kourtney, we'll see you soon from tiaa joining us back on "closing bell. our twitter question of the day, we want to know have we already seen the highs for the year in stocks you can head to @ of cnbcclosingbell on twitter and we'll share the results later. >>> also on top stocks to watch as we head into the close, seema mody is here with that >> on a down day for stocks especially consumer names and get a check of two outperformers, dillard's rebounding following its disappointing earnings report now tracking for its worst week since july but, again, up about 4% at this hour and invest buy hanging on to gains after ubs raised its price to 87 from 80 bucks and reiterated a neutral rating that company is set to report earnings next thursday up 1.5%, scott. >> okay. seema, appreciate that we're just getting started on "closing bell. ahead, up in the clouds, the software space is surging but can that rally really last and what might it mean for the broader market we do discuss live from the new york stock exchange "closing bell" on cnbc back right after this

rosalind: yes, tiaa.avid: and so, are you surprised that at this late date in our history we only have two? or disappointed? rosalind: yeah, well, i'm more disappointed than i am surprised. i'm not surprised, because i know what it took for me to get here, and i know the trials and tribulations that i've been through. but i would tell you that the disappointing part is that this is just -- is totally ridiculous that there's only two of us. i think, you know, it's going to go beyond mentoring and sponsoring. it's pipeline -- filling the pipeline effectively, getting people of different races in operating roles, and having the confidence that that they can do it, because they absolutely can. david: so, in your career what has been a bigger problem, being a female or being african american, or neither? rosalind: you know, i would have to say being african american. i think that it is still, you know, an issue in our environment to accept people of different races, more so than it is gender. i think i've seen

rosalind: yes, tiaa.: are you surprised in this late date in our history that we only have two or disappointed? rosalind: well, i am more disappointed than surprised. i am not surprised because i know what it took for me to get here and i know the trials and tribulations i have been through. i am not quite sure a lot of people would want to withstand that. i will tell you the disappointing part is this is just totally ridiculous that there is only two of us. i think it is going to go beyond mentoring and sponsoring. it is filling the pipeline effectively, getting people of different races in operating roles, and having the confidence that that they can do it, because they absolutely can. david: in your career, what has been a bigger problem, being a female or being african american, or neither? rosalind: i would have to say being african american. i think that it is still an issue in our environment to accept people of different races, more so than it is gender. i think i have seen a lot of progress with

she's now the ceo of tiaa-cref. she's incredibly powerful, incredibly accomplished. but she talked about and i put this in the book, the encounter and people in her career who clearly felt like she didn't belong there and that is the that is the culture that needs to change. yeah, i want to keep the focus a little bit more on the customers themselves and ways to fight that one is mystery shopping. you cite. and then the nonprofit national community reinvestment coalition in crc, who does a lot of work of of compelling banks to invest in black or brown communities. can you just talk about the importance of secret shopping in and holding banks accountable? mystery shoppers are a great concept, and i wish i could remember where i saw this, but i actually saw like a trade, a little trade publication in the industry that had a little article saying, watch out, because the doj is doing this for but they're great. so you basically equip two sets of pretend customers with profiles, credit scores and jobs and and you send them into the same bank and see how they're treated. i

former vice chairman of the federal reserve and cio of tiaa. good morning, roger. >> good morning, andrew. >> mike here, roger. >> he's the better one. >> we're all here. >> i'm sorry >> no, no. not at all just give us your take on what we were talking about. essentially there is the statement and there's certainly the the message that the fed feels it is not done and it needs to be sure inflation is taken care of. on the other hand, jay powell seemed to pass up multiple opportunities to get more hawkish during the press conference >> i think you are right on all those points i think they were very clear about one or probably two more hikes to come. they were very clear in the press conference that maybe it is just one, depending on the incoming data. they see the process of inflation slowing which is progressing nicely having said that, i think the market chose to ignore the possibility of two i think the market believes something the fed does not that is going to be such a deep change in recession that the fed has to ease. the fed is not buyi