Good Monday 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 pressure here at the open. We've got the Dow higher. That's thanks to UNH, which is adding 104 points

on its own. Caterpillar, Home Depot, Goldman Sachs. But as you can see, the S&P 500 down a half a

percent. Why? Because technology is lower. It's such a big market weight. It's why the

NASDAQ is down 1.24% here in the early going. Tech communication services all weaker. Some of the usual suspects,

the big winners of last year, Super Micro, down 6.5% Dell, Micron, Palantir, Nvidia, all weaker today.

But there is strength in some of the cyclical groups, energies up strongly on the price of oil.

Materials, health care, industrials, financials, and real estate,

they're all higher right now. Take a look at treasuries. This has been one of the headwinds for

stocks lately. We'll talk about global yields in a moment, but the 10 years elevated again.

477. The two-year yield is a little bit lower, so some buying on the short end and the long end

with the 30-year just below 5%.

I mentioned energy stocks outperforming up almost 2%.

Oil rallies to its highest level since July today on a fresh wave of U.S. sanctions on Russia's

energy industry.

We are 30 minutes here into the trading session.

Here are three big movers we're watching.

Invidia, I mentioned shares falling after the Biden administration announced new restrictions on AI chips. Those new regulations will cap the number

of AI chips that can be exported to most countries while maintaining a block on exports to China,

Russia, Iran, and North Korea. InvIA calling the move misguided.

Apple shares are under pressure on a new report showing iPhone sales, about 5% in the final quarter of 2024, and its global market share slipped.

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