 Stocks are at record highs and Apple's earnings are in focus. David Bonson, how will Apple's earnings on Tuesday tip the earnings scale for the broader markets? It's tough to say as far as the broad market overall. It could really help tech because there's sort of a baked in expectation that Apple may come in a little lower than the whisper number has been. And so I think overall Apple will help the big picture but within technology. That would be interesting to see. Well and when you mentioned technology we had a lot of volatility last week in the NASDAQ we had some steep declines. What was that all about? Well I mean the thing with tech earnings is that so many of these don't trade off of a PE ratio. You know you've seen Amazon consistently underperform what their earnings number is supposed to be but they traded a whole different metric. And so last week I just think you had some really high expectations baked in. Some hit and went higher, some did not. Alright now we're a little bit more than halfway through earnings season. I want to tell everyone that earnings so far have grown 9.1% year over year according to FACC said what kind of growth rate do you think we'll end up with by the end of this reporting season? Well we're going to end up with a double digit growth rate year over year for sure. The more interesting number to me is that 74% of companies have beaten thus far top line expectation excuse me bottom line expectation 72% top line. That number will probably come down a bit but the point is a lot of companies doing better than expected and pretty good things were baked in. Alright now we also have President Trump tweeting about the stock market over the weekend. He said that the stock market is up almost 20% since the election and then just now minutes ago he said that the stock market is at its highest point ever and ever is in caps. What do you make of the rally so far? I mean a lot of strategists are now saying it's more of an earnings rally than a Trump rally. Anyone who isn't saying it's an earnings rally is significantly missing the point and most certainly is an earnings rally. Although I don't know that some deregulatory policy framework is a small part of that. Certainly business confidence, consumer confidence could play in. Look any good news politicians are always going to want to take some credit for bad news probably not take the blame for. That's understandable but fundamentally this is actually a stock market rally very decorrelated from Washington DC. The things that we're pushing markets higher after the election are not the things pushing markets higher now. We're not talking about health care reform, we're not talking really even about tax reform as much infrastructure spending we haven't talked about in months. What we're talking about is earnings growth and a better global environment. So is there more fuel to end the year higher than we are now in the S&P 500? I think if the earnings acceleration continues and emerging markets continue their healthy move higher which is partially based on dollar coming down but also because there's a better framework it's a healthier GDP story and a lot of the emerging economies that's helping our multinational companies here in the U.S. And then if they get tax reform done and it doesn't underwhelm then I think markets have a little more room to go. Alright we'll be watching how it plays out. David Bonson, thanks so much. Thank you.