dan suzuki, i look at this and it says to me we are in a range. at range if you have a long-term optimism on the market? dan: profits come through. part of the reason we have been in a ranges we have no earnings growth. last year basically a flat year, this year looking like a flat year. you will see some signs that you will start to see -- tom: x oil, do you see profit growth? dan: you do. the problem is looking at this year, we are looking at tech's oil growth to decelerate a little bit. so it is a little bit of a mixed bag. now haveour clients the catharsis jeff degraaf has observed? dan: i think they are concerned -- i think they are confused. people were very worried about recession six months ago, which is why we think the market is pricing in a 40% chance of recession. as the data has gotten better, people are pricing it out a little bit. but they are still not fully committed to this. vix, what isxy of -- jeff: i am going to skirt that answer, but -- tom: do we allow skirting of the answers on a wednesday? we are skirting. jeff: volatility

dan suzuki. >>> when we return. former budget director peter orszag joins us.uawk box" will be right back. thereby need to hire fast? go to ziprecruiter.com and post your job to over one hundred of the web's leading job boards with a single click. then simply select the best candidates from one easy to review list. and now you can use zip recruiter for free. go to ziprecruiter.com. here at the td ameritrade they work all the time. sup jj, working hard? working 24/7 on mobile trader, rated #1 trading app on the app store. it lets you trade stocks, options, futures... even advanced orders. and it offers more charts than a lot of other competitors do on desktop. you work so late. i guess you don't see your family very much? i see them all the time. did you finish your derivatives pricing model, honey? td ameritrade. hey how's it going, hotcakes? hotcakes. this place has hotcakes. so why aren't they selling like hotcakes? with comcast business internet and wifi pro, they could be. just add a customized message to your wifi pro splash page and you'll reach your cust

dan suzuki is with merrill lynch. ieve the s&p will be at 2,000 by the end of the year. 13 points lower than it is now? >> that's right. i think what we're trying to say is that the risks are balanced. so that's not to say you're not going to have some rine ewinner some losers, but be mindful there's risk out there in the market. a lot of companies will do well. some concerns, for the reasons we lowered our target, they're still here today. in particular the credit will continue to tighten and be a headwind for the markets. there's going to be winners and losers. >> would you agree with that, jim? that seems fairly pessimistic given where we have traded over the last four weeks given those explicit recessionary fears. >> yeah, i do overall. i think we'll end the year roughly flat, 2050. i had a range to 1800 to 22006789 we did 1800 on recession fears. now we found out we're not recessing. so we came back to unchanged. i think we may be heading higher here. maybe breaking to new all-time highs, somewhere peaking out clo

make ae seen dan loeb number of investments in japanese companies like sony a few years ago. a robot maker here in japan, suzukiotors is a household name, they own 711 stores. loeb take an cautious tone. he has been critical of the way these companies failed to deploy cash. case, he is the parting from that a little bit and taking a bit of a harsh stance against the ceo succession planning. vonnie: this is taking on a whole system, a whole history of corporate culture. can one u.s. activist manager be successful at this in japan? thing if it was a japanese manager, but will anyone listen to dan loeb here? craig: it will be a tall order because what he is pushing back against is the current ceo. he is an 83-year-old chief executive officer. he has been leading the company for more than a decade. lays out in his letter is rumors that suzuki is succeeding his son to him as ceo and overlooking the head of 711 japan, which is the companye is making its money. he is critical of the board taking this route and promoting nepotism as opposed to putting someone in the ceo chair who is actually getting the job done. jonat