Let me get this right! You saw smoke and an odor from under the hood and you just parked it overnight? Then in the morning you inspected underhood? Glad you still have a car. Most times a burning rubber smell comes from oil burning off a manifold. I would recommend you go to a self service car wash and clean the area in question, then once back home, re inspect that area. Could be a power steering high pressure hose. You might check the steering fluid container for evidence of low fluid level.