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

morning meeting.

The day after election day, obviously there's a lot to talk about.

We're going to go as long as it takes to talk about.

One thing I do want to point out, Jeff, is that there are two markets.

Today is the equity market's turn, and I think tomorrow may be the bond market's turn.

So you have to be very careful to respect the bond market if you do any buying today.

So bond markets turn being just the focus of things, obviously stocks are rallying, you know,

surging to record highs today.

Right, but if you take a look at say 730, all the housing stocks were up. And you say yourself, well, don't people see that they're not really a part of the S&P when it comes to mortgages? I don't know where mortgage rates are going to be. I mean, I'm going back and forth with my writing colleague Matt Horwereween. Look, the short rates are going to go down. Maybe they can do something involving teasers. Fed expected to cut tomorrow. Yes.

But I do think that the ones that are up are the ones that can have natural momentum,

even if mortgage rates go higher.

Well, I mean, look, the move in the tenure, it is a little troubling.

It's 4.45% roughly is the yield. Trump policy viewed a little bit more inflationary,

whether it be tariffs, tax cuts, less immigration. So that might be a factor playing out as well.

As you mentioned, tough on housing stocks, the home builders, Home Depot, Stately Black

Indector. We have to make a decision when Home Depot is overdone.

And I don't know when it's overdone, but tomorrow is a day where the Fed costs rates, and the money will come back to home. Yeah. And then you have the dollar strengthening as well, oil lower. So how's that play for Procter & Gamble? Well, I think if you're talking about any type of multinational that does a lot of business

overseas, the higher dollar will be a headwin to their numbers. Not the core numbers, but

we sold Proctor. We sold J&J. Abbott is a special situation now, but it's about to win, I think,

run the table against litigation. They have about more than half their sales overseas.

Right. So how do you feel about

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