. >> let turn to jack ablin to talk more about the new highs in the market today.oundingtner and chief investment offers atet cr capital welcome back. >> thanks, sue. >> you say the next catalyst for the market has to be fiscal. what are you looking for specifically? >> sure, i mean weulled out all stops on monetary pms. three rate cuts this year. >> um-hum. >> we ha reasonable profit growth. nothingtastic. last year's profit expectations were negative. beating that number was pretty easy. analystxpect probably high single digit profit growth overt next four quarters likel to come down. what we need to get to the next level is something else, something other than monetary we need either a breakthrough on this trade clash with cha, we need some sort of resolution to brhat's better than the no-deal brexit. we need a little c morerity there. we'd love to havee european t countries sta actually spend money and build infrastructure. and that's really what we need to get in market t move to the -- next leg up. >> i was i think thissing about that today, jack. isn't it in

i want to bring back jack ablin and gary kaltbaum. let's start with the uber situation.he lock-up thing is interesting folks. we should understand the company raised money first time in 2009. raised $200,000 from their founder. recently they raised 600 million. the valuation when they raised 600 million was $76 billion. today the stock is trading at 46 billion-dollar valuation. even though a billion shares can come to market, unlikely everybody who bought early will be a seller because a lot of them are actually losing money, aren't they? >> yeah. i think a lot of it is insiders. there are programs out there where insiders can sell their shares, restricted shares to providers. then use those shares as collateral. of course once the shares become tradeable are exercised. we're seeing a lot of that today. the other really sensibility of the pub markets versus the private markets. we saw that with amazon. they were able to successfully move from private to public and keep that private market sensibility. however, tesla, with elon musk, tried to keep that private market sens

i would like to bring in fhn financial chief economist chris lowe and jack ablin of crescent wealth managementlet me start with you. economic data continues for the most part coming in better than anticipated. it does the same experts. you are part of the expert pool. say, of course it came in better. the gm strike is over. of course it came in better but i'm just, i find it remarkable, it feels like it can continue? >> it does. and i think that's, if you take a step back, think about how the story has changed in the last three or four-month, the biggest thing is we were talking about recession, right? will it come before the end of the year? is it a 2020 story? nobody is talking about recession anymore. the economy is fine. we are growing and i know after three rates from the fed looks like we're on track for decent growth next year. charles: on that recession thing, outside of the inverted yield curve, i didn't see a lot of economic data, string of economic data. generally you look for a trend. it felt like a quick knee-jerk conclusion. it blew up. it wasn't just the financial media but all