I'm John Fort. You're listening to CNBC's Tech Check. Our show is live weekdays at 11 a.m. Eastern. Listen in.

Good morning and welcome to Tech Check. I'm Julia Borsden with John Fort. Carl and Deirdre have the

morning off today. Stocks off the lows of the morning after the S&P and NASDAQ see their worst day in two months,

but there is at least one right spot this morning. Adobe, it leaves the S&P after reporting an earnings beat this past quarter.

We'll see John's interview with CEO Shantanune Orion, and that's going to come up in just a few minutes.

And later, two more topics from Wall Street,

why investors should be bullish about Microsoft and Airbnb in 2023. But first, let's turn to

the markets. The NASDAQ in the red again today after yesterday's more than 3% drop that brings

total losses for the year to more than 30% with more rate hikes on the horizon.

So how should investors navigate the sector?

Joining us now is BMO chief investment strategist, Young Yuma.

Thanks for being with us today.

Let's start out with your big picture perspective on all the macro factors in play.

What are you watching?

Well, the Fed certainly pointed a picture of stagflation and a hard landing.

And that's really what's still rattling the markets and the markets are trying to come to terms with.

The Fed came out with projections of higher unemployment, higher interest rates, lower growth, and very difficult for the market's digest. We actually think that we'll see something more akin to a soft landing and that we're

probably seeing peak hawkishness out of the Fed.

We do expect there's going to be a correction in some areas, still some estimate cuts to come

in the next quarter or two, but we actually think those stabilized and we're on the path

to a soft landing. So I think when we're on the path to a soft landing.

So I think when we're thinking about the divergence in those market expectations, it's probably

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