Stocks building on gains throughout the session near the best levels of the day as we head toward the close the most important hour of the trading day starts right now

Welcome to the closing bell I'm Melissa Lee in today for Sarah Eisen here's where you stand in the markets we are are firmly in the green, but we are off the session highs.

S.P. 500, just about 11 points off the interday session highs. We're up 2%.

Our 4065 is a level. The Dow is at 1.9% the NASDAQ composite is staging a 2.9%

gain check out the S&P sector leaderboard nearly every sector is higher but

consumer discretionary notably the lead here, we had good guidance for the likes of

William Sonoma and Macy's, and that's really helping sentiment in that group.

And that is seeing a 5% gain in today's session so far.

Coming up in today's show, housing-related stocks

getting a big lift today, even as cracks emerge

in the housing market.

We'll talk to the CEO of online brokerage Redfin

about what he is forecasting for the real estate market in the face of

higher rates. But let's get to our top story. Can you trust this rally? That's the

question being asked across Wall Street today strong retail earnings results pushing

stocks higher today but how long can this last?

Joining us now we're Ali McCartney from UBS Private Wealth Management Jim Bianco

of Bianco research good to have you both here.

Ali I'll start off with you and I got to be honest, I read the notes through and if we played the game

guess the strategist target based on their market outlook, I wouldn't have guessed 4,700 by year in on the S&P 500 from you.

Yeah so look we have come in over the course of the year and you know I think that is still a

bit bullish,

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