now is creative planning ceo and president peter hama like and new york stock exchange if trader peter tuchman. peter, what a difference one day makes, right? what is the feel today about yesterday's selloff and what you see today which is a decent bounce? >> you know what? i think, look, if people -- the most fascinating response to the market yesterday, if we go back to september of 2024, we had the first week of september was the worst week for tech since covid. everyone was just running for the hills screaming fire, fire. the next week was the best week for tech to be since covid. is we are now sort of a little bit jaded about the fact that we can see as the baby gets thrown out with the bath water in an aggressive fashion, this market is not particularly forgiving. yesterday was clearly in retrospect to when we look at this market now, a complete overreaction. look, there's still a lot of unknowns. you know, the fact that small company, that app that rose to the top that a started to churn into the news wires over the weekend and sort of come in on a monday with this perfect storm situati

if joining me now, new york stock exchange trader peter tuchman and pro shares global investment strategist simeon hyman. simeon, you're going with rational exuberance. what does that look like, and why aren't you joining the defensive line? >> we're going with rational exuberance for one very important reason, there's a lot less debt on the balance sheets of the s&p 500 than there was 20 the years ago. about a quarter of the level of debt. but what that means is not just a little bit less risk. people look at things like return on earnings, and they say they're kind of where they usually are and, therefore, they can't support these higher valuations. but if you achieving those return on earnings with one quarter of the debt, that means the underlying return on assets are four times as big as they were 20 years -- liz: so what's your allocation this year to stocks? >> you've got to be overweight u.s. equities. and that has to be funded from fixed income because you have three problems, the inflation problem on the long end because now powell said we're not getting to 2%. so i think you'll s

joining me now, peter tuchman and freedom capital markets' chief global strategist jay woods. peter, yesterday bank earnings led the markets to their a best day since november 6th, but we're not seeing a repeat of that. what's putting a lid on the major indices when it comes to the tow and the nasdaq? >> the market right now is in absolute reactive mode. last week we saw if jobs number that came out where bad -- where good news was bad for the market. we had a 244,000 new jobs came in, unemployment went from 4 4.2 to 4.1, and the market red carpet reacted -- the market reacted negatively. yesterday the cpi number came in a little weaker than we thought, and hen the market sold off hard on that, very reactive. request yesterday the are cpi number came out a little weaker than expected, the market liked that because then there you've got bad news is good news. that number being weak is going the make the fed have a little more powder to be able the then position themselves for more interest rate cuts. so the market is reacting on all those news, one being negative, one being posi