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

We had some inflationary numbers that I thought were ran hot, but sometimes you have some numbers that can transcend that.

So the Dow gets hurt by the inflationary numbers, I think, but look at that, Jeff.

Nasdaq, funny thing, one of our largest positions is Amazon.

Yep, seeing a lot of strength today.

And Amazon, of course, after earning, some bounceback in meta, which we definitely like,

especially after upgrading our rating yesterday.

Microsoft, too, having a good day.

But the Amazon quarter was to stand out. The ones that could take it higher, I mean, behind the scenes, I make a lot of calls, and it's kind of what we do. And one of the things that was really interesting was that they were very upset at Amazon when the stock was at 1119 if they're reported, because they said, listen, we did 11.9 billion in profit huge we took share in

Amazon Web Services it looks like we've got a new way to be able to regionalize all

the retail sales we're monetizing Alexa we're monetizing our video and our

advertising is on fire what do you want us to do yeah so what we said to do is

why don't you say you're gonna to make billions of dollars in AI?

And so what do they do? They said tens of billions.

Sure. But the profitability story was great. You had operating margins, 7.8% the highest in 10 quarters.

North America operating margin improved quarter over quarter for the six straight quarter, highest since the third quarter of 2018.

So you're getting back to these pre-pandemic levels, which they said they would.

And a lot of it is due to that regionalization of the fulfillment network.

Originally, they just kind of had one single.

If you wanted baby powder, you get it from Dallas.

And now they have eight distinct networks.

So that's increasing speeds, reducing costs.

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