Thanks, Tom. Welcome to the closing bell. I'm Carl Kintana in for Scott Wapner. This maker break hour begins with another run at records as the NASDAQ eyes a fresh closing high. Let's get your scorecard with 60 minutes to go in the trading session. All the major averages in the green. Looks like we might get a record close on the S&P as well at 6508. Chips are helping drive gains in the NASDAQ with shares of Micron and AMD rallying.

On the flip side, Apple is moving a bit lower as that company unveils the latest iPhone.

Of course, we'll get a live report from Apple HQ coming up, which brings us to our talk of the tape.

Should you continue to ride this record rally in tech, or is it time to take some cover?

Let's ask Dan Greenhouse, of course, Solis, alternative asset management chief strategist here at Post 9 on this afternoon. It's good to have you, Dan. Welcome. Thank you, sir. You know, for all the talk about seasonality and September being fraught, it's not looking too bad. No, not at all. We keep making, not dramatic new highs. We're up only 20 basis points right now.

But, you know, like I like to say, my mom, 20 basis points is 20 basis points. She'll take it. What do you think's driving it? Is it about a Dovish Fed? Is it about an AI trade? Is it about, you know, fiscal tailwinds coming in the next year? I think there's enough going on that everyone can impart their own views.

I know a lot of people are talking about this is a risk-on rally because the Fed's about to cut rates. Okay, but like let's not pretend that the story hasn't changed a little bit here about why they're reducing interest rates. And you've also seen a broadening out of the trade. We've talked about this on the network before. You have United Rentals performing exceedingly well, a bunch of consumer names, Expedia, O'Reilly, AutoZone, etc.

So it's not just AI that's not that it was ever just AI, but you do have a lot of other names

going on here. And it's conference season. There's the Financial Services, Barclays Financial

Services Conference today. All the banks say the consumer's doing well. There was the Golden Services, Barclays Financial Services Conference today.

All the banks say the consumer is doing well.

There was the Golden Retailing Conference.

Tariffs haven't really come into place yet, but thus far the consumer is doing well.

So the narrative coming out of all these conferences has been on balance pretty good as well.

So I think it's a little bit of everything.

Right.

I think to your point about financials, the presentations today,

Blackstone talking about investment booms, consumers still spending at City, really only Jamie was the one who suggested maybe there's some weakening going on. Yeah, that's Jamie has,

Jamie being Jamie. Not to, I don't want to, I see him on the street every once at all. But,

you know, that's Jamie sometimes. And understandably so. But, I mean, listen, we all listen to hundreds of conference calls, read lots of transcripts, read lots of earnings reports. To your point, things are still pretty good. Now, again, there's some stuff to worry about. I've been a little less bullish over the last couple of weeks. I don't think all the impact of tariff has been felt

yet. Companies have told us over the next nine months they're going to come into play. And you

have the switch in the jobs market right now, which I think somewhat complicates the picture as well.

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