Good Tuesday morning. Welcome to Squawk on the Street. I'm Carl Kintania with Leslie Picker here at Post 9 of the New York Stock Exchange. Today, Sarah is on assignment in central Portugal, where she will bring us a first on CNBC interview with Bank of England Governor Andrew Bailey in just a few minutes. Plus U.S. stocks closing out a blockbuster quarter, both the S&P and Tech-heavy NASDAQ on pace for the biggest quarterly rallies in six years. We'll dig into the

outlook for tech in the second half with Citi's Heath Terry, why he says the AI infrastructure

buildout continues unabated. AI cybersecurity fears reportedly forcing a strategy shift at Apple.

We will explain that as well as we wrap up the quarter, the month of June,

and the first half of the year.

Kind of a mixed bag sector-wise today.

You do have the VIX back to 17, health care lagging a bit, some nice gains in information

technology and industrials, which of course are two of the best performing sectors of the quarter.

Yeah, as we get set to wrap up this roller coaster, first half for stocks.

Let's bring in Scott Wren, Wells Fargo Investment Institute, senior global market strategist.

Scott, thanks for being here.

So I see you're recommending investor portfolios, trim energy equities and commodities,

and rebalance toward IT inequ equities, precious metals,

and commodities. Why? Well, you know, Leslie, when we started that trade the beginning of

April, and it's moved pretty quick, we felt like, you know, tech was down. It gave us an opportunity

there. Energy was up, which, you know, really energy is still the top, the top performing sector on a year-to-date basis, if you can believe that, with the most recent performance. But for us, you know, you had to make an educated assumption whether the straight was going to open relatively soon or not. We thought it would open relatively soon. It did take a little bit longer

than what we thought. So oil prices being down here at 70, that doesn't surprise us. We want to

try to take advantage. You know, we've seen some underperformance, whether it's the MAG 7 or just

technology and communication services sectors in general, while some of these other sectors have done well.

So on relative weakness, we want to buy technology.

We think it is, you know, when you look at earnings, when you look at price participation,

when you look at sector participation, we think that's all going to broaden out.

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