s retailers, including target, macy's and nordstrom reports strong sales of beauty items in their lasts reports. ulta beauty also says overall sales rose nearly 17% compared to last year. now, some of that might be people are opting for doing their own makeup, their brows and their nails to save money. and let's also say sales of beauty products decreased during the pandemic. so now there's pent up demand. as people are now venturing back out and heading back to work and as the climate crisis continues to threaten the globe, the construction industry is taking a greener approach to new projects. contractors are engineering new ways to build homes without doing more damage to the environment. they are shifting their focus on using renewable resources such as wood in place of steel and concrete. steel and concrete have a fairly large carbon footprint in terms of their production. um they're each account for about 10% of the carbon dioxide emissions globally would. on the other hand, um, basically has zero or negative carbon footprint. now architects also say would has great performance a

macy's shares are down 1%. >>> cnbc is out with a new fed survey marking down average 2022 outlook for the s&p, this for the sixthsteve liesman has the details. steve? >> good morning, david the outlook for stocks amid expectations from sharp rate hikes from the fed are still dark the more likely message the fed is going to hike and hold here, take a look here the end of 2022 looking at 3953. 2.5% higher than we are right now. under the circumstances that would not be a bad outcome 4310, that would be 12% higher not a bad outcome. again, you can see the markdowns continuing through 2022, maybe a little more level than they had been in the past the ten-year,.5 -- 3.55, ending 2333 these have been continuously ratcheted upward along with where the market has gone. here's the expectation, 75 basis point expected from the fed to be announced tomorrow. peak rate at 4.26, 40 basis points higher than it had been, peak rate reached in march 2023. now the idea of hike and hold is taking hold with the fed expected to stay at that peak rate for as many as 11 months. recession probability around where it's been, 52% the only