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This is Bloomberg surveillance.

Good morning, I'm Karen Moscow, along with Michael McKee and Francine Lacroix,

and the opening down brought to you by Pershing's Inside 2016 Conference,

a must attend for advisors June 7th through the 9th in Orlando, Florida.

Register at Insight 2016.com, that's INSITE, 2016.com. And stocks are lower at the open. The S&P 500 down a quarter of a percent, down five points to 2086.

Dow Jones industrial average down 3 tenths percent or 55 points to 17,948.

The NASDAQ's down 3 tens percent or 15 points to 4890.

Ten-year Treasury down 330 seconds, the yield 1.89% yield on the 2 year 0.82%

9% percent to 4332 a barrel. Comex gold up 7.10% or 7% or 8.8% or $ $8.10 to 1238 10 an ounce. The euro, $1.12.51, the yen

won 11.20. Mike and Francine.

So now let's get back to Wells Capital Senior portfolio manager, she's Margie Patel.

Margie you were telling us some of the equity sectors that you were preferring, defense

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