why don't we, michael arone, start with the economic data out today?ittle squishiness on consumer sentiment. generally, the data has been pretty good, indicating a soft landing, right? >> i would overall say that the soft landing outcome remains in tact. the economy is cooling but not in recession. inflation continues to be on the right trajectory. earnings are going to be great. wells fargo and j ppmorgan got off to a good start. all in all, the soft landing outcome is most probable, and it is constructive for the stock market. >> michael santo kli, what is t dow seeing to make it go up 350 points? >> sometimes the context is the catalyst. every time we get a test, cpi, ppi, weekly jobless claims, and we run it against our premise, which is, i think, that the market is priced for something like a benign soft landing. if we clear the test, i think it does relief to the upside. i don't think there's fixating on a lot of news. the bond market had its move, mostly in response to payroll data a week ago. it has not really given incremental reason to worry