All right, Kel, thanks so much.

Welcome to the closing bell.

I'm Scott Wotner.

Our make-or-break hour begins with the countdown

to some key events today.

Tesla's highly anticipated investor day

and earnings from Dow Components Salesforce amidst a flurry of activist activity and questions about that company's road ahead both less than 60 minutes away now.

We will also debate the future of value investing, what David Einhorn told me earlier today

in our exclusive interview, how it could impact where you put your money in the years ahead.

Let's check the scorecard as we begin this last hour.

Rates very much the story again today.

That 10 year no yield reaching 4%.

So what will the fallout be for stocks?

That is our talk of the tape today.

Let's ask Adam Parker, the CEO and founder of Trivariate

research. He's also a C. M.C. contributor and he is with me at post nine. I don't even

have stocks pulled up on my screen. I have treasuries and I'm staring straight at the 10 year because that's where we're at 4% we're going to call it that hasn't been there or closed above that since November. Is that the big story?

I mean our research this week what we published to our clients was no matter

where you were three four months ago it's very very hard to be more optimistic now than you were then. Reason number

one interest rates as you point out and perceptions about rates. When we were at

4% in November the market was was 2.5 turns cheaper.

The valuation's really expanded.

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