Welcome to Closing Bell, I'm Scott Walker. This make a break hour begins with the risk reward for stocks and whether it's gotten better or worse as the second half of the year approaches.

J.P. Morgan's J.Bravco. Lecos will be here in just a minute with his answer because his new note had Wall Street talking today.

In the meantime, here's your scorecard with 60 minutes to go in regulation.

Boeing and IBM are a drag today on the Dow, which was lower for much of the day,

but as we start this final hour, the Dow is green, albeit fairly more broadly.

Stocks trying to avoid a fourth day of losses in a row. There's the S&P positive now as well.

Energy financials, utilities have been lagging. In fact, it is the worst week still for the S&P since March.

Nasdak higher.

It's hoping to keep its eight week winning streak alive and it's doing pretty good at that.

Right now there's the Nasdak.

Thirteen, just shy of 1%. It does lead us to our talk of the tape. The challenge ahead for

investors given the rally we've already had and what we think still lies

ahead. Let's bring in Joe Terranova, A Virtus Investment Partners.

DuBravco is going to join us in just a moment. It's good to have you here.

So you sat down and you said, oh, energy's lower. Oh, financials are lower.

I mean, the market's fought back though

as we begin this final hour.

So how do you see things here?

Okay, so, but the market is fighting back, why?

Because there's a mega cap put underneath the market.

It's the mega caps once again.

So initially it was Microsoft, it was

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