I'm Jim Kramer and you're about to hear a sample taken directly from today's CNBC Investing Club morning meeting.

We usually don't start and then dominate with the macro, meaning all these kind of bigger numbers,

but we got slower numbers today in labor, slower numbers today in PPI, and this is proving what I think, Jeff, which is that we are having a slowdown.

And I think the people who are still saying, hey, listen, the expansions intact are whistling

past the graveyard.

I don't think the slowdown means recession, but we're a slowdown.

Sure, and of course this comes after a cooler than expected CPI report from yesterday.

We'll get retail sales coming up soon. That will be another good sign of whether or not slow down.

But, you know, Fed minutes, we do have the Fed a little bit more cautious now. Projecting perhaps we do

get a mild recession later this year. That's the staff. That's important. But remember what happens when

we get this and why we're focused on it. All this means that you buy the NASDAQ. A slowdown with

lower inflation means buy NASDAQ. We cannot overthink this. When we overthink it, we miss big

moves for our people. Yeah, it's the same type of bifurcation that we just saw last week as well, some industrial names lagging.

But tech, especially the mega-cap tech names, are really shining today.

Now, I listened to Andrew Ross, working at his usual excellent job interviewing Andrew Jassy,

but I came away hoping that he would talk about how he's going to let people go and rationalize the workforce. He did not give us that at all. He was asked about the stock prices. He didn't look at it. You know, he did that long-term way machine thing from Warren Buffett. That doesn't look at one. We're talking to Amazon here. But I mean, the stock's been cut in half. We've experienced the cut in half.

First, we bought it a good basis, but I'm still in a what have we done lately,

because you are what have we done lately, and I'm not letting you down. Amazon's not where I want it to be. He has to get efficient. This is a stock that's not, this is a company that's not efficient. It's not efficient.

You can see here a three-year period.

It has not performed well.

A lot of it was because they got hit very You can see here over a three-year period. It has not performed well.

A lot of it was because they got hit very hard by inflation over the last couple of years.

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