kriti: nadia lovell, always a pleasure to talk to you. as we speak to you, we are seeing the nasdaq underperform, dropping as much as 2%. thank you as always. let's get now to the first world news with mark crumpton. mark: the u.s. house select committee investigating the january 6 attack on the u.s. capitol is holding another hearing today. it was a surprise when it was announced yesterday. witness -- a former top white house aide with special access to donald trump and the west wing. in san antonio, texas, an official has confirmed the deaths of more people found in an abandoned semi trailer, bringing the death toll to 50. apparently victims of heatstroke, authorities believed they were migrants. texas has seen a surge in immigration along its border with mexico in recent years. smugglers sometimes use commercial trucks to bring over migrants. in california, the state senate has passed legislation that would allow the public to sue firearms manufacturers for harm caused by guns. the bill is designed to use industry standards to permit l

before we go to import economics before the jobs report, nadia lovell on the physics, the math of this stock market. ubs global wealth management. there is american airlines booming. how do you treat, sector to sector -- how do you treat sector to sector analysis given the uncertainties of the american recovery? nadia: i think what you are seeing is continued evidence of the shift in confidence away from goods to services. this is one of the reasons why we have a lease referred on the consumer sentiment in the market, because we think the shift is happening faster than expected. it has implications for inventory, which has locations for margins and discounts going forward. also, these sectors are still seeing cost pressures. it is becoming more difficult to pass along that third and fourth pricing increase to the consumer, so this is why we think there is some risk to the downside earnings expectations with consumer discretionary in the market. jonathan: with that in mind, looking at the retailers, they have been punished year to date. look at the airlines, a resilient consumer, discip