Welcome to Overtime I'm Scott Wachner. You just heard the bells. We right here at Post 9 are just getting started.

Snap earnings breaking any moment will have those numbers, the analysis, and of course the instant stock reaction.

It's a key report given it's the first social media

company to give its earnings this quarter. We're also going to speak today

exclusively with Chris Tumy of Morgan Stanley private wealth on the state of the

markets. We do begin though with our state of the markets.

We do begin though with our talk of the tape,

and it is just that.

The state of stocks after the Netflix blow up,

the jump in interest rates, whether Snap adds to that pain or bring some much needed relief

especially in growth and tech let's ask High Towers Stephanie link who's

right here at post nine I mean this is a Powell rollover today is that what happened late in

the session? Yes and it's also interest rates going up really really far and

fast right so we have the Fed we have interest rates creeping higher, we have inflation, they're way behind, and at the same

time we have pretty good earnings.

So it's very tricky right now, Scott.

It's very much of a stock pickers market.

If you look at earnings, the economy, the market sensitive companies,

the reopen names, the airlines, I mean, that's happening in real time and services is 70% of US consumption so that's a really big piece and they're coming through for now right well that but then we also have what earnings are coming in at and they are beating expectations.

Only 20% have reported so far, but they're beating by 8.5% and 75% of the companies are beating.

So there's this cross currents here and that's why I say it's a stock pickers market.

Find companies out of pricing power.

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