Welcome to Overtime, I'm Mike Santoldy in for Scott Wopner. You just heard the bells, but we're just getting started.

We begin with our talk of the tape, the hard realities of a soft landing.

Jay Powell warning Congress today that steep rate hikes could tip the economy into a recession,

but stocks held in there pretty much as investors have assumed as much already and were reassured that the

federal do what it takes to bring down inflation. So given today's action on the

back of yesterday's rally is the market finally showing real signs of stabilization?

Let's ask Josh Brown, co-founder and CEO of Rittholz,

wealth management, and to CNBC contributor Josh.

Great to see, I'd love nothing more for you to come on and say absolutely the past two days tell us this market is on firmer footing,

the hard times are over and we're ready to run.

Guessing that's not the case, but what is your takeaway from some of the action today

both in stocks holding on to a 2.5% rally from yesterday and then, you know, bond yields

softening up, oil rolling over a bit.

Well I think what you just finished with is the most important thing if the trauma

that we've been through so far this year originated in the bond and

commodity markets then any reprieve we get from there should be the basis for

a meaningful at least a meaningful bounce.

I don't want to say full recovery

and give people the wrong idea.

But think about it.

We're now looking at WPI crewed below the 50-day moving average.

Nationally, gasoline prices have gone down

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