Another volatile trading session here on Wall Street with the major

averages staging a pretty big intrad day comeback. Most important hour of

trading starts now. Welcome everyone to Closing Bell, I'm Sarah Eis and take a

look at where we stand in the market trying for our first day of gains for the week and now actually almost flat on the S&P 500 for the week with the S&P 1 1.5 percent the NASDAQ zooming 2 percent right now a lot of the

hardest hit areas of the market are working really well consumer discretionary is the

best performing sector right now that's thanks to names like Under Armour

et ceti bookings expedia sector right now that's thanks to names like Under Armour, Etcie, Bookings, Expedia,

the Arc Innovation E.T.F for a sense of what's working today up 8%.

You've got double-digit gains in names like U.I. Path and Roblocks.

Some of the, again, slammed parts of the market right now.

Look at the sector heat map right now,

and you can tell where the strength is,

pretty much everywhere except for energy right now.

Energy the only sector that is red.

There are the leading ones,

consumer, communication services, materials, technology,

and industrials.

Stocks are rallying right now, but they took a leg lower when I spoke

with Federal Reserve Vice-Chair Lael Brainerd on Squawk on the street.

Here's what she said when I asked whether the Fed would consider pausing those steep rate hikes in September.

Listen.

From where I sit today at market pricing for, you know, sort of 50 basis points, I potentially in June and July from the data we have in hand today

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