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

We've got a mixed market here. It's trading down, but it may bounce because we've had a series of brown shoots.

The Plymouth Cost Index came in hot, but the PMI was weaker.

I only get too much in the weeds here. I would say what's happening is I continue to believe that the previous month was not strong.

I continue to believe that there is no stagflation.

I continue to believe that we can be stock pickers here, but we have to have companies that do better than spend it.

No, absolutely.

That's obviously the key to the game, companies beating and raising. Saw some of that today and a few of our companies.

Didn't see that in another.

We'll get into that in a moment.

But you mentioned the economic data.

That comes ahead of the Fed meeting tomorrow.

So we'll get PALS view on everything.

Certainly not expecting him to cut rates.

But we'll see. But why don't we just jump into earnings?

Sure, absolutely.

Starting with Eli Lilly. You know, revenues did miss. A lot of that had to do with the shortages

though of Terseppatide, Manjaro, Zepbound, the GLP1s, not a demand issue, of course,

but a big earnings beat. But the most important thing was that they

raised the full year outlook for revenue, two billion, pretty big number, to 42.4 billion to 43.6

billion, well above consensus. And that's all off continued strong performance in Manjaro and Zepbound,

but also greater visibility into production expansion for the remainder of the year.

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