Hey, it's Kramer, and this is my morning take on the market from today's CNBC Investing Club morning meeting.

Jeff, what can I say? We have a boom and a recession at the same time. It does feel like that.

I could argue very easily that with PMI, we're obviously in recession, but then you came to me with Joltz, not in recession.

Yeah, Chicago PMI, very disappointing. That, of course, measures the economic health of the manufacturing

sector in Chicago, very weak, dropping to around 40. We were looking for 47. It's very well. It's very

concerning. It obviously also explains why we've been seeing such weakness in a lot of manufacturing industrial companies as well.

Which we own.

And, you know, there's no hiding it.

If it's industrial, it's getting killed.

It doesn't even matter where it is in the cycle.

And a lot of this also because a lot of these companies had lived off of oil.

Yeah. And at the same time, still some very hawkish Fed comments, people looking for one more,

yet another rate hike at the June meeting that's coming up. So, you know, some conflicting forces

out there. Well, and in conflicting, you sell, especially at the end of the month.

You lock in what you have.

Now, yesterday we did a very thorough analysis.

Thank you for you.

Standard importance, if we just did the equal weighted.

Markets down.

Right.

So if you're just looking at the market, the S&P 500 being held really together by a group of,

let's just call it 10 stocks, the mega cap tech stocks, AI-related stocks. Outside of that, a lot of weakness.

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