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

morning meeting.

We're all kind of focus I know on Elon Musk and whether it be his car or whether it

be his rocket.

I want to bring us back to Earth and say this pattern I see of the market opening down off

of Europe continues and people are then picking their spots.

I will tell you, Jeff, that the drumbeat of recession is very hard to stop,

even as D.R. Horton reported great numbers. Even as I see New Corps reporting great numbers,

they're all mad tonight. So it is not a cut-and-dry must-have recession. I don't see it.

Sure.

And of course, some of the reasons why Tesla is down today is because they are lowering prices

for their vehicles, and that is deflationary.

But that's deliberate.

That's deliberate.

Right.

Well, it's deflationary, which is good for the consumers.

Bring down pricing there.

But also, the American Express,

now, of course, they had some provisions, much like every other bank that has reported, but they're

a credit card. But the spending data was very strong there. So we are seeing a lot of consumer

stocks rallying today. And as long as you have the consumer, perhaps the economy can still

keep running.

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