Thoughts looked like they were headed for a pop to kick off 2023, but then the major averages pulled back right after the open.

We did just pop off the lows. This is the make or break hour for your money.

Welcome everyone to Closing Bell, I'm Sarah Eisen.

Take a look broadly at where we are.

Down 122 there on the Dow.

Low of the day was down about 300 points and then the high was up 240.

S&P 500 up six-tenths of a percent.

You've got two standout groups today, the outperformers,

communication services, and that's a lot of last year's losers getting a bit today like

Meta on top of that list. And financials are also having a good day. The banks are all higher.

Everybody else is weaker, the worst performing groups, energy, technology, consumer discretionary,

that's Tesla. Russell 2000 Index of Small Caps starting the year deep in the red down almost

a percent. Two names to point out Apple and Tesla the mega caps are weighing heavily on

the market today. Tesla's down now almost 12%. Apples down another 4% picking up

where they left off last year in terms of the selling. Coming up on the show

this hour we're going to talk much more about the troubles at Tesla with an

analyst who thinks the stock has a lot more room to fall.

Plus, former Federal Reserve Vice Chair Roger Ferguson will join us ahead of two key economic

headlines this week.

We've got the Fed minutes tomorrow and the jobs report on

Friday. Time though to kick it off with the market dashboard first of

2023 senior markets commentator Mike Santoli on it on the market it's interesting to see the losers catch a little bit of bid,

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