Welcome to Closing Bell, I'm Mike Santoli in for Scott Wopner, who will join us shortly.

Live from Future Proof in Huntington Beach, California.

He just finished speaking with Double Lines Jeffrey Gunlock, and Scott will join us with the highlights shortly.

But this make-or-break hour starts with Wall Street in suspense.

A rare degree of uncertainty on the Fed's next move within 24 hours of the decision is helping to hold the indexes in check just below record highs.

Here's your scorecard with 60 minutes to go in regulation.

The S&P 500 briefly touched a new intraday record high before the rally leaked away. You see it down by about a

sixth of a percent, eighth of a percent right now. The Dow and the NASDAQ, they've

been flattish most of the day. They continue that way. The Russell 2000 is the upside standout as

traders execute that standard playbook ahead of a Fed easing policy. This is the

Russell 2000 up nine-tenths of a percent. Banks are strong, though they as well are well off

their highs from earlier in the day. Energy higher oil prices bouncing off of

those two-year lows set last week. Consumer's thoughts are well bid following a decent

retail sales report this morning while tech continues to lag as it did yesterday.

It takes us to our talk of the tape. What should investors make of either a half or quarter point

rate cut tomorrow and where does it leave a market that seems priced for a soft economic

landing?

Cheryl Young, Rockefeller Global Family Office, Private Advisor, is here to talk about all of that show.

Great to see you.

Great to see you, Michael.

How are you thinking about the scenarios in terms of what the Fed does, what the market expects, how we should react, and what it says

about the economic environment here.

...