adam parker, chief u.s. equity strategist at morgan stanley, is back with us. adam, if you're playing the fence, what makes a defensive strategy for investment in this kind of climate with this volatility? >> it really is relative estimate achieveability. you want to own stocks in sectors where the estimates are more achievable. where they have less downside should the economy slow. so we're recommending areas like health care, utilities and energy, where we think the estimates are more achievable in the second half of the year than the broader market. we're recommending investors avoid or underweight sectors like consumer discretionary and industrials where the estimates, in our mind, accelerate too much and are therefore unachievable. >> tom: you're looking for areas that do have kind of a lower hurdle so they can get over. you mentioned health care. let's pull this one out. we're using exchange-traded funds as proxies for the sector. it's come off its most recent highs -- the entire market has, this week -- but this has been very good performance over the pas

he's adam parker, chief u.s. equity strategist at morgan stanley. with so many pension and money market funds staying in cash, bank of new york mellon plans to charge a fee on big cash deposits. the bank says it's passing along the costs from the sudden and significant shift to cash. the fee is 0.13% on accounts holding more than $50 million in cash. b.n.y. is a custodial bank, meaning it caters to large depositors. it does not deal directly with consumers. >> tom: president obama is urging timothy geithner to stay on the job as u.s. treasury secretary. geithner was said to be considering leaving once the debt debate ended, but the white house wants him to stay on as the economy continues to struggle and the president is facing reelection. geithner has headed the u.s. treasury since 2009 and is the last original member of obama's economic team. >> suzanne: so what's the value of a college education? tonight's commentator says you might be surprised to find out just how much it pays back. he's jamie merisotis, president and c.e.o. of the lumina found

he's adam parker, chief u.s. equity strategist at morgan stanley. with so many pension and money market funds staying in cash, bank of new york mellon plans to charge a fee on big cash deposits. the bank says it's passing along the costs from the sudden and significant shift to cash. the fee is 0.13% on accounts holding more than $50 million in cash. b.n.y. is a custodial bank, meaning it caters to large depositors. it does not deal directly with consumers. >> tom: president obama is urging timothy geithner to stay on the job as u.s. treasury secretary. geithner was said to be considering leaving once the debt debate ended, but the white house wants him to stay on as the economy continues to struggle and the president is facing reelection. geithner has headed the u.s. treasury since 2009 and is the last original member of obama's economic team. >> suzanne: so what's the value of a college education? tonight's commentator says you might be surprised to find out just how much it pays back. he's jamie merisotis, president and c.e.o. of the lumina found