Good Thursday morning. Happy New Year. Welcome to another hour of squawk on the street.

I'm Sarah Eisen with David Faber and Mike Santoli live at post 9 of the New York Stock Exchange.

Curl has the morning off. Starting off the new year with green on the screen.

The S&P is up three quarters of 1%. This comes off of a string of losses into the holiday.

NASDAX up a tenths of a percent. So the rally resumes. Will it be enough to get a Santa Claus rally?

We're still in the zone. We've got today and tomorrow to get it done. But going into today, we were down 1% in that period.

Let's see what happens because we're clawing back a lot of these gains. Treasuries just quickly want to show you what's happening here. It's been a story of higher yields, which has maybe stood in the way of the equity rally. It goes the other way today. The 10-year yield of 455. So there's buying across the curve, the two-year yield below four and a quarter. We're 30 minutes into the trading session.

Here are some big movers we're watching.

Tesla shares falling on the back of its latest delivery numbers.

The stock now down more than 20% from its post-election high,

much more in Tesla in just a few moments.

Fellow Mag 7 member Apple also trading down.

Tech Giant offering rare discounts on its latest iPhone

models in China as it tries to defend its market share against rising competition from the domestic

rivals there like Huawei. And then Bitcoin kicking off 2025 in the green alongside related

names like micro strategy and Coinbase, more on the crypto trade later this hour

for now though let's get some economic data that just crossed the tape and rick santelli has

that for us rick yes construction spending this is a november number expecting the number up

three-tenths a positive number comes in zero unchanged and last month's up four-tenths gets upgraded by one-tenth to up half one percent.

How does unchanged fit in?

Well, unchanged equals where we were in July to find a lower number.

You go to June of 24 when it was minus 1.1.

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