marathon asset management bruce richards with us today he'll tell us why the soft landing camp in the markets is wrong. he's been on the recession train. >> co ceos of on runnings will join us. >> ali mccarthy on finding value in cheaper cyclicals >> about 1% declines even though yields, which shot up after retail sales this morning, have come back. ten-year's back to 417 vix at 16. jpmorgan's point this morning was typically, you have the s&p down two plus maybe a dozen times since covid. couple of those were in the depths of covid but generally, it's when the vix was about 20 unless we get a shock, maybe the selling is going to end soon >> if you're looking for why today, there's a slew of reasons. started overnight in china with weaker economic data across the board even though we got a rate cut there, which should be supportive top data in the u.k. and in the u.s., the data was mixed retail sales, a lot stronger but markets quit trying to figure out whether good news is good or bad news is bad because it keeps the feds hiking rates higher for longer that 1% control group number th

. >> thank you >> another great summer outfit >>> more on the markets with bruce richards, co-founderagement why he is saying the soft landing camp is wrong and where he sees opportunity. don't go anywhere. dow is under pressure, about 270 lower. >>> markets in the red all sectors in the red, many by 1% including materials let's bring in bob pisani. >> 6-1 declining to advancing stocks it's choppy. i don't think you can blame all this on china although the news out of china isn't great economically you can see china etfs all down today. mchi down. down, there you go i shares the symbol there that's leading to the downside but market leaders this quarter. it's been a great quarter for banks. put that back up here. energy's had a fantastic quarter. banks and energy are market leaders and they've been drooping in the last seven, eight, nine trading sessions transports were strong tech's been underperforming so that's no surprise there that's weaker there's your leadership board for the quarter and it's not looking good in the last few days here. so the leadership group had a great quarte

bruce jackson, thank you very. >> thank you for having me. >> of course, richard. >> we are waiting a 5:00 p.m.r the national hurricane center with an update on hurricane hilary's path the storm bears down on southern california. adam klotz and the "fox weather" center is coming up next. rich: we've just got update on hurricane hilary is the path let's bring fox's meteorologist adam klotz. he is light in the weather center, adam? >> hey an interesting update we had here. winds are currently dropping down to 110 miles an hour was a category three. just got this update in the last couple of minutes. category two hurricane this is always going to the casas is running over colder water comments looking. yoyou're numbered still liftingp to the north at 70 miles an hour but had spent up just a little bit. it's still bringing a bunch of moisture. the wind was never going to be the main concern here. work lose some of the windows speed and it's going to bring a whole lot of rain pete rain already falling across portions of the desert southwest including parts of california, this is only going to intens