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

I only get right there to say that when I was in economics class, I always heard if there could ever be a moment where you could have good wage growth,

not terrible wage growth, but could hire it. So you didn't have, you know, plus two wage growth

and they create a lot of jobs. That's Nirvana. Well, that's what we have. But it's not Nirvana if you're in the bond market, which wanted to see bad wage growth and also layoffs. And it's not, the bond market's not appeased. So that makes it so the stock market is not appeased. Sure. But look, to your point,

it was a reacceleration in job growth, the average hourly earnings, up 0.2% month over month.

It's the softest month over month increase since Feb 2022. So it is kind of a little bit of a

goldilocks from that end, but still you're seeing a big sell-off in the bond market,

which of course is causing yields to spike and stocks down. But look, the futures at one point looked

a little much worse than this. We're kind of hanging in there, which I think is a good sign.

Right, although it's early. And I think that there are always people who are going to say that

if the bond market's bad, then

stocks must be sold. Now, I don't agree with that. I think that you have to say each tub

on its own bottom. I think that tech is very good in this environment, because if you don't

have wage growth, then you don't have a lot of inflation. And if you don't have a lot of inflation

and you don't need to borrow, then you're fine. Especially that's leaning into companies who are

profitable, generating cash flow, more wary of company that, wary of company that may need to,

you know, raise stock, Verizon, or I was even going to say just in the tech bucket, you know, Rivian,

they did the convertible bond offering.

Very good point.

They needed some money.

They took it after that.

Yeah.

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