All right, Tom, thanks so much.

Welcome to closing bell. I'm Scott Wapner, live from Post 9, here at the New York Stock Exchange. This maker breakout begins with a record high for the Dow. Here's a look at the scorecard with 60 to go. In regulation, most risk assets like stocks and Bitcoin are higher today, as investors assess the impact of the Venezuela news over the weekend. Gold, higher as well, oil names. Well, they are mixed today. Valero is a standout from the refinery space. We're watching the whole complex, though, closely. It's been a big day as well for the banks. Several of the large financial stocks are hitting new highs today, and we're keeping an eye as well on NVIDIA. As Don was just telling you, Jensen Wong, the CEO, taking the stage at CES for his keynote in just about an hour's time. He'll also appear on CNBC for an exclusive interview at 5.30 p.m. Eastern and Dan Ives will join us in just a bit for his take on that highly anticipated event. It does take us to our talk of the tape. Ken Stocks post a fourth consecutive strong year. Well, let's ask our panel.

Solace is Dan Greenhouse, New Edge, Welts, Cameron Dawson, I Capital, Shinali Bassett. Great to have

everybody with us. Dan, you first. How are we set up for this new year? I think we're set up pretty

well. The trends in place at the end of last year, stronger earnings

growth, the AI story remaining intact and the Fed being accommodative rather than restrictive,

plus the purchases, some of the reserve purchases that they'll be doing, continues, I think,

the sort of macro tailwind that's been driving markets higher and probably does for the immediate

future. So we finished the year with a little bit of a whimper.

We're watching the tape, as I said closely today, we're at 6901.

Jonathan Khrinsky of BTIG says that we need to close today above 6909.79 to avoid a negative Santa Claus rally.

The last two years were also negative, and there's

never been three straight negative Santa Claus rally periods. Put any credence in that?

I love John Krinsky. So what? So it's never happened before. So what if it happens? So what?

Means nothing for how any part of the early year will trade?

No, I don't think it matters one bit. Why do you think we were a little weak into the end

of the year? Yeah, I mean, I thought we were going to get to 7,000 to end the year. Okay, why didn't we? Well, we've had the AI rotation story, which sort of hampered, not sort of hampered, hampered some of the larger cap names, which put a little bit of

downward pressure on the market. And while there was a rotation, we know that banks and

healthcare picked up some of the larger cap names, which put a little bit of downward pressure on the market. And while there was a rotation, we know that banks and healthcare picked up some of the slack. I think that probably mathematically held back the market a little more than I expected and other people expected. But again, I don't know that I would read too much into that. And again, getting back to John's point, yeah, I mean, obviously I would rather a positive Santa Claus rally than a negative one, but I also don't think it really necessarily matters, given some of those aforementioned tailwinds I mentioned. I don't feel like Shinali you're expecting that much out of this year in a stock market. Single digit, albeit mid to high, single digit returns. Not to say we can't outperform that. We think it's a constructive year. There's a positive backdrop, but we think it'll be choppy, Scott. You look at this year, why didn't the market perform at the tail end of last year? A few things. The selectivity in the AI theme, we've been talking about it for a while, we can keep talking about it, but also rate sensitivity. When you look at it, the 10 years up a quarter of a percentage point from the lows of October,

and we think that there's more upside risk here to longer-term yields, regardless of what you see of rate cuts throughout the course of the year.

Your fair value range is 72 to 7,400. Dan painted a pretty positive picture. This sounds like a little bit cautious.

What say you?

...