i'm vonnie quinn. coming up, and upside surprise u.s. payrolls, sending treasury yields higher across the curve. putting fed rate cuts on the back burner. we begin with the big issue, december payrolls surprising to the upside with the highest sprint in nine months. >> clearly it's a strong number and that's the best of the market reaction. >> this is a kind of goldilocks report. of course, markets are treating it like a hot print. >> fundamentally it's good for the economy. >> that's how we emphasize that. >> we are above trend. >> there's a lot of health and the labor market because the economy is healthy. >> the question is, can the fed stay on top from here or cut one or two more times? >> what's the forward economic progression from here? will there be softening of the economy to bring the fed back? >> it will take more data points and decisions from the fed to figure out where the yield environment will take us. that's basically the story for the 2025 outlooks, uncertainty and not being able to be forecast. vonnie: those jobs numbe

i am vonnie quinn.k of the hour. the u.s. banks reporting earnings this morning including j.p. morgan. it's traders saw a record quarter for fixed income trading in particular and that helped trading revenue overall, up 21%. equity trading revenue was a little bit lower than that. joining us now for more on the banks reporting today is david conrad, analyst at kbw. david, this has set the tone and we obviously have several banks in already. goldman, j.p. morgan, citigroup, for example. can we expect the rest to blow us away as well? david: i feeldavid: pretty good about bank of america and morgan stanley tomorrow. those are the strong retrievers. what we have seen so far as you mentioned, strong trading and investment banking was up almost 50% year-over-year for jp morgan. you know, i also say jp morgan is fairly asset sensitive so the expectations that the fed won't cut rates quite as much as we originally thought this year, that created a lift and i expect -- that was the same for wells fargo. we thin

i'm vonnie quinn.as given off all of its gains as the market sells off and we learned that disney, fox, and warner bros. discovery announced they were scrapping a venue for a joint sports streaming service that fubo sued against immediately. the litigation was settled. for more on the whole story, already disney owns one third of u.s. ports. perhaps i can understand that with fubo, disney doesn't need this new literal venue. who else does it disadvantage? >> both fox and warner bros. discovery, the original partners, along with disney, in the venue of a joint venture. remember, fox is really leaning heavily into the linear tv ecosystem. they don't have a mainstream streaming service. this really would have helped them to monetize better. definitely for warner bros., this is a negative and for fox a little bit. vonnie: if disney is paying to license sports content from fox, are we going to see things like bidding wars coming back into the system? >> likely. disney is now going to focus their efforts on

i'm vonnie quinn.