Good Thursday morning. Welcome to another hour with Squawk in the Street. I'm David Faber with Leslie Picker and Mike Santoli. We're live in Post 9 at the New York Stock Exchange. Carl and Sarah both have the morning off. Let's give you a quick look at the markets and treasuries as well. The S&P up barely, as you can see there, let's call it all the broader indices up barely. 10 year hanging out right around 4.21 percent.

We are 30 minutes into the trading session. Here are some big movers. We're watching Bitcoin hitting

a major milestone. A hundred thousand for the first time ever in crypto-related stocks writing that rally.

Microstrategy Coinbase trading higher as well.

Micro Strategy up more than 3 percent. Coinbase up more than 4 percent. Bitcoin up around 50 percent

since the presidential election, much more on the crypto trade coming up. Shares of American Eagle,

though plunging double digits right now. The retailer cut its full year sales forecast and gave holiday guidance that came in below expectations. PVAH also dropping on a disappointing holiday outlook.

And shares of Robin Hood hire, CEO Vlad Tenev says the company is considering expanding into sports betting in some way.

That stock, a big winner year-to-date up just over 1% right now.

Yeah, another big beneficiary as well of the Bitcoin boom, so to speak. All right, the Dow

S&P and NASDAQ are all coming off what are fresh record highs. Technology and Consumer Discretionary

also posting record closes. The Dow, by the way,

they're making me read this, aren't they? They know I can't stand the Dow. Forty-five thousand,

first time ever. It is up 25% this year, despite being a statistically insignificant index,

as Mike Santoli can tell you a lot about. The S&P is up more than 30%. I've got it up 27.6% year to date.

That's a one year. But that's a one year. NASDAQ, wow, 40%. Again, that's one year,

31.5% year to date. Mike, I went through all the numbers. I mean, the MAG 7, the big tech,

seems to be having a bit of a

comeback here in the end of the year. Yes, migrating back in that direction. NASDAQ 100 is up

like 2.5% this week. The average stock, the median stock, and the S&P's down, three quarters of 1%.

And to me, it does reflect how the market is in this kind of almost clockwork rotational mode right now, where it's going to hold levels

near highs and it's allowing small caps and banks and cyclicals to rest, while the stock that

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