Hey, it's Kramer, and this is my morning take on the market from today's CBC Investing

Club morning meeting.

I was afraid the market would fall fast because Apple was down very badly before the opening,

because we saw obviously Tesla, but you know what?

We got a really interesting conference.

We got some big readings from PMIs, okay? Very important. At the same time, we have people like Loretta Mester, who's been way, way on the hawkish side, started to say, listen, after the next hike, maybe we should pause. So you have what a lot of people would say is best of all possible world. Some decent numbers and the Fed might be done.

I think so. There's definitely this camp one more and pause, but the recession crowd just grows

louder and louder every day. So when you get a good PMI number, at least that can counteract.

Well, was me credit crunch. Now, look, what's really happened? These mid-tier banks did not do well.

They just didn't.

They were the, look, they were the, look,

Jamie Morgan was the winner of the donor here.

And that was weighing on Wells Fargo,

which has had such a strong week,

giving back some gains today, but not nearly.

It's still on pace for a positive week here.

But speaking of on pace,

when we were signing bottles in Boca Raton, people kept past to me, this was a couple months ago,

what's my favorite stock? And I would say Proctor. And the reason why is really important.

Proctor raised price everywhere. But this is an elasticity argument, even though they had volumes that were not as good

as we would have liked in certain categories. Jeff, pricing power for big brands. What does it say?

Absolutely. It says they have it. Pricing was up 10%. Volumes were down three, but keep in mind,

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