Right, thanks. Welcome to closing bell. I'm Scott Wapner Live from Post 9 here at the New York Stock Exchange.

This make or break hour begins with stocks nearing record highs, continuing their remarkable run from the lows of the war.

That's a scorecard right there with 60 to go in regulation. S&P 6950, it's like three quarters of 1% from new highs.

We've been green all day long. Tech is certainly

one of the bright spots today as the software comeback continues. Names like Amazon and

Alphabet surged towards new highs of their own. We're going to have more on those moves in just

a little bit as well. Elsewhere, city is higher today. Shares of wells though or lower. JPM is in the red the banks reporting today we'll follow it we'll discuss coming up it takes us to our talk of the tape the road to new highs and how best to be positioned right now well let's ask one of this country's top financial advisors he is richard sapperstine He's founding principal and CIO of Treasury Partners,

and he joins us now. Welcome back. Thank you. You surprised at the resiliency of this market?

Not at all. Not at all? Not at all. Stocks went from a P.E. of almost 23 in October, but a 19 and change two weeks ago. And it's important to

look past this conflict to the underlying fundamentals that are in the economy. We're going to have

the sixth consecutive quarter of double-digit earnings growth, record profits, record margins,

and the stocks have become way more attractive now with the conflict,

much like after Liberation Day last April.

Yeah, but I mean, it's easier to dial back tariffs than it is to just dial back what's

been taking place in the Middle East, because part of that's not in the president president's control in in some respects at this point. None of that factors in. You're just

playing it like you would play that, look through it and focus on the fundamentals.

The fundamentals are what's counts. So let me give you some numbers. Okay. All right. So if we go

to the operating cash flows of the S&P 493, it's roughly 6% for the next 12 months, the estimate.

If you look at where, let's say, Amazon and Microsoft are, there are 7 and 7.5%.

So you can basically buy a large growing company at an operating cash flow greater than the overall S&P

493. And that ties into the PE ratios. So if you look at the PE ratios to the growth

rates of different sectors, if you look at the large cap tech right now, it's one to one and a half.

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