still with us is doug ramsey, and bloomberg news fx reporter katie greifeld. katie, when you look at what is going on with the consumer, it looks like the retail numbers came in and it seems to suggest if you have the right strategy, consumers will continue to flock and spend. on the manufacturing side, there are still questions on where things are. we get pmi data on friday. it is not -- it is market numbers. how critical will this set of numbers be? katherine: when i talk to people i often hear a lot of, we already know we are in a manufacturing slump and it is global. i think there is a higher sensitivity to those retail numbers, but after that october ism report i believe it was, it sent such jitters through the bond market, people have been looking at the market pmi's a little more. it is not the ism, but people are so focused on the ism that any hint that the market number can provide, they will be looking for. again, i get a lot of, we already know we are in a manufacturing slump. joe: doug, talk to us about what parts of the market you like. you like s

let's talk about all of this bob dahl is here doug ramsey, chief investment investor at leuthold you'remy right so i'll go straight to you. where are we what do we make of all of this craziness? it feels like you hear one good story on one side, the other story is terrible. that's been the whole week. >> that's exactly where we are we have some good news and not good news. chopped beyond frustrating is the outcome on the market. the path of least resistance fear of missing out. there is no alternative. >> that's terrible fear of missing out is the whole -- >> but that's weak buyers, no question about it. but underneath the surface go back a couple of months, everybody is worried about a recession. we've gotten enough numbers now to say it may not be strong, but we're not going to get a recession. that's enabled the market. >> right >> the problem is earnings growth is earnings jumped 1% it's a very stock specific you look at the earnings reports, especially retail and it's no longer let's tell us -- there's an overall story about the consumer or about the larger economy. it's now very s