And welcome to Closing Bell. I'm Mike Santoli in today for Scott Wobner. This make-or-break

hour begins with an unsettled start to the new year on Wall Street. Stocks unable to take full

advantage of new money expected to enter the market in January after December's pullback, with the

index is on pace for a rare five-day losing streak straddling the turn of a year.

The S&P 500's morning rally attempts failed to hold with big NASDAQ names applying the heaviest pressure.

You see the S&P down just over half a percent.

Apple and Tesla, big winners in 2024 are leading to the downside today on a mix of profit taking and concerns about product demands

in both cases. You see them down three and almost 7 percent. A surge in the dollar index to a two-year

high, also giving pause to equities as China announces new export controls on some U.S.

companies within three weeks of a new Trump administration stepping in.

That takes us to our talk of the tape.

What does the recent choppingists suggest about the setup for markets in 2025

after two years where reward for index investors vastly exceeded downside risk?

We'll start there with Lizanne Sanders, Charles Schwab, Chief Investment Strategist, and Lizanne.

Great to see you. Happy New Year. Happy New Year 2, Mike.

So, I mean, obviously we don't want to make a tremendous amount about a few days worth of choppy downside action in the markets.

But I wonder what you think it might reflect just about the starting point for 2025 twenty five in terms of market field position valuation uh... concentration of the market

well uh... you know it's just to say because we're only one day into trading in

january but that old adage of as january goes so goes the year there's some validity

to that some people

extrapolate that into a week December suggesting something

about how at least the first part of the year is going to unfold. And there hasn't been a strong

...