stephanie hightower is the presidency of columbus urban league. that's a community advocacy organization. now you're in columbus, ohio, and you're joining us live. what's your reaction to that video? well 0, thank you for having me this evening. we are taking the position and the shooting of the key a is your is heartbreaking and disturbing. more importantly, this is a shooting oven on, on the black woman. and we know that not only in the united states, but globally black women are a class that has been dis, proportionately marginalized. and that we have a lot of violence against the black women that needs to be addressed, not only in the united states, but also globally. what do you think needs to happen now in this case? as well, in this case, we're hoping that the authorities will be very swift. the problem in and quick in be responsible and putting together the investigation to find out exactly if this was a warranted or justified shooting. but again, we are taking the position that the urban league that this was an, an armed woman. there are

stephanie hightower is the president and ceo of the columbus urban league. she says police violence against black people is still a major problem in the us as well. in this case, we're hoping that the authorities will be very swift. the approach in and quick in the was possible in putting together the investigation to find out exactly if this was a warranted or justified shooting. unfortunately, when you continue to see these kinds of incidences, we still have a lot of work to do in the united states. as it relates to police violence against black people about the use of force. and i think there needs to continue to be a dialogue in our communities and with police unions and with law enforcement. about when you use that kind of force. i think there are many instances if you look at what happens when a person from the majority community is a, in a situation such as this. and when there is a person of color and then particularly a black person, how officers re yet. and i think this is about cultural sensitivity, this is about understanding the trauma that our

stephanie of hightower. john -- welcome to all of you. stephanie let me begin with you.se is this fed to being done raising interest rates and could this be it? >> i've been saying for a while we are in the ninth inning in terms of this rate cycle. height. and i still believe that to be the case. whether they go probably not today whether they go in november or not i think we are close to the end. that being said tyler the economy continues to have a lot of momentum. with the above trend gdp growth led by the consumer. led by pockets of manufacturing and that is leading to continue persistent inflation. we've made progress. we went from number 9.1% cpi to 3.7 in a years time. but it is not close to where the fed wants to go. we know that core pce number is what they pay attention to. and 4.2% it is too high. rates stay higher for longer and that is what we have to live with. >> john do you buy that argument rates stay higher for longer but the fed stays right where it is right now chris makes me i think we are a little bit closer. smith if you look at the inflation numbe

bring in stephanie link of hightower and brian levitt of invesco. stephanie a cnbc contradicter. welcome. brian, curious about your thoughts here, because seems like the rally in stocks at least big cap stocks this year has been premised on the fed is done or almost done. the economy has been relatively resilient to this point. inflation down more than the economy's weakened. do you have an issue with that setup and/or with greg's point of view? >> i don't have an issue with that setup. it's an environment where this is a market that's been thinked about peak rates, peak inflation. what we've dealt with a bit here in august and september, which historically are not great months for markets, concern at peak rates and peak oil. investors need to recognize, why i disagree with greg, it's that policy takes 12 to 18 months to work its way through the economy. many americans have fixed rate mortgages, businesses locked in low rates. we haven't seen the lag effects of all this. 18 months ago the fed funds rate was 0.0%. this is an economy that will start to slow in 2024, which means the

let's ask stephanie link from hightower and a cnbc contributor. does the recent stock slide have you drooling or concerned? >> we are getting some opportunities. i know we'll get to that in a bit. september basically is a very volatile month. it's living up to its billing this year. we're down about 6% from the highs. the vix is up 34% in two weeks' time. you just cited a lot of the reasons. there's a multiple of issues. we have the unknowns of the fed. the labor strikes. you have oil prices up 32% from the june lows. you have the government shutdown, which is a big looming situation. i think it will be short-lived, but another uncertainty. and the biggest thing is you have the ten-year yields inching higher at 4.6%. you're at new cycle highs. as rates go higher, that's competition for stocks. i'm not surprised we've seen this kind of choppiness and this trade down. i think better things are ahead. i think the economy is hanging in there much better than most people expected. >> the economy looks good. the consumer is reasonably healthy. those hig

let's bring in cnbc contributor stephanie link of hightower as we expand the conversation. steph, good to see you. the gist i get from cameron is, okay, pretty good now, but it's not destined to last for a variety of reasons, both when talking about the economy and the consumer. you want to counter that? >> yeah. i mean, i think -- well, first and foremost, all week long, the data has been really very good, very encouraging. the most important data -- you know i talk about it all the time -- the job market initial claims, the four-week moving average this week fell to 224,000. that's a four-week moving average. wages are running around 4.5% and if you want to switch to another job that's double the amount. that, i think, is very important for the support of the consumer. i think the consumer's in fine shape. they -- basically, they can put their money in cash at 5%, and that's going to offset higher interest payments from higher interest rates. and we've seen the consumer be resilient. look at retail sales this week, beating expectations. final demand beat expectations. and

joining us with her top picks and what she thinks about the market is stephanie link at hightower. e we talk about the three top picks, let's talk about the a.r.m. ipo. it is capturing the attention of the market. it is a huge ipo. if you are looking at pricing, it is relatively expensive. the only other one that was more expensive was nvidia. what do you think about a.r.m.? >> it is an interesting story. 20 times revenue. i think the important more than aspect here is less on the stock and more on activity in capital markets which is starting to pick up. that is very interesting. it coincides with what james gorman, ceo of morgan stanley, said in the last month. capital markets and investment banking is starting to pick up. that is encouraging and healthy. >> makes you feel better about stocks overall? juices are fleeowing again? >> it does and for the capital market stock. the way to play the a.r.m. deal is by owning morgan stanley or goldman sachs or bank of america. those stocks are left for dead, if you will. they lagged materially this year. it there is real opportunity here.

stephanie link is a cnbc contributor and she is also with hightower investments. >> good morning, frankhich is 7% of the s&p and 12% of the nasdaq. if we continue to see selling pressure in the regular session, what does it mean for the trading day ahead? >> i think it is a big component of the s&p 500. it is 12% of the qqq. it is a sentiment indicator. if it continues to sell off, it is not going to be by itself. you will have the magnificent seven and you will have as interest rates remain higher, growth struggle the -- struggle th a bit. i do think you could have volatility if the ban goes in place and along with a seasonal volatility. >> you are not the only person who thinks it is a volatile time. mark newton's note says if the sa s&p breaks 4,410, i expect it pushes back to new 2023 highs. do you agree with the set up? >> it is entirely possible. we had a nice run up 16% in the market. i would not be surprised to see some profit taking. i do think the overall economy remains pretty healthy. that should bode well for earnings, frank. i think earnings have troughed last quarter. if