what did we learn and the best trades in the sector now here with three buys and a bail, is gina sanchezit's great to see you. your first buy is ulta beauty, the stock soaring after reporting that record first quarter, raising its guidance, the ceo says double digit sales growth across all major categories the stock only back to flat on the year. >> ulta, flat on the year is not bad for this year, kelly, so let's keep that in mind. but, you know, beauty right now is one of those places actually not just a strong spot for ulta directly, but you heard it in the target earnings call as well, that that was one of the bright spots there, even though they had a hard quarter. this is an area with masks on, beauty products are back on, so everybody is going out and buying what's interesting is that they're not -- because of inflation, you would have expected people might have traded down, but they're not they're actually staying with the prestige products which have a higher margin and great for ulta. >> it was one of oliver chen's big picks when we talked to him for many of the same reasons you

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gina sanchez and kim forest. the major question for the markets and the economy is whether the inflation rate is likely, or not to fall sharply in the coming months and unfortunately, the data point to a lot of persistent price and wage precarers the labor market is are where where we see the over heating. they hit a record 11.5 million and the quips hit a record that's two openings, almost, for every unemployed person in america. then we got the first quarter report on labor costs and p productivity so, that's compensation benefits and all of that. but it's still trailing inflation. in real terms, it dropped for the second quarter in a row. it was down 1.4% year on year. you're right if you feel like you're not keeping up. this morning got the big jobs report, the wages number they were soft but still up 5.5% from a year ago. and for nonsupervisory workers, they were up more than 6%. not only a huge increase, it's not enough to come out ahead in real terms all of this is why the market seems more focussed on inf

we have lee baker here and gina sanchez here with us thank you for being here this morning. >> good morning. >> a lot to breakdown. we ran down the resume, if you will, of the markets for the last month nasdaq with the worst month since the financial crisis lee, you may be the minority we see the bad month ahead and expecting a rate hike. you believe there is a possible bounce for the markets ahead explain it >> absolutely. this repeated itself i think it happened a couple of months ago with march with the first rate hike. then a 10% relief rally. i think what we have here is a situation where particularly last week, things just got overcooked to the down side. yes, we will have continued volatility through the year. i think we will have a pop, assuming that the fed doesn't do anything surprising. a 50 basis point rate hike we will see relief. >> we are expecting a 50-basis point hike is that going to hit the technology stocks again? it is a big part of the market these days. >> they are a big part of the market some of the technology stocks might still be in for a touch of trouble. amazon,

is that fair we have gina sanchez here with us happy to see her in person at the conference good to see you across the tv screen as well is this all -- by this, i mean the markets big drop in 2022 is this all the fed's doing or is itt something else? >> i think it is a little bit of something else we basically had a pandemic that destroyed supply chains and a war with ukraine that elevated oil prices i think most of what we are seeing right now is actually the effect of higher energy prices and food prices more than anything i think that is coming out of sanctions with russia and supply shortages we have had that we were not able to, you know, to replenish before russia invaded ukraine. everything coming out of inflation that has forced the fed into the corner has really been about energy and food prices and not about real wage hikes. we have seen some wage inflation, but it doesn't explain an tthe majority of the picture. if you see the big picture, it is all about energy. >> it is we have been trying to ring that bell for a couple of years now in the reporting from the u.s. and around

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