we have joe duran from united capital, beth ann bobino from s&p. she's with us at the new york stock exchange and so is kenny polcari. what's this rally about today? >> it's much more a dead cat bounce after what happened yesterday, right? you saw the market sell off violently as we ended the month of april. as arthur cashin said yesterday, it was like window smashing instead of window dressing. today is a low volume day. rally back is not really on a lot of commitments. i think you really have to be careful when you think, listen it's all over. it's said and done. i think we'll run into more of an issue as we move into the next week of may and we have more earnings reports. >> speaking of the fundamentals we've had earnings and news on the economy that hasn't been all that great. the consumer spending data, okay, i guess. this morning's ism number not that great. how is the atlanta fed consistently nailing the gdp print? >> it is may day. the good news is it doesn't look like we're going into may in a deep freeze. we are expecting weakness. it wil

. ♪ ♪ david: so let's break down the whole week's action, joe duran is here to tell us what's positivee being disappointed by

joe duran from united capital financial advisers is with us. and so is rick santelli. joe, two sectors that are so important to the economy. housing and retail. both have been so herky-jerky recently. one number that's so encouraging and then some retail sales numbers that are not so encouraging. what do you make of those and what it says about the economy right now? >> i think what we're seeing is the economy is still in reasonably weak shape. what we're seeing with housing prices, it's one place where maybe they're keeping rates really low. increasing demand. it's increasing home values. and it's making people feel wealthy. it's not translating to retail. where people are spending is different than it was in the past. it's very technology-focused. it's very luxury focused. trips, vacations. so not as much in clothing and apparel. so the way the consumer is spending is very different. >> do you guys like the home builders here? >> yeah. again, i think there is -- when we look at the weaker retail sales right now, they're not buying sweaters, they're buying autos. they'

. ♪ ♪ david: so let's break down the whole week's action, joe duran is here to tell us what's positiveut the year despite being disappointed by earnings. bernie williams of usaa investment solutions with ways to profit off this volatility. dan veru is here in new york, he's going to tell you which hot international market he is not quite confident in and why, and larry shover is at the cme. larry, let me start with you. is it fair to say that traders are not afraid of rate hikes anymore? at least for the short term because usually when you have a good jobs number like today, they're afraid the rate hike is coming soon. >> you know, david, that's a great question, a broad question, and that's going to answer the question on where we go from here because, simply put, it's either they don't care about rate hikes at all, they don't care about liftoff or the latter which i believe to be true, they're unrealistic in their expectations thinking the hikes are going to come much further down the road. i mean, policy narrative is absolutely steal right now. it's causing a short squeeze today jus