joining us now is aneeka gupta, director of research at wisdomtree. t are your expectations for earnings season? there seems to be building gloom for some time, our expectations finally correct? aneeka: morning, dani, a letter to join you this morning -- pleasure to join you this morning. we will see contraction in earnings for the fourth quarter of 2022. what we've been noticing is some of the key sectors that could offer results is mostly in value-oriented sectors, like banks, utilities, industrials and energy. energy has been paving the way and have been doing so right across 2022. dani: if that's the case, where would be be insulated from it? tech companies like salesforce are slashing jobs, are there companies that are better prepared for this downturn? aneeka: we're seeing most of that strength in the defensive sectors. the more "boring" sectors investors don't really want to go to are likely to provide that installation. it is well-telegraphed that at different stages of this year, u.s., europe and u.k. will be entering recession. in that regard

. >> let's bring in an eco-group aneeka gupta, director at wisdomtree. do you have more clarity? you have a greater clip on their trajectory for the offset economy? are you more reassured? aneeka: based on the recent macroeconomic data that we have been getting, the picture is getting a lot more clear. we are seeing inflation beginning the. we are seeing growth beginning to cool. that opens at the scenario of a softer landing. that moves in favor of the feds next decision of increasing rates by just 25 basis points. and i think that is on the back of the labor market still remaining fairly resilient so i think the 25 basis point rate hike and moving across we are seeing a softer landing is how we positioned the u.s. moving around for 2023. >> you are in the soft landing camp. if they pause after february, how do you position around that? aneeka: it is a tricky situation because -- obviously, domestically we are seeing a bit of cooling taking place but let us not forget that inflation from headline inflation which emanates from the energy side remains uncertain. we do see chances o