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

Once again, as I keep saying and what I also mention in Twitter, if interest rates don't back, don't come back down.

If oil doesn't come back down, we are not able to rally.

Right now, we're in a mode where people are trying to figure out whether that can happen, but the NASDAQ has spoken, it's not going to happen.

Yeah, and interest rates initially were a little steady on the day, maybe a little bit of dip, but right when that ISM services number came out at 10 a.m, very strong, we saw a yield spike that put some added pressure on the markets.

And same with oil, by the way.

You had oil initially was slightly down.

That reversed positive.

So that's a headwind to the market as well.

And now we're starting to see companies warn about the impact of higher oil prices.

Southwest Airlines this morning.

The Southwest News was devastating, I felt,

for industry. Now, Southwest has been poorly performing for some time, but at the same time,

what could afflict them, could afflict everyone. Now, just so you know, I think people have to

recognize the Saudis like Biden. But the Saudis have a good relationship with the Republican Party too. Soides are not at war

with anyone in terms of what they want. United States wants higher oil, if you're from Texas.

So there's no real consensus to keep this thing lower other than the fact that maybe not wanting

to have a worldwide recession, which should matter. Yeah, and I think you should call out too just going back to Southwest for a

moment. They said August leisure bookings were on the lower end of company expectations.

First time. That may pressure some traveling leisure stocks today, but I think it's also good to mention

that not only it was that, but it was oil, but it was fuel prices, but also on the booking side.

Look, these are hidden illnesses for many of our companies.

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