barry bannister, stifel, thank you very much. >> thank you >>> all right. we have got a lot left to do here on the schexchange, madman moscow, doubling down on his war in the ukraine is there any hope of a coup in the kremlin. >>> plus, are fedex investors and the macro market in for another surprise after last week's profit warning? and can costco keep up with inflation? we'll get the action, the story, and the trade. both companies reporting after the bell tonight and do not forget, cnbc's delivering alpha conference returns in person next wednesday, september 28th. you're going to get the best ideas from some of the world's best investors you want to go there's still room go to cnbcevents.com to register "the scexchange" is back right after this your shipping manager left to “find themself.” leaving you lost. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire hey! if we want to build the future, matchingwe're going toription. need some things. lik

. >> speaking of all of this, joining us this morning, barry bannister, and andrew slimmen joining usou first, your note last week at least sounds short-term constructive. >> yeah, we think the s&p 500 will end the year at 4,400 we do think obviously a lot of that will be in the fourth quarter. so we have to get through this summer choppiness, but sara just nailed it a second ago energy, food, goods and services is how you make up inflation prices will come down very fast. all the leading indicators we have point to that services are topping out so the question is how much damage the fed wants to do to the stock market when that inflation would have come down anyway that's really what the market is trying to determine. >> that's interesting. andrew, can you help on that for example, bullard just crossed on the tape and said that, yeah, next week's cpi, even if it's good, the fed will look past it. >> well, yeah, i think the point is the stock market will get in front of any reduction invite bearish outlook from the fed i think what is going on here is what's fascinating, david pointed