then you have a negative headline, or a negative article, amv, their biggest competitor, or their most active competitor, so you had mentioned qualcomm, but amv and nvidia, are, you know, replaceable, for this component. if you look at tech, these -- to bonn win's point, this is where the earnings came from, so this is where the earnings will be taken out. the market goes up, it's on -- tim always points out, the semiconductors led the market up, the mega cap led the market up, they're going to lead the ones down. go to technicals you were going to say something. >> no, no. >> if you go to technicals, it's rare that the market breaks just the 350-day. it breaks the 50 then the 100 and then it tests the 200. we're a couple hundred handles off the 200. it's going there your nvidia is probably going -- >> do you think it's going there on this run? >> yeah, do that's a massive mo, back in october to do that. >> 50 day of 5118, we rip through that level and then everyone is readjusting and then there was powell and then there was mega cap tech and then there was geopolitical you had a recip

and they also hired advertising agency amv, bbdo , who have too agency amv, bbdo, who have too many lettersvery well. the charity have come under fire from farmers feel that from farmers who feel that they're labelled as they're being labelled as villains animals and villains who abuse animals and some gardeners are angry too are being scolded lawn mowing being scolded for lawn mowing bees. if lawn mowing is a word, and stepping on snails and some donors are furious, one said to the daily mail i won't give them money again . the daily mail i won't give them money again. i am the daily mail i won't give them money again . i am totally money again. i am totally furious about the lack of respect they've shown for farmers and gardeners. our money has pay for this has been used to pay for this bonkers and wildly woke rebrand. it's an insult and gareth wyn jones, a welsh hill farmer, said the video was a kick in the teeth. well, i suppose as long as it's not a sheep's teeth. gareth, chloe, you seem like an animal lover. what do you make of this? i mean, i don't think it is as bad as you've maybe

paul: let's bring in our first guest, deputy chief economist at amv. thanks for being here. a big week for a lot of data. we will get pce numbers out of the u.s., the feds were -- preferred gauge. this may remain elevated. we are seeing delays to fed cuts this year. can you see a scenario where we don't get any easing in 2024? 3 -- >> i think it is an increasing risk but the base case is where we see easing pushed out later into the year. the key indicator we need to watch for signs of the weaker inflation print, that is an wages growth. we have clearly seen a straw it -- slowing in u.s. wages growth, 4% on average earnings and it needs to decrease to 3.5% to get inflation down lower. there are positive signs that we will see that happening because the employment indicators on things like the quit rate or job openings or forward-looking indicators of u.s. growth and forward-looking employment indicators have weakened to an extent that i think is consistent with softer wages growth, which i think we will see lower services inflation and allow the fed to become more comfortabl