let's bring in kari firestone. is also a cnbc contributor kari, thank you for being here good morning >> frank, hi >> you are watching the moves in the market you are testing the june lows. you need to look at a trading range in the market and look at a new bottom possibly. >> we have been saying for some time that the market was trading in a range the bottom of the range is one we went through yesterday. 3666 the market will bounce today market doesn't care about hard numbers. top of the range is back up over 4,300 where we had been. i think the news from the fed and determination means that the market could go a little lower on the other hand, at this point, we are down 24% from the beginning of the year. that discounts a lot of bad news we still think there is a good chance we can have a rally here. we're at 16 times 2023 earnings. 15 times 2024 earnings a lot of stocks have had their own recession and bear market for months and months now. if not over a year that's part of the reason that we are feeling more opt

nasdaq flirting with its seventh consecutive loss the investment committee joining me this hour, kari firestone and josh brown what the markets are doing at 12:00 noon in the east we've had another reversal we're positive for the majors. the ten-year note yield, one to watch today. we're at 334 steph, i feel like this whole this is a great debate soft landing hopes verses overly aggressive fed it seems to me like playing simple that's it. >> yeah. it is kind of plain and simple >> you got to decide which one you're betting onto figure out where you believe the market is going, right >> you're right. look, we're definitely slowing in the states. we're slow around the world. i thought the data over this weekend was pretty negative. gas problem, the news, they're shooting off gas supplies to europe indefinitely. china cuts their lending rate by 200 basis points and they're seeing more closures because of covid. and the fed got the green light on friday from the nonfarm payroll numbers because wages are still high >> ism was -- more green light. >> yes >> therein lies the problem. >> therein lies t

nasdaq flirting with its seventh consecutive loss the investment committee joining me this hour, kari firestone at 12:00 noon in the east we've had another reversal we're positive for the majors. the ten-year note yield, one to watch today. we're at

we have greg branch at veritas and kari firestone at rss management both cnbc contributors kari, looking through your thoughts and musings about cpi it is an important number. people are expecting a pretty good number. overall, your trading range for the s&p is 3,700 to 4,300. my bet with el-erian, he wins at 3,600. i win at 4,400 we could be here for eveever wi the range. how long does that last and resolve above or below the high and low end of your range? >> hi, joe it is about inflation. we know the focus is on cpi. people hope it will be 8.1 or lower. nationa until we have more clair rity ad how many hikes over how many periods of meetings they have, it is a trading range in our opinion. that is a broad range. remember, the market fell 10% from august 17th highs now it was oversold and come back about 5.2% just in the last week because we had some descimation of technology stocks that's when investors started to buy again and were enthusiastic about prices coming down on gas. we know gas is down and hotel and air fares are down other commodity drops. retailers are selling discounts