Good Thursday morning. Welcome to another hour of squawk on the street. I'm Sarah Eisen

with Carl Kintanilla and David Faber, live as always from post nine of the New York Stock Exchange.

Stocks are under a little pressure here. S&P's down two-tenths of 1%. You've got some strength in

groups like financials. Better bank earnings continue today with Bank of America, Morgan Stanley, PNC.

Utilities, industrials, energy, real estate, all higher, but technology is weaker.

And guess what?

NASDAQ down a third of 1%.

You do have some of the chipmakers up like Broadcom, Nvidia, perhaps off those better TSM, Taiwan Semiconductor numbers, that stock

surging. But Tesla's down. Apple's a little bit weaker, so is meta, and that's dragging down

the overall market. Take a look at Treasuries after that big rally we saw yesterday off the back

of the softer core CPI number. A little bit of a reversal today. Yields firmer, 467, two-year yield, just below 4.3%.

Got a huge hour ahead for the street. The president elects pick for Treasury Secretary, Scott Besson, will face questions from Senate Finance at his confirmation hearing this hour. We're going to take you live when that begins. Also watching the Supreme Court this hour as the justices debate whether to step in and block a

potential TikTok ban from going into effect on Sunday. But first, we have some economic data crossing

the tape. Rick Santelli has it for us. Morning, Rick. Good morning, sir. Yes. Our November read on business inventories, of course,

this is a fourth quarter number. We want to pay attention to the widgets to see if it adds

or subtracts to GDP. We're expecting up one-tenth exactly what we received, up one-tenth of a

percent. In the rearview mirror, up one-tenth last month month now become zero so not much going on to add

the GDP there but there is an interesting stat this is the 11th month of course being November

read and 10 out of 11 months have been positive you look at last year nine out of the 12

were negative so we've had a much better inventory backdrop in 2024 than we did in the previous year.

Interest rates, well, as we sit, 429 and a two years up to, 467, and a 10 is up to parallel shift on the yield curve.

And that's not all.

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