Jim Kramer here to share with you a sample of my take on the market from today's CNBC Investing Club warning meeting.

We got a lot of good news here, good news for our portfolio, and it starts with the idea that we are now day two of rotation to the defensive stocks.

And Jeff, you know, with the ADP number being weak, with something that the Joltz number yesterday,

what you really have is the possibility that the portion of our portfolio that was geared for this slowdown, and in a diversified portfolio, of course, is working.

Yeah, starting to see a slowdown in the labor market.

Of course, Friday, the market will be closed, but the non-farm payroll report

will still be released. So we'll get a little bit more of a confirmation there, but we're seeing

interest rates fall in reaction yesterday to Joltz in reaction to ADP today. And it's giving a nice

rally into some of these bond proxies, whether it's the Procter

and Gamble is working on another strong day.

Jay and Jay, but there's news around J&J, really as well, really just that whole cohort,

the staples, the healthcare names, and it's coming from a lot of cyclicals.

When I was signing bottles at Total Wine and Moore with my wife for phosphoro,

which my wife's brand of Mezcal, Proctor was at 136, and someone asked me, what's my favorite stock?

And before, 136, don't be aware, at 152, it's not my favorite stocking. Right.

J&J up a lot off this lawsuit is my favorite because I think people are misreading what's

happening. J&J had an existential threat to its entire company, AAA Bounge Sheep, but with 40,000

claimants on a TAL case that has, where the claim is asbestos for ovarian cancer, very sympathetic

plaintiffs, they lost a big case in Missouri.

It looked like for what we could tell, it was more important than the big split up that J&J has been doing.

Well, what J&J did was tried to, they went to a court, they tried to get something made that what a lot of people felt was a cut corner.

They put $2 billion in. The plaintiff's bars come back and say, listen, if you give us $8.9 billion, we're fine. And that's what's happened. 8.9 billion is a very big number, but now when it comes to J&J's balance cheap. It's going to go to a court in Philadelphia, Michael Kaplan, who agrees this is the way to handle it. The Third Circuit Court that didn't like the way to handle it will not have any role because the plaintiffs will not appeal. Long story short, I am saying the existential

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