Thank you, Brian. Yes, and welcome to Closy Bell. I'm Mike Santoli in for Scott Wapner.

This make-a-break hour begins with the indexes struggling to absorb some stingy reactions to some mega-cap results in the first round of the week's Mag 7 earnings gauntlet.

The NASDAQ losing more than 1% on the day. That's down from a record high.

With the S&P 500, not far from the lows of

the day, it's off almost two-thirds of 1% right now. This is despite a nice lift in alphabet shares,

now that's more than offset by pressure on meta and Microsoft after less than perfect quarters,

or at least in the eyes of investors.

That's what they saw. The broader tape meantime is trying to rotate away from semis and into some

non-tech quality names, the Dow trying to stick in the green and the equal-weighted S&P 500

holding near the flat line as well. Bonds digesting the Fed's hawkish rate cut with yields inching up a bit

after yesterday's pop following the Federal Reserve decision and press conference, which sets us up

for another run of Bell Weather Reports after the Bell from Amazon and Apple and takes us to our

talk of the tape. Our investor expectations and Mag7 stock prices set too high

as these companies try to justify massive AI spending, or is this just a pause in the AI

propelled rally? Let's talk about all of it with our panel, Alex Cantruitt, founder of big

technology, Bryn Talkington of Requisite Capital management and Jason Snipe from Odyssey Capital.

Brennan Jason, of course, also CNBC contributors.

Welcome to all.

And Alex, I'm looking at Amazon down more than 2% on the day.

It's been a little bit of a laggard.

It's down 7%.

Maybe the results from Microsoft and Google have perhaps set the bar high. But what's your read

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