waddell & associates.manda: we are watching markets put on a pretty positive display here across the s&p 500. broad advances, most of the subgroups in positive territory. only utilities at last check moving lower today. financials rocketing higher p hops -- perhaps because of a possible move in the yield curve. 1.35 should be a big move. almost a 5% swing in the price of treasuries, so we are seeing reaction in parts of the market. we also see energy and materials be positive. as you note, tech is not suffering, despite the fact that that executive order may have implications across the u.s. industrial landscape. for what it's worth, the leak of this executive order focused on the rail and ocean freight industry. they are named in this sweeping order but are not the real targets. we might agree that the competitive forces in general would have investors and big tech taking the biggest second look. they might be waiting to see what comes next. what is on paper and what ends up being fact may be different. m

joining me ceo of waddle associates, david waddell.ing about payments, banking we management, real estate, the list goes on. you're known as the fog cutter to be able to demystify all of this. is the hype justified, where is it going? >> the hype is justified but it has been a long term story. some of the early fintech names have been around a long time. consider paypal and many of the others so the total market cap of fintech could be a trillion dollars or so. so this is a big industry. it has been there for a while and financial services companies do have a soft underbelly, right? they have big infrastructure. they have legacy systems. they have got a lot of employee headcount and they move slowly because of all the regulatory burdens. so they're kind of fish in a barrel for some of these startups. they either have to adapt to the new environment. you can do that by building or buying these things or you can get chipped away at the margins but i don't think the big money center banks are going away and just a final point, the the xlf