Welcome to closing bell. I'm Courtney Reagan. And today for Scott Wapner, we're live from Pose 9 at the New York Stock Exchange. This make or break hour begins with stocks sputtering to start the new year. Markets coming off a roller coaster end of 2025. Key questions and risks remain. And we will ask our exports about all of that over the next hour and more. Let's get a check in on the scoreboard today. You see the Dow is

leading the way six-tenths of a percent higher, NASDAQ lagging, but just by a hair here,

and S&P 500 higher by about 10 percent. Key chip names are surging, though, Micron. And what a year

it had in 2025, Intel and Invidia, all higher here today. Other areas, in, outside of chips, suffering a bit, including software names like CrowdStrike and Salesforce.

But look at RH, Wayfair, and William Sonoma. Those names are surging after President Trump announced a one-year delay on those previously announced furniture tariffs for upholstered furniture and cabinets.

Well, Tesla shares are moving lower, and that's after deliveries missed analyst's estimate.

She can see down by about 2%.

All of it takes us to our talk of the tape, she tried to say, the future of the bull market,

and if it's stalling out or not.

So let's ask Solis, alternative asset management's Dan Greenhouse. Dan, it's great to have you here with me. And you're looking at sort of three keys as we go into 26. Yeah, the calendar turned, but you think other things are fairly intact. Walked us through. Yeah, you were talking to Steve Weiss on the halftime show, and I think his points were entirely accurate. The calendar turns, but that doesn't mean that your investment thesis changes in any

way. Obviously, there might be tax or regulatory adjustments, but practically speaking, the three things

that have been driving markets are likely to continue doing so. And very quickly, what's that?

It's the AI trade, which doesn't appear to be slowing down in any meaningful way. I know we're

worried about it, but no company has told me anything other than demand exceed supply. It's the Fed still accommodative, maybe not as much as some people

hoped, but they're more than likely not going to be raising rates, and they're beginning to provide

liquidity to the market. And then third, you have pretty healthy GDP growth, not the best ever,

but healthy enough, call it 2, 2.5%, which should drive top line growth. And with a little bit of margin expansion, probably call it 10 to 15 percent earnings growth in the year. So those three things are your tail wins for much of last year and likely much of this year as well. So let's drill down to those a little bit more. So the AI story, front and center, but it's not going to be just enough for a company to throw out AI in a conference call and help they get a bump from it.

What do invests? a little bit more. So the AI story, front and center, but it's not going to be just enough for

a company to throw out AI in a conference call and hope they get a bump from it. What do investors

really want and need to see from that AI trade to continue the acceleration? I don't actually

think a lot of companies really did that. Just say, listen, I know that at one point there were some

like a T companies that were changing their names to Bitcoin and they got a big pop.

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