Risk on the market today that is the scorecard on Wall Street but the action is just getting started

Welcome to closing bell overtime I'm Morgan Brennan with John Fort

coming up this hour two key reads on the consumer when we get earnings results from Dow component Nike and one time meme favorite game stop those numbers are just moments away

Plus Adobe goes deeper into AI.

We're going to talk to CEO Shantou Naurion about how the software a giant is incorporating

artificial intelligence into its creator tools and what all that could mean for the company's bottom line.

Let's get straight into our market panel shall we as the major averages add to solid gains

on the week.

Joining us now are Megan Schu from Wilmington Trust and Sahak Manuelian from Wedbush Securities.

Good afternoon to you both.

Megan, I'll start with you.

The fact that we saw the major averages higher by 1% or greater today.

We saw yields move higher and we saw a shift out of the more

defensive and safe haven sectors where it comes to stocks. What does this signal

22 hours out from the Fed decision?

Yeah, Morgan, great question.

I wouldn't read too much into it, especially because so much hinges on tomorrow and

what we're going to hear from the Fed and Chairpiles specifically.

I think we're getting a little bit of a relief rally, certainly some covering of positions.

What we've seen, and that's interesting, and I think it plays through in terms of the

indicators of volatility while interest rate volatility and the move index are

pretty much through the roof the VIX is still relatively contained and I think that part of the reason for that might be because investors are already defensively positioned

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