you saw walt bettinger from schwab, a leader on the s&p right now.ank stocks, morgan stanley doing well we're starting to see the financials push forward, which is really nice to see, particularly after earnings season starts. some regional banks, there's comerca, almost $50. since the start of the financial crisis the banking sector, kbe at the highest level since march. you have to have broad regional banks move up on the earnings report and that's what happened. earnings don't necessarily translate into higher stock prices we had big beat from prologis. it's a reit warehouse. they do funds from operation this is a reit company opened at $130 that was an historic high. they sold right into it. it was a great report overall, but stocks moved up a lot recently there are some limits to how much people are willing to endlessly buy stocks here. transports are doing great fedex here, look at some of these numbers. we have a new cfo, john deet rick that just started with the company from atlas air worldwide. that's maybe moving it up. u.p.s., united parce

we'll talk to walt bettinger in the next hour of "squawk on the street," because that's been their problemnalysts are publishing this morning it looks like that's behind them and look at the move in the stock price today. as it relates to the macro, david, the question is, is the regional bank crisis over? >> i was just looking in terms of pnc the larger regionals started down, but it's in positive territory as well a positive response now to all the big earnings we've gotten this morning, whether schwab, bank of america, morgan stanley shares up over 5%, and pnc, despite a miss as you say. >> lower net interest income there. that was a little bit of a miss. again, nothing -- no major problems that we might have been anticipating as a result of the fed continuing to raise rates. which is still going on, right which is part of the problem here where people are taking money, deposits out of the banks and putting them into money market funds and higher yielding instruments and assets there was a survey from the federal reserve that was interesting about lending conditions and i think it's sti