It's Jim Kramer here. You're listening to the opening bell of CBC Squawk on the Street. Don't miss a minute of the action. Good Wednesday morning. Welcome to Squawk on the Street. I'm Carl Kintanae with Jim Kramer, post nine of the New York Stock Exchange. David Faber has the morning off. Stocks look to add to yesterday's New Year's hangover, worst day for the NASDAQ at least since October. A news flow does heat up today with ISM, jolts, and some Fed Minutes.

A roadmap begins with a rough start to the year. for the NASDAG at least since October. Newsflow does heat up today with ISM, jolts, and some Fed Minutes.

A roadmap begins with a rough start to the year for stocks.

Is the Santa Claus rally in jeopardy?

Rate expectations.

Barkin now says a soft landing is conceivable, but adds that hikes are still on the table.

And Disney's activist moves showing up, shoring up

some support in its battle against Triands Nelson Peltz. Let's begin, though, with the tech sector,

a day after the NASDAQ did post its worst daily performance since October and the worst start

to the year since 2016. Apple Jim, of course, was a big part of that. Got placed the blame Squirley at Barclays on that note, of course.

Yeah, we got another note today from Davidson's just talking about lack of innovation. One of the themes that I saw, right at the end of the year, was that if you don't have newness in tech, which is kind of an odd term But then you just don't have what people won.

And the Apple note today

is kind of indicative of where I think people are

waiting for innovation.

Maybe Genevay-I'll help. I know they bought

a bunch of, they bought some cards

from Nvidia, but my problem

to all this, Carl, is that, all right, we've heard it time and again.

And this time it's that the service revenue will not be able to make a difference.

I trimmed all of the Magnificent seven.

I didn't own Tesla yesterday.

Magnificenton 6.

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