Market insight and analysis. You're listening to the opening bell of CNBC, Squawk on the Street.

Good Tuesday morning. Welcome to Squawk on the Street. I'm Carl Kintanier with Jim Kramer's back at Post 9 with me and David Faber at the New York Stock Exchange.

Futures down to start a shortened week as China confirms this new respiratory virus.

Davos begins along with the Senate trial of the president, earnings kick into second gear

tonight with Netflix IBM. Europe has read the 10-year just below 1-8. Our roadmap begins with a

rally pause. Stocks are set to pull back from record levels at the open amid growing concerns

about the spread of this new virus in China.

Plus sustainability becoming the new standard. President Trump says the U.S. will join the Trillion Tree Initiative.

And global business leaders continue to say there is growing demand for companies to do right by society.

And we welcome back our own Sarah Eisen, live at the World Economic Forum in

Davos, joined by the chairman and CEO of UPS later on this hour. As we said, futures are down

ahead of the open. This deadly virus outbreak in China is cooling markets globally as top business

leaders meet in Davos for the World Economic Forum. Among today's early speakers was the president

touting the recent

rally in the stock market as his impeachment trial in the Senate gets underway in Washington.

Listen to what he said.

Years of economic stagnation have given way to a roaring geyser of opportunity.

U.S. stock markets have soared by more than 50% since my election

adding more than $19 trillion to household wealth and boosting 401k's pensions and college

savings accounts for millions of hardworking families.

A lot of headlines out of the president's address, Jim.

Among them, negative rates, quote, something I could get used to very quickly.

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