Oh, they got a big crowd down here. Welcome to overtime. I'm Scott Wogner. You just heard the bells. We are just getting started. And do we have a busy hour ahead earnings from Micron and Lulu breaking any minute now? Peteanajarian reacting to both. He owns both.

And in just a little bit, we'll be joined by

J.P. Morgan's top stock strategist to Barofco-Laco's

talk to him about where we are in the market. We do begin with our talk of the tape

this incredibly resilient rally even as a key recession siren very close to sounding for

the first time in years. Let's welcome in now Schwabs, Chief Investment

Strategist Liz Ann Saunders, who's with us in overtime. It's good to see you.

Welcome to the program. Well, thanks for having me. Nice to see you too.

Yeah, we're, I mean mean we're on the doorstep of an

inversion what does it mean to you? Well you know a lot of focus on this the

tens to is nearly always followed by an inversion attends three months which has arguably a shorter time

arise and associated with when you tend to get recession.

I think an inversion attends too, it does tell you that growth is slowing when it happens

relative to the three month that's more of a signal that maybe a policy era is underway.

I think well I think it's inevitable going get a recession, but I would say that at any point in time all the time.

It's just a question of when. But I think we now need to look further down the curve and see if we continue to see

flattening in that more predictive of curve.

So let me ask you this.

Are you starting to model in recession in the way that you're thinking

about stocks?

I think you have to dust off the recession playbook.

Keep in mind that relative to inversions, the 10 year three month it's certainly

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