running, not when they're cheap. >> courtney? >> we've been talking a lot about artificial intelligence. copper is actually one of those things that is going to be needed in the scheme, so, free month mcmoran is the way to play that. >> dan. >> smh. >> guy? >>grow. >> thanks for watching "fast." "mad money" with jim cramer starts right now. my mission is simple. to make you money. i'm here to level the playing field for all investors. there is always a bull market somewhere, and i promise to help you find it. "mad money" starts now. hey, i'm cramer. welcome to "mad money." welcome to cramerica. other people want to make friends. i'm just trying to make you a little money. my job is not just to entertain, but to teach you and educate you. call me at 1-800-743-cnbc newsom or tweet me @jimcramer. we can't get a strong employment number like we did on friday and just forget about it on monday. it's too important to leave in the dust like some kind of run

of the mill data point. so on a day where the dow dipped 11 points, ts&p edged down, i think it's worth thinking about if not resurrecting what the nonfarm payroll report means for our economy and our stocks. first as i've said for years, this is the most consequential set of numbers we get from the federal government. nothing even comes close to the monthly labor report. that's how big it is. i first analyzed this over a decade ago, and it's never lost its significance when i look over the years. this is the number that controls a lot of the narrative. so let's break down the release. first thing that catches my eye is the household survey where the unemployment rate 3.8%. the economy created jobs last month. that's ridiculous. we have 3.8% unemployment. [ applause ] when we've had 11 rate hikes? historically high, when the fed is attempting to suck liquidity out of the system? can you imagine how low the unemployment rate would be in this economy if the fed were to

try to create jobs instead of stamp them out to beat inflation? right now this economy is nothing short of an economic miracle. the 303,000 jobs created is much higher than 231,000 average over the prior months that is remarkably hot. this morning i got to interview gina raimondo about a grant that taiwan semiconductor so it can help support an investment of $65 billion in leading edge semiconductor foundries in phoenix, arizona. if it takes $6.5 billion to get $65 billion investment, that's pretty darn good carrot. when we drilled down, madam secretary said the project would create 20,000 construction jobs and 6,000 direct manufacturing jobs when finished. i, frankly, was flabbergasted, because i couldn't even imagine where they're going to find these people. it's going to be borderline impossible with unemployment this low. we simply don't have enough documented and permitted construction workers in that part of the country. and america doesn't produce

enough engineers to ensure that taiwan semi can get things going by the end of the decade. given that these are the best of the best chips, at least for right now, we're going have to recruit like you wouldn't believe. we only produce 70,000 undergraduate engineers right now. taiwan, a small island nation with not even a tenth of our population has 11 major engineering programs with 176,000 students. what a disparity. when you consider that our country added 39,000 construction jobs in march, about double the average monthly gain, it's worth asking where the heck taiwan semi is supposed to find an extra 20,000 construction workers. maybe in the greater phoenix area. are you kidding me? they want do to do a nationwide 167. this is not the old days where there was plenty of surplus labor in the united states. most telephone other numbers like part-time employment were little changed in march. these numbers would typically be going up, maybe up big at this point in the business cycle would put downward pressure on wages. no, it's not happening. average hourly earnings for all

employees increased by 0.3%. over the past 12 month wages are up 4101 pounds were. that's incredibly consistent and strong. it makes me question whether the feds should declare they were done tightening. with this hot labor report, it sure feels like they left the job unfinished. we put 72,000 people to work in health care. now we know nurses are short, but 18,000 are in nursing and residential care facilities. where the heck are they going to find these people? or how -- find more of these people. or how about hospital workers? they added 27,000 jobs. could that be more post-covid surgery, something we know has hurt the health insurers? they have to keep hiring people. you know the price of labor is going to go much higher. we're constantly discussing the state of the consumer. aren't they cash strapped at this point? apparently we should stop worrying, people. employment, leisure and hospitality trenlded up big. the report said, and this how returned to prepandemic february 2020 levels. that's an increase of 49,000 jobs. that's another sign of a roaring

economy. it could be that more people are. cog back to work and going out to the same old places. it could be that people have started being more social. it could be people are long on money and short on time and realize they'd miss today much of life when they were cooped up in their homes for covid. remember, covid changed our habits, and unchanging them is not easy. then there is one that seems beyond the pale. government hiring at 71,000 positions? which is higher than the average monthly gain. these are the big gainers. everything else is pretty much the same, which is a statement in itself. now there could be some give here from immigrants who get documented work status, but the government won't disclose those numbers. i understand where they're coming from because it's politically sensitive. but unless we get more workers or more people lose their jobs, the economy could stay too hot, and long-term interest rates will keep climbing, as they were today. they're back to november's level. so now let's zoom out. we know that employment truly decides consumer spending, which is about 75% of our economy.

we could make a ton of presumptions about the consumer from these numbers. to those who think credit card use is up big and therefore dangerous, i count were these employment numbers. these numbers say that's surprising, unless the auto companies had such bad supply chain problems that they finally caught up and are now running all the job creation with this new product unsaleable evs. these numbers say why we learned what happened this morning make sense. that's blackstone real estate, a division of blackstone. just shelled out $10 billion for air communities. that's a big real estate investment trust. owns high quality rental housing in coastal markets like miami, los angeles, boston and washington, d.c. a.i.r. communities represents the highest quality large scale apartment they ever bought. my decision to buy the properties makes me think while office real estate may be questionable, apartments might be undervalued. this is different than when steve mnuchin poured a billion

into new york, which seemed dialsy because so many of the units were rent controlled. here blackstone put in $4 million to invest to pursue further growth. you don't do that if you believe this economy is facing a hard landing or even a soft landing only make that kind of decision when you think it's a no landing scenario, which is what i'm starting to believe. which brings me full circle. we have a robust economy. so i'm a lot less worried about this upcoming earnings season. when i checked the record historically, this kind of job creation without a ton of inflation is about as good as it get, regardless where short-term interest rates are sitting. bottom line, if you're hoping for february fed rate cuts from the fed, don't hold your breath. this economy doesn't need it. just be glad we aren't getting any more rate hikes. yikes. ed in florida, ed? >> caller: hey, ed -- i mean, hey, jim. this is ed. i'm calling from florida. i wanted to see if your opinion

on abbvie, i've had it for a while. it is going to be going sideways still or it's a sell or a hold? >> it's been hurt by the turn against these stocks. but the stock was at 182. it's come down to 169. i would tell you that i think at 163, 164, i would actually start buying it again. we on the other hand it for the trust. we sold it. we made a lot of money. and i'm looking to get back in, only because they make botox, and botox is essential for a lot of tease people taking glp-1 drugs. let's go to bob in illinois. bob? bob, you're up. it's jim. >> caller: okay. i've been interested in cabo for a while. it's surged from 45 to 65. i got stocked out a little around 60. and now it's kind of floundering. is there a good point to get back into it? >> i like cava right here. to be honest, i like cava.

i think it's a terrific situation. it's come down from a high. it's got to me it's got great fundamentals, long-term growth. it feels a lot like chipotle did when chipotle started. you're not going to find this stop to be ever really cheap. it's got too good a bloodline to have that happen. all right. this economy doesn't need rate cuts. just be glad we aren't getting any more rate hikes. gold just touched its all-time high. so why aren't the mining stocks following the precious metals footsteps? i'm listing important reasons why there is a dichotomy in the space. then, we continue the series of winning small cap stocks and seeing which names investors could, quote, bank on for potential gains. and you can find ferguson inside your home. you can find it on the construction site. but does the stock deserve to be in your portfolio? i'm getting the latest from the ceo. so stay with cramer. ♪ don't miss a second of "mad

money." follow @jimcramer on x. have a question? tweet cramer, #madmentions. send jim an email to madmoney@cnbc.com. or give us a call at 1-800-743-cnbc. missomhi? setng head to madmoney.cnbc.com. at corient, wealth management begins and ends with you. we believe the more personal the solution, the more powerful the result. we never lose focus on the life you want to build.

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my name is oluseyi and some of my favorite moments throughout my life are watching sports with my dad. now, i work at comcast as part of the team that created our ai highlights technology, which uses ai to detect the major plays in a sports game. giving millions of fans, like my dad and me, new ways of catching up on their favorite sport. her uncle's unhappy. i'm sensing an underlying issue. it's t-mobile. it started when we tried to get him under a new plan. but they they unexpectedly unraveled their “price lock” guarantee. which has made him, a bit...

unruly. you called yourself the “un-carrier”. you sing about “price lock” on those commercials. “the price lock, the price lock...” so, if you could change the price, change the name! it's not a lock, i know a lock. so how can we undo the damage? we could all unsubscribe and switch to xfinity. their connection is unreal. and we could all un-experience this whole session. okay, that's uncalled for. over the past couple of months, the price of gold has rallied from $2,000 to over 2300, and our resident commodities expert thinks it could potentially run all the way to 2600. possibly even higher. so far she has been dead right. but there is something strange about this gold rally that you may have noticed until recently. it hasn't really spread to the gold miners. overall, the actual commodity is up almost 29% from lows last october. look at the miners as represented by the vannett gold

miners etx or the younger smaller gold miners etf, they didn't particularly well until they took off last month. why the heck did it take the gold miners five months to catch up to the underlying metal, and what changed that allowed them to catch fire in march? in january they retreated and giving back their late 2023 gains that was counterintuitive. but it was earnings season, and the reason the stocks shrunk is simple. they didn't put up strong numbers. in fact, we heard some very worrisome comments about rising production costs, and those freaked people out. take cramer fave barrick gold. one of my favorite on the planet, mark bristow is one of the best operators in the industry. reported mid-february, technically turned in a 7-cent earnings beat with inline gold production and inline revenue. the stock got clobbered in response because wall street didn't like what they had the say about production costs. we already knew the costs were

creeping higher. last year the mining operations came in, keep this number 234 your head, at $1,335 per ounce, up 9.2% from the year before. in the fourth quarter, specifically, the all and sustaining costs for the gold mining arm amounted to $1,364, up 8.7% year-over-year. let me give you some perspective. so this is going to tell you why the stocks have not done well. just five years ago, five years, the company's all in sustaining costs were $806. see, that's how you get blown out. when your costs are $500, remember, you're spending a lot of money. and you don't realize big gains until gold goes sky-high. meanwhile, barracks gold realized gold price for 2023 was up 8.5% year-over-year and realized price for the fourth quarter was only up 3% over the same period. in short, at least the prices barrack was getting. and that dynamic seemed to be getting worse toward the end of last year. hey, look, worst of all, and

remember, this is the best of the best. barrack's four-year forecast indicated production costs would keep rising while gold price might be lower than last year this is horrible. management t3% higher than last year than the pid-point range. what's the problem here? barrack's gold increasingly comes from mines in north america. and we are some of the highest wages in the world here. previously, they got more production from latin america, asia-pacific, and the middle ooeb east and africa. it's cheaper to mine. barrack is dealing with higher energy costs and need to pay huge sums of money to get the special machinery. they use a lot of caterpillar trucks that are very expensive. a lot are autonomous drive, but it doesn't matter. plus, as their mines mature, the gold gets harder and harder to extract. in short, over time, the gold miners steadily requires more machinery to maintain the same level of production. excuse me. the only thing that can change

that are big new discoveries. so there is the cost issue on top of that, can you believe it? nobody else sneezes on tv other than me. on top of that is four-year forecast. barrack said it's assuming an average real-life selling price of $1900 per ounce this year that would be down 2.5 from the average price in 2023. nobody wanted to hear when these guys reported, especially as the price of golds we well above the level. the cost is going up. realized price is down. either spitting in 2 the face or management is being cautious with the price. this is not about one operator. we heard very similar stories from most of the other gold miners, costs going up. realized prices going in the wrong direction. even though the price of gold rallied in october and november, that didn't seem to translate in the big gains for the miners. none of them seem bullish about the future. what changed a month ago? why did the gold miners finally catch fire? the latest leg of the gold rally is much stronger than we've seen

late last year. we've seen gold shoot up so mump that the worries about rising production costs are finally negligible. remember, those numbers from barrack? they were only expected to sell gold at $1900 a year. now gold is over 2300. that's $400 higher than they expected. and there is a good chance the precious metals will still go higher. if you leave carly garner, who has been dead right on the issues. we may be looking at 2600 later this year. for every $100 increase the price of gold, companies set to make an additional $500 million. when you do the math, if barrack instead realizes an average price of $2300 this year, which is below, the spot price, an additional $2.2 billion. and that's more than enough to move the move the needle here i bring this up because i get a lot of calls from people who are interested in gold that's true all the time but it's especially true when we've got a red-hot gold rally lately the performance has been puzzling the gold miners

i don't blame you. there are a bunch of good options. first, if you have an easy way to invest in bullion, even with goldbars from costco, they're not really bars, thin things, that's the most direct way to do it then you need to pay up to keep it somewhere safe. second, this is one of the few areas where there is actually a very good gold etf that's the spider sptr, gold shares et 2/3, or gld for short. third, you can buy the miners that usually work, but not at all times. i bike barrack fine, even thou that it's starting to catch up, but i admit my choice did not equal the price of the bullion and i don't know what to do. it always has in the past. bottom line, the miners didn't participate in the initial leg of the rally because of minor cost increases, but once gold rallied hard, guess what the stocks finally caught fire too. and i bet they continue to follow the underlying commodity at this point now that the costs are well above their all-in costs themselves it the price is well above i got to tell you, barrack is

now even better than it was. i feel badly that it did sit out most of the rally. "mad money" is back after the break. coming up, go small or go home cramer continues a stroll through the small caps financials are next. (grunting) at morgan stanley, old school hard work meets bold new thinking. (laughter) at 88 years old,

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last week, i told you the 2024 could end up being the year that the small cap stocks finally start playing catch-up with the big boys that have led the market really for years now. if you believe that interest rates are headed lower, and you know i think they are, then you need some small cap exposure, which is why i've been going through the largest sectors in the russell 2000, giving you my favorite stocks to each group. last week we looked at the health cares and the industrials. tonight i want to go where there is a lot of real value that i found, which is the financials just like health care, there are a lot of them. 76 financial names, including many smaller banks my top five, radian group, which is a mortgage insurance provider that also offers various real estate services. for the last several years we've watched in awe as home builders managed to rally despite facing much higher mortgage rates thanks to a nationwide housing shortage they could still make lots selling expensive homes. as a mortgage insurance play,

it's not a insurance, they're in more of a volume business. they do much better in a world where more home sales are happening at lower prices. that's why their earnings took a 20% hit last year, and 2024 could be a down year don't give up here radian stock has rallied 45% over the last 12 months, including an almost 12% gain year to date better than expected feared quarters, consistently outperforming lowered expectations if interest rates come down hard in the second half of the year, remember, i think that's likely, then radian's mortgage insurance business should pick up too. plus, the stock only sells nine times last year's -- this year's earnings nine i heene,mean nine. nine is pretty good. second favored small cap financial is piper sandler the minneapolis boutique investment bank with a terrific research division. just like so many other financials, this one got crushed by the horrific capital markets environment 2342022 and much in 2023 but piper sandler's business

started rebounding dramatically last year. in the fourth quarter they had 49% revenue growth 129% earnings just versus the previous three months. really good. now this is not going unnoticed by investors piper stock has been bid up from 140 at the end of october to 201 now. but still, it only trades at 17 times earnings okay, more than 9 obviously, but it's not expensive like me if your expecting to continue to rebound in ipos, dead offerings and mergers, then this one is a winner by the way, these are same reasons why i think it's worth buying goldman sachs and morgan stanley which the charitable trust owns piper sandler is the less well-known way to play the theme. and i like off the beaten trail. i like that. small regional banks for a minute the russell 2000 is chock full of them because most are small caps by definition i think they can do better as a group this year, but many of them are not good. and if you want exposure to the smaller regionals, your best bet might be going with the s&p regional banking etf

and that's call the kre, and a lot of people focus on the kre still, there is one small regional bank that i have liked very much, and that's called texas capital bank shares. large capital buffer, it means it's safe. beyond that, texas capital bank is a play on the home market the strongest in the country, which is texas and it's been a winner for the intracountry migration trends over the past few years. plus, it obviously benefits from the ever rising domestic oil and gas position and big wind and solar. that said, the analysts have been down on this one of late, with the stock catching a few downgrades the past few months they're worried about valuation or stubbornly higher interest rates. those rates haven't hurt texas capital bank shares at all i think a terrific sign of strength is it doesn't go down of course, if i'm right that rates will head lower as the year goes on this, one is a

natural winner how about our fourth small cap financial? you might tleb from many years ago. it's donnelly financial services, which is one of the descendants of r donnelly. although donnelly financials is the only one that remains as a public company the other two were acquired. it helps companies and investors prepare their necessary s.e.c. filings along with other essential reports and documents. given the nature of the business, the stock is hostage to capital market activity, but the more companies that come public, the better they do i think it's going to be a bountiful year for new offering second half. so donnelly's financial specs soared because these deals came with hundreds of pages of s.e.c. filings. but then, when that activity dried up in early 2022, this stock, it just got obliterated >> sell, sell, sell, sell, sell, sell >> evers since the ipo returned meaningful numbers in mid 2022, donnelly's financial stocks began making a comeback. it's now been climbing higher

for two years. even if this move, again, not that expensive selling for less than 18 years this time's earnings estimate. a strong start for the ipo market this year, i think donnelly financial can keep putting up excellent numbers that propel its stock higher i frankly cannot believe that this company hasn't been acquired by somebody finally, the tiny one that's really interesting it's called world acceptance corp it's an $864 million consumer financial company, world acceptance corp. it offers individual borrowers loans that are generally under $6,000, but with an average duration of 20 months. the south carolina-based company has been around since the 1960s and more than a thousand across the sunbelt, the midwest and mountain west. it's a good old-fashioned nonbank lender in recent years, many of you have been let down by the credit disrupters think upstart or to a lesser start affirm companies that wanted to reinvent lending but couldn't seem to turn a big profit. world acceptance is very different. they lend small amounts of money

for short periods of time for people who tend to be on the desperate side the metrics are a bit above where we would like with a delinquency of 5.8% at the end of last year that's headed in the right direction down fro 7.4 in 2022 they're well compensated for their risk very profitable business interest rates have risen over the past couple of years, the loan volumes have come down, uworld acceptance has issued dig earnings beats up 70% and again, if the fed keeps cutting rates in the second half, it starts cutting rates in the second half, these guys will crush it, because lower rates will earn more borrowers i like world acceptance. here is the bottom line. you've not got five small fresh cap ideas from the officials along with the industrials and the health care stocks that i highlighted last week. but i think there is a lot of untapped opportunity in the russell 2000 so keep searching for potential small winners over the next couple of days because i think this is where the action will be in the second half let's go to dan in missouri, please dan?

>> caller: hey, dan -- oh, hi, jim, this is dan from kansas city, missouri my question is on -- block on april 4th, morgan stanley downgraded it at a 62 price target in the same day, benchmark upgraded it with a $99 price target what is your opinion on block? buy, sell, or hold >> we had amrita from chasm. i got to tell you, dan, from kansas city, missouri where we went 20 when it minus 9, i would be upgrading this stock. this company is incredible run and i didn't buy into the negativity that we saw in the downgrade. no, not with this management team it's too strong. let's go to ira in florida ira? >> caller: hi there, cramer. jim, a few years ago i bought a stock in a company called goldman sachs in the low 200s. it's now in the low four hundreds my question is should i sell

half of it and/or should i sell all of it? >> it's a great question i would sell a quarter of it now why would i not be more aggressive on the sell side? i think the numbers are going to come through great i'm more worried about a market pullback than i am about a pullback at goldman sachs, which i think is going have a terrific quarter. and it's just been smoking hot, and the david solomon, that he is not doing his job, all that stuff was nonsense they are doing fabulously, and i just wish that morgan stanley, the one i own for my charitable trust were doing a little better maybe the new ceo can move it along. i think there is untapped opportunity in the russell 2000. we talk about everything hopefully my list of financials will hope cure rate your interest in the space and we're keeping track of every one we may build a etf there may be a ben etf he loves to hear his name constantly just kidding see really good. much more "mad money" ahead.

including my conversation with ferguson it's a commercial construction company with small residential and if you are negative on cap takeaways, you better be prepared to pay the price. we learn this the hard way with one of our stocks in charitable trust, and you know it, the stock. what doing being negative. and all your cars rapid-fire in tonight's edition of the "lightning round." so stay with cramer. these two rocky towns are booming, facing soaring success and critical change. >> our biggest challenge is managing the growth that's in place. >> cities of success, denver and boulder. premieres thursday, 10:00 eastern. cnbc.

♪ if you believe that rates will come down this year, i'm still a believer, anything construction related could keep winning, which brings me to ferguson, a major north american distributor for plumbing, heating, fire, safety and infrastructure products.

we had these guys back on if there june of 2022. since then the stock has more than double. can you imagine that? trouncing the s&p 500 in the same period. the results came in weaker than expected. the stock got clobbered one day, down 6%. since then it's already round and hitting a 52-week high again today. even though the last quarter was some people saw it soft, management remains very confident, as you will see in the second half of the year. i think you'll be right. don't take it from me. let's check with kevin murphy, the ceo of ferguson to get a better read on the situation. mr. murphy, welcome back to "mad money." >> thank you for having me. great to be here. >> you had a very positive at the attitude two years ago. i didn't know whether to share or not, but you've got an added wind. we've got mega projects. i don't think people realize how big these are and what a big role you play. so why don't you tell us about how those are kind of the divorced from interest rates. >> so we talked last time about us being just over half residential, just under half nonresidential. and we talked about some of the activity that was starting to happen on the nonresidential side. and when we look at those large

major capital projects, those projects that are north of $400 million in construction value, we remain really bullish on it. onshoring, reshoring and manufacturing, data center activity, sustainability, like electric vehicles, battery, charging, storage, chips. >> very positive. like we saw the taiwan semi. the biggest construction project in america. that's going to have your stuff? >> those are great projects for us. they play well for us because not only is the commercial and mechanical piping systems, but it's everything from underground waste water infrastructure through commercial mechanical piping systems, industrial pipe valve and fitting. really taylor made for a multicustomer group like ours for nonresidential. >> what is difficult for our viewers, they don't see your name. they see caterpillar. how do they get their eyes around where you are if they're seeing a big construction job? >> we're the behind the scenes player that is adding to construction productivity.

we're a b-to-b seller. we're selling to the trade professional. 90% of what we do is the trade professional and only 5% to the consumer. so we're out there working with contractors to specify what products are needed on a project, how do we make construction productivity a reality so that the job is better because ferguson was involved. >> let's talk about who can make the job better. one of the things i know and you have specialized in telling people is trades. we don't make -- we don't make trades people anymore. but obviously, those are fantastic jobs, but our parents had them, i feel, or in my case, my generation. and the next generation is not picking it up. but aren't they more lucrative jobs than ever? >> it's a big concern for us. when we look at -- in fact, it's one of the things that keeps me awake at night when i'm asked. if you look at our trade professionals, we're 300,000 trade professionals short. that number is getting bigger, not smaller. and we look at it and say has to

be a kitchen table conversation where we're talk about it being a great career, a wonderful way to make a living, a wonderful way to start a new business and be an entrepreneur. and they're well paying jobs that are building america. and that's what we need. that's what we need to keep this economy running. >> okay. so let's think how we do that. how about we've got all these small companies. i know we talked about before the show, but you could roll them up and hire people, maybe even go to like high schools, community college. where do we get these people because we still have some unemployment in the country, even though we're 3.8. but this is something that you do not need to get a comp side degree at stanford to take a job. >> and quite frankly, it's a durable career. >> yeah. >> look at the advance of ai and such, what we're looking at is both on a nationwide level as well as the grassroots. we partner with organizations like microworks who is doing great work to really start to advance the trades. we're involved with women in plumbing and piping. so we're involved at the national level to really make it

attractive. and again, make it a kitchen table conversation. but we're also at the grassroots level. we've got 1700 branches across the united states and canada where we're working with local high schools, local trade schools to try to make this an attractive place for young people. >> what happened? these jobs pay a fortune. they're not bad. what happened? >> yeah, we all of the sudden thought that the only way to make a living and have a sustainable career was to get a college degree. that's not necessarily the only way. >> for 100 gs. for 80 gs a year. >> we've shown you can make a very, very good living, coach your son or daughter's t-ball team at night and take care of the building of america. >> i like it. let me ask you, when you get a job that's from the chip, does the government giving it to private contractors and then you get orders from those contractors? >> so the way we work is actually, and that is a catalyst for the way we want to work going forward. historically, our focus has been you've got to be the best provider of material to the

individual trade. so in the case of utility contractors, doing water and waste water, the best for them. commercial mechanical piping contractors, industrial pipe valve and fitting contractors. but what we've said is we're the only company out there that's doing such a broad range of materials and customer focus. so we're actually going closer to the source of funds, closer to the taiwan semiconductors, the general contractors on the job to work on what are their needs? how do we make sure that we're taking care of sustainability concerns on product. how do we make sure they've got credibility on source of supply and supply chain, while never abandoning that trade professional that is the core to what we do. >> so data centers being built. and we know that eaton is going to get stuff. ferguson is going to get stuff. >> ferguson is going to get stuff. >> who is building these that you get called? >> we get called again the site contract they're is doing the water lines coming up, the commercial mechanical piping krmters that are doing the cooling systems. large diameter steel pipe, truck loads and truck loads.

>> this is nothing to do with rates. that's why your stock keeps going higher. people don't understand. >> and it's a durable run. we think that durable run, it is called five plus years as we go out. in fact, it starts to really hit its stride as we get 25, 26. >> i feel bad because your stuff is so gorgeous for the residential, but it's just a kind of a little bit of your business. >> yeah, new residential construction, just a little south of 20% of what we do. >> right. >> but the good news is that balance is there as well. we're just over half, about 60% repair, replace, remodel. >> right. >> 40% new construction. that balance is a good place for us. >> it sure is. that's why the stock keeps going higher and higher and higher. that's kevin murphy, ceo of ferguson, we always laugh about this stock because we know it seems to go up every day. i'm not kidding. you got to watch this stock. "mad money" is back after the break.

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so, no matter what, i'm running this kitchen. (vo) make the switch. it's your business. it's your verizon. "lightning round" is sponsored by charles schwab, trade brilliantly. ♪ it is time! it's time for the "lightning round." cramer -- stock, buy, buy, buy, sell, sell, sell, and the core question, we play this sound -- [ buzzer ] >> and then the "lightning round" is over. are you ready, skee-daddy? time for the "lightning round." start with julian in florida, julian? >> caller: hey, jim. thanks for taking the call. >> great you're with me. what's going on? >> caller: nothing much. i'm actually from philly, but calling from jacksonville, florida. >> all right. >> caller: i want to ask you a question about hawaiian electric.

i've recently bought a position in it. i saw it was kind of low. man, this looks like a good investmentm m investment. i want to know your thoughts. >> i still fear after the environmental damage. i am concerned that you can't really put a price on it. i understand it's a $11. it seems like the price. but i am concerned that this stock could be worth still too much versus -- i think that the fires were too great, and therefore the stock could still go lower. let's go to sal in new york, sal? >> caller: what's cooking, cramer? >> well, not much right now. how about you? >>. >> caller: well, we got real good pomodoro sauce. hey, some people like making meatballs. i like making money. >> i like that. i share that. >> caller: you had the pom-poms out for this energy transfer company a couple of years ago. for better or for worse, it pays a small dividend, has a stock repurchase in place, has a small float, but our administration's

backward energy policy, they're causing ships and stock to be sinking. is this a perfect example of we should be buying when everyone is crying? the company is accelerate energy. >> i think they should. the notion there should be a pause in 2028 is one of the dumber things the administration has done because that canceled a lot of products that take five, six years to do. and that's why that stock is going so low. i would be willing to bet they have to change that 2028 and that stock is going to fly. let's go to john in michigan. john? >> caller: hey, jim, love the show. >> thank you. >> caller: i wanted to know what your thoughts are on gold, silver, and sabanye stillwater. >> that's a strange company. i don't know enough about it. historically i like stillwater. i didn't know the other part of it. so i think they're okay. but i will come back because i don't want to recommend something and it turns out it

doesn't have the right assets. let's go the christine in california. christine? >> caller: hello, jim. thanks for taking my call. >> thank you. what's up? >> caller: i'm doing great. how you? >> i'm doing well. thank you for asking. how can i help? >> caller: i have a question on stock symbol pen, and i just like to know your thoughts. >> okay, medical device? i'm going send you to abbott labs. because at 110, that's the right stock to buy. the stock got hit big on litigation risks that i don't think are warranted. i would rather see you in abtp-e-n. >> hey, jimbo, i'm with my investor buys, suzie cramer, my dog. we want to ask emr. >> em are now it's working. i was upset they did a hostile takeover. they fixed the situation and the stock has been a horse, because it's one of the companies that

is levered to the data center and the reshoring, the reindustrialization. so what can i say? it's working. it didn't work and now working. let's go to peter in new york. peter? >> caller: boo-yah, jimmy chill how. you, sir? >> i am well. >> caller: good, your wisdom, humor knowledge is second to none. >> thank you. >> caller: and that crew, man, sean, kevin, nicole and aliss sack, they're so number one two. >> wow. you're absolutely right. i'm glad you mention all the names. they are fabulous. how can i help? >> caller: i have to give one quick shout out to marty m. who has been a fan of yours but afraid to call you for years. marty m., jimmy is on the line, and he loves to be watching the show and watching. >> marty, come on! >> caller: you're the best, sir. any way, my question is about ford. >> well, i think ford is doing well. [ buzzer ] the yield the 4.5. the stock is starting to come

back. it's underperformed gm, but it is up 10% for the year. and i don't think that's all that bad. i do think that gm up 23% must make feel like wow, i've got do something. but i do like the story. and i think that the trust has a big position, and i feel very, very good about it. let's go to haharesh in south carolina. >> caller: hey, jim, indian person, club member, long-time listener, making a lot of money. >> oh, thank you. >> caller: and i talk to a lot of indian friends that go to this club and become members. it is helping them to make money and make the decisions that i should buy or not buy. and it helps me a lot the last 15 years. >> thank you for being kind. >> caller: my question is regard ing -- >> which one?

i'm sorry? >> caller: vir tech. i think it's very, very good. people worry about the pain medicine. i'm not. and that, ladies and gentlemen, the conclusion of the "lightning round"! [ buzzer ] >> the "lightning round" is sponsored by charles schwab. the award-winning trading platforms. bring your trades into focus on thinkorswim desktop with robust charting and analysis tools, including over 400 technical studies. tailor the platforms to your unique needs with nearly endless customization. and track market trends with up-to-the-minute news and insights. trade brilliantly with schwab. ♪♪

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♪ if you go negative on a mega cap, you're going have to pay the price. that's the lesson i learned from deciding we should sell from alpha for the charitable trust the last couple of weeks. i'm worried that all these new ai query systems will eventually become an existential challenge to google's lucrative search business. because if you go to microsoft or chatgpt, you're much more likely to use bing next time. i thought my conventional wisdom that google isn't as solid as it used to be didn't seem that controversial, frankly. but that conventional wisdom was blown out of the water today by a series of very positive analyst notes. first, the notes made clear that

the outfit has lost almost no market share when it comes to search. the amazingly lucrative outfit is undiminished and the ad revenue is very robust. as a piece from opko explains, search advertising remains the most effective advertising medium that exists based on the paid click advertising model. roughly 70% market share, alphabet is by far the u.s. leader. in the past that the youtube -- youtube might be worth more than $23 billion. the maybe alpha can be considered undervalued. i've been worried the guys don't know how to manage their media business. they picked up an insanely valuable passage and they could lose more than $1 billion a year on the contract. they seem to have no idea how to advertise against football games. they were running tag videos for commercials with hanging on every play for the fantasy leagues a the end of the last

quarter. but rock star says it will generate an attractive return. so, again, maybe i'm being too harsh. plus, bloomberg said in a wildly positive article about youtube recently, quote, young people have a muscle memory instinct to engage. they quote a survey that 71% of u.s. teens are on it currently and 16% describe their use as almost constant. you can see why any consumer product company would want to advertise there. those are prime years to reach teens. you need to be in front of them when they make their lifetime decisions on stuff like toothpaste or razors or cereal. third reason to hold on, tomorrow. google's cloud next conference kicks off in las vegas with thomas kurian who runs their cloud business. and google cloud is a $41 billion revenue run rate that bank of america says could go to 58 billion. i've seen him. he can do it. fourth, alphabet's constantly doing a ton of research on

products we never think about. the brilliant strategist at jp morgan who writes the eye on the market newsletter noted last week that google's ai can map the true shape of proteins in hours and at minimal cost. we're talking about the basic building blocks of everything here. it took years to map even 20%, costing millions of dollars. there are a ton of other reasons to stay long. alphabet may be doing something with apple and ai. remember how that got everybody excited, but nothing has happened since. they aren't getting any credit for waymo, they're somewhat successful at the autonomous vehicle business. especially when you see elon musk talk up his tesla business and friday and his business took off like one of his rockets. you can all this for 16 times next year's earnings. that's a radical devaluation in its price-to-earnings multiple from what it used to be. alphabet is truly inexpensive by any measure, including one involving itself. so we shall sell no more for the charitable trust. it's got too much going for it.

like all the other mega caps. the next time you think about betting against them or selling them, remember, even if there is a problem, these guys have so many ways to pull a rabbit out of the proverbial hat and turn things around. you don't get that trillion valuation for doing nothing. i like to say there is always a bull market somewhere. i promise to try to find it right here for you on "mad money." right now on last call, call them the sneaky, hot, technology stocks. we have a take that you may be missing. cashing out. what is really driving them inside. we have answers. $100 oil, right around the corner. it may be here sooner than you think. cancel it. the student debt. president joe biden, reviewing a controversial new plan. could add to the cost of college? tax day, nearly here. how can you best preserve your money, your income, your wealth? real-world advice, you cannot