tom: according to tom porcelli. dow transportation index, lagging on the industrials. they both have to rally to be bullish on the stock market so stock bulls might take fright. do you take fright at the transportation index has been lagging? tom p.: one thing we have to keep in mind as you have a fundamental backdrop in the united states that does not get much better than where we are. i am not making the argument that it is perfect, but it is pretty darn good. you have this nice backdrop wrapped in the context of the fed about to cut rates. in the immediate term, this is more of a risk on backdrop. i think you pay the piper sometime down the road, but for the immediate term it is a green light for risk. nejra: great to have you with us, tom porcelli stays with us. viviana hurtado is standing by. viviana: the u.s. and china are struggling to find a path forward in trade talks. has been slow progress. trump complained china is not buying the large amount of farm goods they promised. the u.s. has improved its huawei,