Market moving insight and analysis join Jim Kramer, David Faber, and me, Carl Cantonia, on the opening bell hour of CNBC Squawk on the Street. Good Tuesday morning, everybody, and happy new year. Welcome to another year of Squawk on the Street. I'm David Faber with Jim Kramer. We're live from post-line at the New York Stock Exchange. Carl has the morning off. Let's give you a look at futures. We get started with the trading for the year. About a half hour from now right here

from the New York Stock Exchange. You can see, and Becky referenced in a moment ago, of course,

we are looking for a down open. Let's get to some news out as well. Tesla production and

deliveries are out moments ago. We're going to dig into those numbers.

And we also have a roadmap for you that's going to start with, well, what appears to be

at least a bit of a slump as we kick off 2004.

Investors are perhaps taking some money off the table.

You heard Mike Santoli referencing it after that very strong year for the markets that concluded with December 31st.

Plus, Apple shares are under some pressure this morning. Barclays downgrades the stock

on what it sees as soft demand for that latest iPhone.

Prices are jumping this morning on fears of continued disruption over, of course, in the Red Sea.

We will get to that as well.

Let's start, though, with that new year for the markets and another year for us, my dear colleague, an old, old friend.

Thank you.

What are your thoughts?

You know, as the year ended, and we've both been away for a bit, but I can still remember, you were getting

a little more cautious, particularly when it came to the mega cap, to the Magnificent Seven. Is that still

the case? Yes, and today, for the first time after letting them run for pretty much forever,

trimming, have to. I mean, bulls make money, bears make money, hogs get slaughtered, across-the-board trim.

I think that anybody who doesn't is being a pig, these stocks have had remarkable runs.

And I think that the runs are so extraordinary that it's probably time to give them a break.

And have other stocks do well. We're up 11% since we decided or realized that the Fed

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