Welcome to Closing Bell, I'm Mike Santoli in for Scott Wopner.

This make or break hour begins with a sigh of relief for stocks.

Here's your scorecard with 60 minutes left to go in the session.

You see the S&P 500 up about a third of a percent. The doubt

flat that's really being dragged down by some of the more economically

defensive areas. All the indexes though well up off their session lows up by

about three quarters of a percent intraday on the

S&P but still all in jeopardy of posting modest weekly declines after a jobs

report that came in a bit softer than up the street was expecting and

Chicago Fed President Austin Golsby telling

CNBC he is still undecided about what the Fed should do in July. Steve Leesman will be

along shortly with more from that interview. And it all brings us to our talk of the tape and

whether today's jobs report was just right to keep the fed from turning much more aggressive

even as it shows still strong labor market and what it all might mean for the rally.

Let's ask Charles Schwabs, Liz Anne Saunders, chief investment strategist there.

Lizanne, great to speak with you on all this.

I mean, I guess the question question is do you think the market is

correct to take a little bit of comfort out of today's numbers essentially we're

not seeing an overheating economy but also not one that's outright stalling.

Yeah I suppose in the context of also not one that's outright stalling.

Yeah, I suppose in the context of the nearly 500,000 ADP

print which really kind of freaked out investors I think it could take some

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