here for more michael mckey and lori calvasina.onversation i wanted to get at was you see this v. shape recovery in equities. you hear from fed officials and looking at the data, we are like nowhere near a v conversation. how do you as an equity strategist square those things? >> a few weeks ago we did a survey and we actually asked equity investors when do you think we are going to get a v, u, w, or something else? it wasn't half, 41% or so, but the plurality thought we would see a w. two v's back-to-back. that echos what i think i've got in my own head which is i think this will be a bumpy ride around the bottom at best. i still don't rule out the possibility we retest march 23rd lows, if i'm wrong i think that w answer is the right one. alix: mike, we had a lot of fed officials speak over the last few days. do they have any broad consensus of a letter recovery? >> not really. what you see is a number of people saying it's going to take a while. we are not going to be starting up in may. we may be getting somewhere near that area

lori calvasina, head of capital markets at rbc capital management, very patiently, quite a rally in thet week or so, and i use that term lightly. i don't like the word rally, but that's kind of what we've had. would you advise or are you advising your clients sell into this a little bit and maybe take some money off it? i'm sitting on the sidelines and we hit the target on the s&p i feel no urge to cut it i feel no urge to raise it at this point i'll tell you, just listening to the conversation about what in the world was this rally all about today? a big conversation we were having with the folks at rvc and frankly, we've been having that conversation over the past week and a lot of this is better news on the virus and that's legit and i think this is the feel good reaction there. i think a lot of that's legit, but at the same time i will tell you it feels like that's starting to have run its course, and when i dissect the price action in the market today it looked like it had a very defensive undercurrent and the maga stocks, the fang stocks, those are secular growers and when we thin

coming up on "the open" with jonathan ferro, lori calvasina will be joining him. happy wednesday. okay? yeah. this moving thing never gets any easier. well, xfinity makes moving super easy. i can transfer my internet and tv service in about a minute. wow, that is easy. almost as easy as having those guys help you move. we are those guys. that's you? the truck adds 10 pounds. in the arms. -okay... transfer your service online in a few easy steps. now that's simple, easy, awesome. transfer your service in minutes, making moving with xfinity a breeze. visit xfinity.com/moving today. jonathan: from new york city for our audience worldwide. "the countdown to the open" starts right now. equity futures positive, up 29 points on the s&p 500, positive 1.08%. higher,es lower, yields the curve steeper through much of the session. in foreign-exchange, the dollar showing a little bit of dollar strength through much of this wednesday morning. from new york city, let's begin with the top story. stuck between hope and reality. hope things will get better. signs the mitigation effort is showing si

joining us to talk about the market today is ally chief investment strategist lindsey bell and lori calvasina to join the conversation by phone, but first, mike, i'll put it to you on this big buying and the surge we saw into the close off what appeared to be b better must remembers, better data that the virus spread is slowing in key hot zones like italy, spain and new york >> yes, it showed you how investors, traders, very egger to grab on to that sense that as soon as this curb starts to flatten out, that could be a signal that the footing is going to get firmer underneath the markets here we did go beyond the highs we got to b about march 30th so that's one sort of box check td off i think for this rally i'll point out one thing though. we've had eight days since this setback in the markets began where the dow was up 3%, the next day, down with some big losses so if we can put two daysing together to the upside, it would probably be a break of that pattern, but we just don't know yet. >> we're going to talk about what investors should do amid these wild swings, but first, breaking news on