francis stacy, scott redler here, the p if 3 trading chief strategist. welcome to g.o.a.t. of -- both of you. scott, your thoughts on what the markets are panicking about. that the rate cuts are delayed, maybe denied this entire year. what do you think? >> i wouldn't quite say panicking. we're down about 1-2% from the highs in the s&p after a 0 percent move in the first quarter -- 10% -- neil: very good point. so this might be just profit taking, might be a natural bump, nothing to panic over? >> well, it just, you know, right now inflation is sticky, and every time they try to ignore the data that's been coming out, they're not doing a good job. maybe this time it might be a little tough as we're now in the second quarter, like i just said, we're up 10%. the street said 4-5 rate cut ands now they're talking 1-2, so it would be, actually, healthy if we pull in 2, 3 off the highs to refuel the actual move that a we could see later this year. neil: what if there are no cuts, francis, this year? >> no cuts. okay, i'm officially predicting the end of the world. no -- [laughter]