brian belski said payrolls are everything. friday june 1 st we get the payroll number for this month. have you changed your expectation of the jobs number for may in the last couple of weeks? >> no because we haven't done it yet. i'll just say this, i think he's right. i think the labor market really is the key driver going forward right now. that being said, we have -- it doesn't really matter what the number is on this coming friday or the following friday because we don't think the fed's going to do qe while europe is still sitting out there. we think the fed has plenty of ammunition to do qe-3, we don't think they have the ammunition to do qe-4 meaning they have to wait on europe. >> hoping we don't get a qe-5 or 6, how long can this go on for? drew and lawrence, thank you so much. >> thank you. >> thank you. >> all right. as the graphic says, time for our disaster du jour. this is lowe's. the home improvement company, not the conglomerate, down just under 10%. they beat in the last quarter, but it's all about forecast. fo

. >> joining us to weigh in and where we go from here is brian bels belski.s to good to have you on the program. steve, let me kick off with you. i know you are an investor in financials. you have j.p. morgan, right? >> we do. >> did you change any allocation as a result? >> it's funny. about two weeks ago we sold a lot of financials. we kept j.p. morgan, bank of america citigroup, but we sold a the lot of other ones. then the surprise of j.p. morgan came upon us and it seems like there is four or five different reasons why this might have happened. i would sum it up into the treasury curve. large banks have to take risks. greater risk than before to make returns taen is coming up and hurting them right now. >> it could also now mean greater tighter regulations for the banking industry. senate banking committee announcing that will hold hearings on all of this. we know where that goes. is it possible they shot themselves in the foot? and the worst nightmare for jamie dimon that he gets tighter regulations as a result. >> absolutely. this will push out the rec