let's bring in savita subramanian, the head of u.s. of america, merrill lynch. great to see you, savita. >> great to see you. >> clearly u.s. investors are focusing on the positives here, is it enough to reinforce the bull rally and not get distracted by the global concerns about what is happening in china? >> i think it is. here's our thesis for the year. we're forecasting about a 10% upside return for the year. not really as strong as what we've seen over the last couple of years. really more closer to an average return. but we think that we're going to see leadership change pretty dramatically within the s&p 500. as you mentioned the economy is looking like it's moved to some more solid footing. granted it's clouded, no public intended, a little bit by the weather. but i think that once we get to a point where we do get a better sort of sustained sense of the economy as an improving trajectory, investors have no better place to be than stocks in our opinion. and u.s. stocks in particular the s&p 500 we think offers a pretty good pro