market hoping today's weak jobs number will lead to a fed rate cut joining us to discuss, marianne bartles, head of exchange strategy at bank of america merrill lynch global research. long title there michael feroli as well joining us jpmorgan chief u.s. economist. michael, i'll start with you if i may. take us dwlur take on the jobs number this morning. >> well, it was disappointing of course the headline number coming in well below anyone's expectation. and what's also -- you don't want to get too carried away with one number, but the trend has been slowing and the weakness was broad-based and it wasn't easily attributable to weather or some other special factor it was a disappointment. you had softer wage numbers. so across the board, and coming on the heels of some soft activity data in april, it's not a great signal about the momentum of growth in the economy right now. >> marianne, mike santoli has basically pointed out the fact that we're basically right where we were in january of 2018 on the s&p again. in terms of where you expect to end this year for markets, what is your target