and goldman and what citi did yesterday. these are the stocks you want to lead. m&a activity picking up. two mergers this past monday. to me, things are looking good and jpmorgan is the top of the class. >> we had three ipos this week. one of the first a.i. ipos this

week. jay woods, jpmorgan is your pick. good to see you. here's what to watch. housing starts and industrial production all before the open and regional bank erjs arnings the focus on truist and state street. cnbc with the special inauguration coverage on monday at can 8:00 a.m. that will do it for "worldwide exchange." "squawk box" starts right now. good morning. cease-fire deal between israel and hamas appears to be back on track. i'll tell you when it could take effect. president-elect trump's treasury pick scott bessent making the case for tax cuts and tariffs. while we'll show you the highlights. it's unmanned spacecraft destroyed in launch as debris

fell from the sky. details straight ahead. it's friday, january 17th, 2025. "squawk box" begins right now. good morning, everybody. 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 and andrew ross sorkin. and if you take a look on this friday morning, we are in the green. if you check out the u.s. equities. dow up 135 points. dow futures up triple digits. up 100 points. you have the s&p 500 up 22 points. that comes after some dow actually broke a three-day winning streak along with the s&p 500. dow yesterday was down 68 points. s&p was down