All right, welcome to closing bill. I'm Scott Wabder live from Post 9 here at the New York Stock Exchange.

This make-a-break hour begins with the countdown to Amazon earnings.

Whether that report is just what this unsettled market needs.

We'll ask our experts over this final stretch what to expect from the company

when it delivers in just a short period of time and overtime. In the meantime, the scorecard

with 60 minutes to go in regulation, a hotter than expected employment cost index

well that sent yields up stocks down right from the jump today and it's been hard to

recover all the majors under pressure Russell 2000 is the biggest declineer this afternoon and all of this

happening of course just as the Fed meeting gets underway and the chairman expected to

carry a hawkish tone tomorrow afternoon we shall see as we lead up to that it does take us to

our talk of the tape these next critical 48 hours beginning with those

Amazon numbers yet another mega cap stock with a very hard buy to get over.

Let's bring in our panel.

Mark Mahaney of Evercore ISI, Jason Snipe of Odyssey Capital Advisors, a

CNBC contributor, Kate Rooney, getting ready for that print.

I'm gonna throw a little bit of an audible,

admittedly off the top.

Mark Mahaney, I'm gonna come to you first

because we're gonna talk about Amazon in a second,

but I wanna talk about Amazon in a second, but I want to talk about alphabet right now because I just got Dan Loves, Daniel Loves of third point, his new investor letter, in which he discloses a new position in alphabet and says that during the first

quarter the funds made a substantial investment in that company and Mark I want your take on what he says was really a capitalizing

on the disruption that this stock faced amid that swirling narrative around Alphabet that they had missed out on AI.

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