now to "overtime" with mike santelli. >>> welcome to "overtime" i'm mike santoli in for scott wapneryou heard the bell just getting started coming up, hear from one strategist who is bullish into year end and highlighting one sector he's betting as biggest upside and a fed downshift driving a market updraft hint of slowing rate hikes in the latest federal reserve meeting helped stocks to a two-month high while sinking bond yields. bring in josh brown to talk more about it

so you won't miss an opportunity >>> we are now in the "closing bell" "market zone" commentator mike santelli it down and on the impact of a new alzheimer's drug study and talking about coinbase pick it up, mike, seeing stocks fade in the final hour nothing extreme. s&p down 17 points, 0.4 of 1%. weakness in energy, stocks holding crude prices down. and real estate consumer financials and utilities all weaker what is your read on this market reaction after such a stunning week last week >> i would say fomostly digestin modest in degrees of a minor pullback still only isolated in some stocks that overshot a fair bit last week. i think there is, though, you know, probably a fairly comfortable consensus among people who have been trained by the market this year to not believe fully in any rallies i think there's a general sense out there the next 2% to 5% higher in s&p is probably a low-risk sell or short an interesting dynamic in the stronger seasonal part of the year see if the market can challenge that and maybe overshoot it so it seems like a little less of an obvious trade can assume the do

doing, just check out earnings, why don't you, the reports to see what big companies are saying mike santelli has been following all of that for us amidst all of this, amidst rising rates, high inflation, midterm election, we've got a lot of earnings reports. tell us where we stand, mike >> well, tyler, at the very broadest level, the top line in the economy is still growing pretty robustly. in fact, 10%, 11% sales growth across the s&p 500 shows you that 9% growth just among retailers it does tell you that revenues are not scarce right now the problem is a lot of that reflects inflation, not real growth a lot of the commentary, especially from consumer goods and retail ceos are that consumers might be getting at their limits, at their ability to tolerate and absorb those price increases. so, they're not betting on too many more to come. therefore the focus turns to cost cutting, preserving margins, working down inventory, and preparing, perhaps, for the economic slowdown that is broadly anticipated but isn't really showing up just yet in the overall numbers aside from some areas in housing.