Welcome to closing to overtime. I'm John Fort Morgan Brennan is off today.

Coming up this hour, Transportation Secretary Pete Budajev is going to join us exclusively to talk about the first meeting of the Supply

Chain Resilience Council as the Biden administration tries to

prevent future snalls and fight inflation. Plus former Wells Fargo CEO Dick

Kavasovich on the outlet for the Fed and when he thinks rate cuts could start and we are

kicking off cloud week here on overtime ahead of a big interview tomorrow with

Adam Salipski CEO of the biggest name in Cloud, Amazon's AWS.

Meanwhile, today we will break down earnings from Cloud Security firm Z-Scaleer

due out in just moments.

Let's begin with the market.

Stocks coming off their fourth straight week of gains the longest streak for the

Dow since April today's action muted maybe a little turkey coma still ahead

of some big inputs coming later this week including sales force earnings on

Wednesday PCE Thursday. CMC senior markets commentator Mike Santoli back with us now

Mike the Vicks is below 13, which is a level near those lows that we saw in the

posts, kind of, no, during the pandemic, market recovery in late 2020 what to make of that?

Yeah I mean on the first order it reflects just a general calm in the market itself

so the first input into what is implied volatility going to be, what's expected

volatility over the next 30 days is how volatile has the market been in the last 10, 20, 30

days and it's not been that that volatile. It's a pretty typical level if we are in a gentle boring uptrend like a ball market.

Obviously remains to be seen if it continues in that fashion.

There has been some commentary about very very low demand

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