With that bell marks the end of regulation.

Bond blocks ringing the closing bell at the New York Stock Exchange.

Athletic News doing the honors at the NASDAQ and high flyers by Talentere, Invidia, Tesla,

and Bitcoin leading the declines today as stocks close firmly in the red and bond yields move higher.

That's the scorecard on Wall Street.

But winners stay late.

Welcome to closing about overtime. I'm John Ford with Morgan Brennan.

Coming up this hour, a rare interview with the CEO of Sirius XM from CES in Vegas as the Berkshire

Hathaway Holding comes off a rough year of stock losses. We'll talk about what's ahead for the

company and the big changes afoot in the

entertainment industry. Plus, we'll talk to longtime internet analyst Mark Mahaney about Meadows'

surprise decision to scrap fact checking and bring back political content. And InVidio,

Jensen Huang is holding a Q&A with analysts right now at CES. We're going to bring you those headlines as we get them.

But first, let's get to the markets and this pull back. Joining us now as Chief Investment Officer at Kestra Investment Management, Kara, Murphy, and founder and president of Vital Knowledge, Adam Christopher.

Guys, happy Tuesday. Kara, last year's winners did relatively poorly today. Losers did well. Still,

you point out that the top 10 stocks in the S&P, 2% are 36% of the market cap. Now, if this

balances out and you expect that the market to do domestic market to do well, it could be because the other 98% rise in

valuation or because those 10 fall. Which do you think is more likely?

I think it's more likely that we start to see some of the others share the spotlight.

So as we look forward, I mean, you mentioned that the largest names in the S&P 500 are more than a third of the market cap of the S&P 500. That is 10 percentage points higher than where we peaked in 2000. Now, you can argue that a lot of that has been driven on forward earnings expectations. Fine. But there's a lot of anticipation that's built into those numbers that's reflected in the high valuations.

So if you roll forward four quarters, what you start to see is everybody else in the SMP starts to have earnings growth that actually comes closer to what the top tens are seeing.

So I think what happens is that the market attention starts to shift to the rest of the S&P 500, and they begin to get credit for those climbing earnings.

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