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

morning meeting. This is a week of weakness.

Yeah, we're now working on our third straight day of declines. SMP oscillator, no longer

overbought, but still it's been a pretty big run, pretty fast last week you had an S&P

gain of 3%. So giving a little bit of that back.

A little bit of a counter trend day today, right, with the magnificent seven stops.

This is him coming in. I thought that it was a little unnatural to have Nvidia coming up every day.

Sure. But Invidius meeting with, Justin Walsh meeting with Frank Slubin. And what's interesting is this is the CEO of Snowflake. Snowflake told me, look, we're not having good quarter, Jim. It's just like, get out of town. And yet, Slubin's meeting with Jensen, people said, go buy Snowflake. Yeah. Meanwhile, you have Powell speaking in front of the House Financial Services Panel at 10 AM. Prepared prepared remarks came out earlier. Not, no real news

there. It's very consistent with what he said at last week's FOMC meeting. You know, one of the

things that I don't like about commentators is that they see the market down and they say,

well, the Pals comments are hawkish. No, no, they're not. Pals comments are consistent. Why the market's down is that it's had a very big run and unique catalysts. Don't make news out of nothing. Yes, don't make news out of nothing. Well put. Now, if you want some real news and we just had FTC go after Amazon, at the same time we had a Jeffries note today, they read positively for Amazon, talking about some of the parts, talking about really some terrific.

Again, you got this bounce in Amazon Web Services.

Right.

But this is- Profitability at the retail business as well.

A lot of people believe those retail margins have troughed.

And as those retail margins improve, as AWS re-accelerates, maybe you get a

re-rating, that's how, that's how Jeffreys gets to 150. And I question whether, uh, Me and a Con can

file a suit. And what's funny is, is that she would like to see it broken up, which one broken

up, we'll go to 150 or to some of the parts. So you win either way

when you take a look at this Jeffrey's report. Start your day with my outlook on the market.

Every morning, visit cnbc.com slash morning take to become a CNBC investing club member

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