I'm Jim Kramer and you're about to hear a sample taken directly from today's

CBC Investing Club morning meeting.

Got to tell you have a very strong market and you might be surprised one of the reasons

why we have a strong market is the employment number but if you look at the actual number

it was strong however you must average things in because unlike a number that's generated

say from a technology company, the labor department has historically poor doing its job. And, Jeff,

they left us with a number of the faculty's ho-hum. Yeah, absolutely. There was a negative

revisions of minus 149,000 over the prior two months.

So if you added in with April's gains, you make a net 104,000.

But wage gains still a little high, a point five percent, month over month.

Still too high. First point three expected.

I guess still haven't seen the impact of all these layoff announcements yet hitting the job market.

People are still finding jobs and what's

interesting though is that we're in a situation where when you see the NASDAQ up that's been

the proxy that's got to be when that's down then there's a lot of bets that we are going to be

that the long bond the 20 years going to be right with a 3.3 3.4 yield I think at this point blank says it's not going to happen. Anyone who thinks the Fed's going to cut this year, you can't cut when you're raised. No. You say you can't have a meeting where you'm cutting and I'm raising. Doesn't work like that. These are numbers that are strong enough to have still one more hike. Absolutely. So the beginning of the week, you outlined four market hurdles. The first one was the Fed hike. Second, Apple earnings. Third job support. But the fourth one is perhaps the one that's going to hang with us for a while, the debt ceiling crisis. Now, you know, you are oversaw oversold. We're minus three. We're going to come in Monday. It's going to be Warren Buffettville historically that you, that you get the medium on weekend. It's going to be very, very bullish because that's who he is. And then you get a nice lift on Monday and you sell into Monday in order to be able to raise enough money, be able to handle a debt crisis that it's going to be very negative for the stock market.

Yeah, and it definitely helps today that we're seeing a big rebound in a lot of regional banks.

J.P. Morgan upgrades a few of the higher quality ones, and that sentiment spreads itself throughout the market, helping a Wells Fargo as well.

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