lisa: we were hearing from sam stovall that you have a an openness to rate cuts. you were saying that based on goldman slowing. i have so misunderstood this cycle that i don't understand exactly how housing fits into this, i don't understand the variable lags, how consumers can be running out of cash. tom: you went to the long and variable leg of -- lag of the pandemic. are we really be the stimulus of the pandemic? tomorrow, personal income and personal spending. i and everyone else has been so wrong on that. will give us another poignant tone to what the consumer is doing? jonathan: jobless claims and then onto next week. just around the corner, big conversation, howard marks. that conversation about 45 minutes away. from new york city, good morning . ♪ (sfx: stone wheel crafting) ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy? ♪ fresh, warm hot dogs! when i'm not selling hot dogs, i invest in a fund that advances innovations like robotics. fresh, warm hot dogs, straight out of my