Welcome to Closing Bell. I'm Scott Wabder live from Post 9 right here at the New York Stock Exchange.

This make or break hour begins with major questions about the market as a new quarter begins.

Can technology continue its amazing run? Is energy about to re-emerge as the place to be in this market

after months of missing the mark.

Here is your scorecard with 60 minutes to go now in regulation Dow up for most of the

day and led mostly by United Health and Chevron as oil

surges. S&P hanging on to positive territory two by about a fifth of a

percent, a pulled back for tech. The The NASDAQ sliding the most of the three major

averages today. Interest rates are lower to as a read on manufacturing

disappoints. It brings us to our talk of the tape. road ahead given all that lies ahead a jobs

report this Friday earnings in a couple of weeks and of course more reads on

inflation to help us navigate all of that let's welcome in Cameron Dawson the chief investment officer

from New Edge Wealth right here as you can see on set all right welcome new quarter

yep same story for the market, last quarter was certainly led by tech.

I mean, it was massive outperformance.

And if we look at the spread of performance between tech and energy,

it was nearly 40%. And so what we see now is tech is extremely expensive and energy prior to

today is extremely cheap. Why do you say extremely expensive? Well it was trading at a 40% premium to the market,

which is even higher than it reached back in 2021

at the peak of the pandemic bubble.

So that premium is huge, and it pricing in we think a lot of potential

easing in the Fed or by the Fed. Oh is that what you think has led to the run

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