The 5 things you need to know before the stock market opens today: Merck is reportedly in talks to buy cancer drugmaker Revolution Medicines, fitness tracking app Strava will confidentially file for an IPO, Saks may be nearing a deal for a bankruptcy financing package of over $1B, Paramount Skydance is exploring adding strategic partners to its stake in MTV, and NASA will bring a crew home from space after they detected a “serious medical condition” aboard the ISS.

Squawk Box is hosted by Joe Kernen, Becky Quick and Andrew Ross Sorkin. Follow Squawk Pod for the best moments, interviews and analysis from our TV show in an audio-first format.

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Pulitzer Prize-winning NYTimes Opinion columnist Tom Friedman shares his perspective on the United States’ indefinite involvement in Venezuela. He warns that without a pathway toward functioning democracy, the country’s “mafia leadership” may remain in place. President Trump is speaking out against defense company stock dividends and buybacks. Plus, Becky Quick shares her personal connection to CNBC’s newest initiative, CNBC Cures. In a conversation with former FDA Commissioner Dr. Scott Gottlieb, she discusses the scale of rare diseases and the regulatory hurdles that impact treatments for diagnoses like that of her own daughter, Kaylie. Join us in advancing awareness and understanding of rare diseases. Listen to The Path with Becky Quick, and visit CNBC.com/Cures to access clips, resources, or to sign up for our weekly newsletter.

Tom Friedman - 13:05

Dr. Scott Gottlieb - 26:06

In this episode:

Becky Quick, @BeckyQuick

Joe Kernen, @JoeSquawk

Andrew Ross Sorkin, @andrewrsorkin

Katie Kramer, @Kramer_Katie

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

It's the story Becky Quick never thought she would tell. Her own.

As a mom to a child with a rare genetic disease, Squawk Box co-host Becky Quick dove into the hidden world of the many ways biological chance can change our lives. Thirty million Americans have a rare disease, which impact small numbers of patients. Two-thirds of those thirty million are children; 95% of rare diseases don’t have an FDA-approved treatment. But despite those eye-popping numbers, millions of people continue to suffer from diseases that often go overlooked by the broader healthcare industry. Small patient populations mean drug companies and investors aren’t willing to invest in the space, and outdated regulatory frameworks make the process of developing lifesaving treatments too slow for the families that need them.

Becky and her husband Matt Quayle share the journey of their 9-year old daughter Kaylie, who has a rare genetic condition called SYNGAP-1. Over the next several episodes of The Path, Becky will highlight the unique challenges faced by millions of Americans, put a spotlight on the bottlenecks slowing progress in the rare disease space, and talk with stakeholders who have the power to bring about change.

Join us in advancing awareness and understanding of rare diseases. Visit CNBC.com/Cures to access clips, resources, or to sign up for our weekly newsletter.

Follow Becky Quick on X: @BeckyQuick

Please share your thoughts or rare disease story in the comments, and join us on The Path.

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

CNBC’s Eamon Javers and Brian Sullivan report on the flow of Venezuelan oil to the United States. Venezuela will give the U.S. sanctioned oil indefinitely, that oil will be sold to American oil companies, and the proceeds will be held in American banks until the President determines it can be returned to Venezuela. The other geopolitical headline today: the future of Greenland. While the State Department and President Trump have issued slightly different statements on the prospect of acquiring the country from Denmark, questions about implications for NATO remain. Plus, after MSNow Senior Political and National reporter Jacob Soboroff covered the LA fires last year, he wrote “Firestorm: The Great Los Angeles Fires and America’s New Age of Disaster.” He shares details of the devastation, the road to rebuilding LA, and his personal stake in the community that was impacted.

Eamon Javers - 2:55

Brian Sullivan - 13:51

Jacob Soboroff - 29:19

In this episode:

Eamon Javers, @eamonjavers

Brian Sullivan, @SullyCNBC

Jacob Soboroff, @jacobsoboroff

Becky Quick, @BeckyQuick

Joe Kernen, @JoeSquawk

Andrew Ross Sorkin, @andrewrsorkin

Cameron Costa, @CameronCostaNY

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In Washington, Trump administration cabinet officials briefed lawmakers on the path forward in Venezuela. CNBC’s Emily Wilkins reports on the Republican and Democrat reactions to that meeting. Investor Daniel Osorio discusses the power and the oil at play in the region, including the opportunities for American oil companies and the likelihood of a large U.S. military presence in Venezuela. Louisiana Governor Jeff Landry, new Special Envoy to Greenland, discusses President Trump’s approach to the Monroe Doctrine and modern geopolitics, from Venezuela to Greenland. Happy birthday, Joe Kernen!

Daniel Osorio - 4:04

Emily Wilkins - 24:23

Gov. Jeff Landry - 29:03

In this episode:

Emily Wilkins, @emrwilkins

Becky Quick, @BeckyQuick

Joe Kernen, @JoeSquawk

Andrew Ross Sorkin, @andrewrsorkin

Katie Kramer, @Kramer_Katie

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Venezuelan leader Nicolás Maduro and his wife Cilia Flores are being held in New York on drug trafficking charges after U.S. forces captured both in Venezuela over the weekend. The lead prosecutor in the case, U.S. Attorney for the Southern District of New York Jay Clayton, discusses his approach to the case and dates the effort back to 2011. In Washington, DC CNBC’s Eamon Javers reports on the weekend’s strikes in Venezuela, the subsequent press events from the administration, and the path forward. Then, Mark Lazarus, CEO of CNBC’s parent company Versant, discusses the company’s first trade as an independent company after successfully spinning off from Comcast.

Jay Clayton - 17:36

Mark Lazarus - 39:11

In this episode:

Eamon Javers, @eamonjavers

Becky Quick, @BeckyQuick

Joe Kernen, @JoeSquawk

Andrew Ross Sorkin, @andrewrsorkin

Katie Kramer, @Kramer_Katie

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The 5 things you need to know before the stock market opens today: Chevron and Exxon are seeing shares rising after the U.S. capture of Venezuelan leader Maduro, airlines are adding extra flights to ferry passengers stranded in the Caribbean since that military operation, Philadelphia Federal Reserve President Anna Paulson says more interest rate cuts could be a ways off, Tesla under pressure after missing fourth quarter delivery expectations and the third “Avatar” film maintains box office dominance.

Squawk Box is hosted by Joe Kernen, Becky Quick and Andrew Ross Sorkin. Follow Squawk Pod for the best moments, interviews and analysis from our TV show in an audio-first format.

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

After 2025 ended on a high note for the major averages, Mike Santoli flags the market indicators he’ll be watching in January 2026. The first day of the new year also brings a new mayor for New York City and a new boss for Berkshire Hathaway. After 60 years, Warren Buffett has officially stepped down as CEO, handing the reins to successor Greg Abel. The national wealth tax debate is playing out in California, where billionaires are threatening to leave the state over proposed legislation. Former U.S. Senators Heidi Heitkamp (D-ND) and Pat Toomey (R-PA) discuss the suggested policy and its implications. Plus, healthy resolution-makers have more nonalcoholic drink choices than ever. CEO and co-founder of Athletic Brewing Bill Shufelt discusses his brand’s 12 styles of NA beers, mocktails, and increased market share.

Heidi Heitkamp & Pat Toomey - 24:32

Bill Shufelt - 41:04

In this episode:

Becky Quick, @BeckyQuick

Robert Frank, @robtfrank

Michael Santoli, @michaelsantoli

Katie Kramer, @Kramer_Katie

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.