let's bring in eric davidson, chief investment officer at wells fargo. is to hide in the equity market right now? investors sentiment has certainly changed as we go into the close. there are so many things that are weighing on france, the political environment. we have seen a change in sentiment in recent weeks with investors. joe: can you recall another period of market selloff in which people were grasping so hard at narratives and not finding a clear story of what is behind it all? eric: that is a good point. it is hard to say. i think that is probably the best indication that the sentiment has changed. good news is bad news and bad news is bad news. we talk about the china news, industrial production and retail sales. it is troubling, but here in the united states, we have the same data and that is industrial production and retail sales came out better than expected. people are just not seeing that. scarlet: who is the buyer in this kind of environment? we were talking to tony dwyer and he couldn't pinpoint one. who should be buying when we see these

joining us at post nine today, cnbc contributor eric davidson is chief investment officer.e of this phone call they had last night >> you're talking about the china/u.s. thing, right? i think there's progress being made on the trade teams understanding each other the huwaei thing has been a big mess and wrinkle in the deal but the trade situation has actually been spiraling downward on average more than upward. we may have some progress. but we don't have a solution. >> when the journal says that they're willing to discuss things like ip protection and make some changes in china 2025, does that seem possible at all >> we're hearing that from our side of the camera they may be hearing something quite different inside china and chinese media. those are the exact areas where we need progress, in ip especially also remember there's a lobby group inside china that makes its wealth from ip alibabas and the like. there's pressure inside china to change that. but amid all the fanfare about h huwei, and this thing. that's why huawei is so interesting. there's no solution to that in