mike santoli tracking the action meg tirrell looking at pfizer and oppenheimer's jared holtz is here mike, some round numbers hit 4700 on the s&p. >> yeah. 4700 in sight and then 7 trading days ago that's where the trend line took you. 3% gain in that period of time what it really does is there's a sort of trend that started at the april highs or thereabouts to suggest that's where we're headed this is not a line that exists in the real world but people focus on to gauge the rally. good news today is good news for stocks and been on a good run and not surprising that we are off the high there's a longer one-year trend line to project higher and see 4800 before too long and probably not a straight line cyclicals versus defenses. this is the trend in the s&p 500. the low when delta hit and now making new highs again on cyclical leadership. that's good news for the underpinings of the rally meant for economic terms take a look at the nasdaq composite. right now on the year to date basis you see this kind of rolling choppiness but with an upward tilt. good returns in this band and then k

. >> good day to have you both michael yee, jared holtz here's what's coming up in the next hour. we'll speak with investor bradley tusk, about travel stocks we'll ask bill simon whether the latest variant headlines will keep shoppers away from brick and mortar stores. retail is getting hit hard today. we'll talk about what this means for the fed's taper and interest rate hike time line and we will take a closer look at casinos and chinese internets under serious will selling pressure today on all of this news, but first, we've got just about 12 minutes to go here in the trading day and we are now in the closing bell market zone today we have lafler tangler and robert nobles here as well and we'll kick it off with the broader market stocks have recovered a bit here into the close and still significant pressure amid new covid variant fears coming from south africa the dow is the worst performer of the major averages. it is on track for its worst day of the year. worst day since october of last year, nancy. are you doing any selling today? are you spooked by these headlines? no, sar