holders like it, not good for consumers reinforces the inflationary environment raytheon, nucor and arconic are all lower. joining us is seema shaw seema, a lot of folks especially bearish investors have been waiting to cuts for guidance and expectations to earning, they haven't come yet are you saying that's going to change >> that's what it is i think the results that we've had today have been quite impressive, showed steady growth companies. i think we've held up by very, very strong balance sheets but you can see there is caution creeping in. you think about economy, the drop in consumer sentiment, the facts that consumers are being more deliberate with the purchases. and rising wage costs. those are going to get compressed so we are expecting a bit of a slow down in earnings but not as quick as we would have expected earlier this year. >> one reason the optimists say that we haven't seen the cuts in earnings yet is because inflation has been good for corporate america, they've been able to raise prices we talked about allstate, able to increase and preserve their margins because that k