And welcome to closing bell. I'm Mike Santoli, in for Scott Wapner. This make-a-break hour begins with

stocks finding some traction after a morning skid brought the major indexes with insight of their

December lows. The S&P 500 was off more than a percent and a half at its worst before those dip buyers

showed up. You see now it is off about six-tenths of one percent%. Invidia has been instrumental to the intraday recovery rising at one point above that

140 level that the stock's been chopping around four months. It is still up one and two-thirds

percent at the moment. The early index shakeout following Friday's 1% plus loss came as

Treasury yields eased lower after weeks on the rise.

A hint that some asset allocators shifting from stocks into bonds after equity sharp outperformance

all year might have been at work near the open.

Still, the 10-year treasury yield remains above the 4.5% threshold.

It recently surpassed the day after this month's so-called hawkish

rate cut by the Fed. Which brings us to our talk of the tape. Is the choppy market action

simply profit taking and rebalancing at the end of another strong year for stocks, or is it

sending a more cautious signal about the economy in 2025? Here to take on that question is Mohamed El Harian.

He is Alian's chief economic advisor.

And always great to see you.

Welcome, Muhammad.

Thank you, Mike.

So here we have obviously very strong year for stocks, sure,

skewed toward the very largest.

And this rise in treasury yields, which I guess

has been perplexing to some. It has really taken flight since the Fed started cutting rates.

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