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tv   Mad Money  CNBC  June 7, 2024 6:00pm-7:00pm EDT

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>> one of these days chloe might in fact be one of the panelists. nvidia. >> i wanted to talk bit coin. i will finish with bit coin. ibit. >> you like my mission is simple, to make you money. i'm here to level he playing field for all investors. there's 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. my job is not just to educate but to teach so call me at 1- 800-743-cnbc. worrying job numbers? what can i say. this economy is creating jobs
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like there's no tomorrow. you would think that we already had multiple rate cuts rather than none. investors seem to think that the labor report did not matter all that much even though the higher rates are right on its heels. the job growth almost seemed more reassuring than worrisome. which is why i think that is better than the dow slipping. nasdaq declined but this one could have been a disaster given how interest rates flew up on the news. as for worrying kitty you could tell that wall street turned up their nose and disdain. they wanted a real's show. so what's going to happen next week? let's go and take a look. this is an unbelievable day. nothing is supposed to be happening? we have three important events for three of the biggest companies on earth. that is apple, nvidia, and
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lilly. apple is rarely newsworthy but this time could be different. we are getting some of what is going on with the vision pro and the i 16. the goal is to find out how many people are ready programs for apple products. the conference rarely causes stocks to run but because we keep hearing that apple is behind on ai maybe they will show us something that shoots down that narrative. as for the vision pro we need to see if developers are doing anything special with it. otherwise they will give up on it being anything other than anish product. my mantra has not changed. on apple. don't trade it. as for nvidia, we are getting attend for 1 split. in my experience people tend to take off it's on a couple and let the rest run. that's enough profit-taking to overwhelm buyers. don't beatdown if nvidia gets hit on monday after the split.
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it's just the psychology. i will keep seven and cell three. on it, don't trade it. how about eli lilly? an fda advisory panel considered the alzheimer's drug on monday. i bet they will be favorably disposed. they have been writing about this document that the fda released about the alzheimer's drug saying it presented a very narrow view of the drug use. the document said it looked to be safe and effective. that sounds pretty positive so i expect good news to the panel. we won't find out anything until the market closes. the panel is supposed to go until 5:00. i think the drug could be huge if it gets approved but nothing near-term. if you want more in-depth coverage we will cover them wall-to-wall for members of the cnbc investing club. oral -- oracle reports after closing on tuesday. they are spending billions of
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dollars for data centers. most of the reaction has been schizophrenic. last time they called a story of aggressive data center growth it was well received. then they said the same thing and it was poorly received. i think they can talk about going all out and it will go higher. we need to think about the $28 billion acquisition. this electronic health records business has not been doing well. my sources say epic, a private competitor, is doing a lot of business. i'm worried about any questions about them n the conference call. this one makes sense but does not usually pop up. casey's general store. i know it sounds like a 7- eleven or something but it has a secret weapon. breakfast pizza that remains incredibly popular. it is eaten all day but who does not want a bacon egg and cheese pizza for breakfast or lunch or dinner? it's been a home run for this
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store chain that most of the people in new york have never been to. on wednesday first we get the consumer price index. the cpi will probably come in way too hot and make things tough for the fed. then we will hear when powell will speak. he will still do the ridiculous q&a. i know that we've had some signs of weakness to make it easier to cut rates. when this extremely strong employment we got this morning i bet they will have note choice but to leave the rates higher for longer. both the economy and the stock market have been doing well with it so i feel pretty sanguine about higher for longer. i would love a rate cut but not at the expense of persistent inflation. that is how you should feel. we want persistent inflation to be stopped. after the broad calm reports i'm looking for a big number for this travel trust holding. they have a huge ai component.
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the network equipment is essential for these data centers but they also have this more prosaic aspect which is wireless. that has just been doing okay. the latter would approve it would take off otherwise it's a good situation but not a great situation because they still have this major part of their business that is not doing that well. thursday morning we will hear from signet jewelers. last time the stock got crushed even though numbers were not bad. then it came right back. that puts us on notice. if it gets hit again we might want to buy it. i like the ceo and what she's been doing. if it gets hit like that bring it in. at the close adobe. we've had a highly unusual situation as the stock is down 22% going into the quarter. this is an amazing company. i think they have a problem. that is competition from a design tool company and tried to buy. adobe needs to protect
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price points against it. they are taking share because it is so much less expensive. i know adobe is so much more than just this one product line but the competition is what controls the narrative. it shouldn't. i say never count out adobe. we see results from our age. last one seemed like a breakout. but the stocks shot up huge but came down hard almost immediately. what will it take for rh to get out of this rut ? we know that it is related to housing turnover. we do not have much in this country. probably the least we've ever had. my prediction, there will not be much upside for rh until the housing turnover increases. the firm will host a fireside chat. this by now pay later company i think is doing incredibly well but it has not matter to the stock because investors have no
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interest in financial technology when interest rates are so high and consumers feel cash-strapped. i think the stock should be going higher but i don't they can't get comfortable with it. it stays right here no matter what they say. bottom line i would be careful making a big move before the fed meeting. we cannot be sure if powell will be more emphatic about leaving rates higher for longer given the hotter than expected jobs report. next week lots to chew on but not enough to pull the trigger except maybe lilly. john in washington. >> booyah, jimmy. >> how are you doing? >> i'm doing good. where are you anticipating rypien for the next six months? >> rivian nights to find a way
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to get a lot of money and and i don't know how they do that. i have to tell you i think the decision to not spend all that money and georgia was a wise one. i think it's got popular enough cars that something can happen but right now they need more money. let's go to robert and new york. >> jim, i just want to say why your show is top in the country and around the world it's because you do your homework and that's why you make everybody money. you do your homework. >> i try to make people money. i make mistakes but you are very kind. >> giving a stock that's been flat is not a mistake because i do not lose he may make a mistake but not too bad. >> that is very kind. thank you. >> you are very positive on the company on the morning of january 31. if everybody listen to you like i did they would be seeing a
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return of 28%. j.p. morgan has it at $650 per share. they have over 270 million paid subscribers and building. it is over $648 a share. it is netflix. >> i like netflix very much. i'm convinced they know how to make the great products that we want. that's what it's about. they have done it right. other people just don't seem to understand how good that situation is. by the way i want to congratulate george for crowd strike joining the s&p 500. that stock which went out at $3.50 will be up substantially on monday. we are not sure how emphatic powell will be about leaving rates higher for longer given the red-hot jobs know me -- numbers. i will catch with the ceo of medtronic.
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the makers of uncrustables and goldfish. then i have to talk to you about one that i am really excited about so stay with cramer. don't miss a second of mad money. follow @jimcramer on x. tweeters or give us a call at 1- 800-743-cnbc. miss something? go to madmoney.cnbc.com . ♪ ♪ [ inner monologue ] it was just a regular cybersecurity monday.
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that's me. i'd seen this before... or, had i? ♪ ♪ what was this ai treachery? i needed some help. good thing i knew someone... or... some-thing. [ a.i. copilot ] glad you called, j. [ a.i. copilot ] it's time for an upgrade. awesome. ♪ ♪ [ inner monologue ] my path became clear. ♪ ♪ i knew what i had to do. because they never stop. no time to waste. this isn't sci-fi. this is precision ai. ♪ ♪
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rizzo from medtronic , the big medical device maker. they have recovered the bulk of their losses but wall street does not give this company enough credit for being a great innovator. don't take it from me. we had a chance to speak with geoff martha, the chairman and ceo of medtronic. >> welcome back to mad money. >> good to be here. >> last time we were aiting. now we've seen the approval of what may be the first breakthrough device for chronic pain. you have to tell us about this. this is probably one of the most dangerous areas in terms of what is happening in the country and how people handle pain. you could have an answer to it. >> thank you. we were really excited about this. the product just got approved in late april. what is so special about this, this is the category of
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neuromodulation where we stimulate structures in the brain for conditions like parkinson's or in this case your spinal cord to control pain. particularly back pain and leg pain. what is so unique now in this field is that we can provide therapy. we listen and we talk. we can customize the therapy for the patient. in the case of pain, we are adjusting the therapy 50 times a second. as you move around just imagine your back pain changes as you are walking, running, jumping, lying down. we can adjust the therapy real- time 50 times a second and really customize the therapy for the patient in the moment. that is why we are so excited. >> let me ask you. right now, i take a huge amount of lyrica every day for exactly what you're talking about. can we get off of lyrica?
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17 million people are supposed to be taken that drug. can we get off of that and take something you have? >> we definitely think medical devices in many different areas are allowing patients to dialback their medications and really put a medical device into their therapy regimen. as you know, medical devices are specific engineered solutions. in many cases they don't have the same side effects that you get from oral medication. i definitely think for these type of patients by putting this type of therapy into their life, you can really put the pain in the background. the other thing about it is the device is really small. it it's the thinnest close loop pain stimulator in the market. you can put it in the background and not worry about it. it's working 24 hours a day,
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seven days a week, adjusting therapy 50 times a second. you should be able to live a much healthier and happier life with this. >> i wish the analysts would understand how big this is. i think it is the first real multibillion-dollar blockbuster you have had but the stack is flatlining. maybe there's just not enough awareness? >> i think there is an awareness. it's an opportunity. we are in the early innings of launching a number of products into very big patient pools that have a high need and big growth potential whether it be atrial fibrillation, hypertension and in the neuromodulation space we just talked about deep brain stimulation and spinal cord stimulation for pain. robotics of course. we launch new novel technologies and all of these
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areas. i think we just have to translate this technology and benefit into profitable revenue growth. as we do that i think shareholders will take notice. >> let's talk about another one , the transcatheter aortic valve. this was approved in march. you must have some idea of how big this system is. >> it's a multibillion-dollar market. it's one of the two leaders in the space. we have been gaining share here because of the product improvements and clinical data. we just had clinical data released a couple weeks ago called the smart trial. we went head-to-head with our competitor on what they call small annulus patients. we had clear clinical benefits that show our fall -- valve are better for women. what was unique is this was one of the first studies of its
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kind where almost 90 for -- 90% of the patients were women. women are an understudied group and healthcare. there's a lot of excitement around the trial, results and what this valve will do for this big patient base of women who are suffering from aortic stenosis. >> you have such a great reputation for where you are working there. now the hypertension. i'm still waiting for doctors to be able to say this is the preferred way for people who are obese and for people that don't inc. they have anything wrong. that is the patient population that is, it is so painful because these people have something and they don't think they need it. >> right. this is another case where the medication is a standard care. these hypertension patients are on five, six, seven drugs with
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a lot of side effects. they cannot control the hypertension. here we come with a catheter- based solution. it's a one time procedure under an hour and you are done. we have thousands and thousands of patients that do this around the world and years of follow- up data. we are seeing typically double- digit drops in hypertension with really no side effect profile. now what we are waiting on is more broad covered reimbursement. as that happens we will pair that with more awareness on this. the reimbursement you can get this therapy today in the united states. it's fda approved rake through medical device. the reimbursement is not broadly out there yet. that will happen in the coming months and year we expect. in the meantime we will start driving awareness.
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you will start to see hypertension clinics pop up around the country whereas before this was managed by primary care with medication and not very effectively. you will see big centers of cities putting together these hypertension plans. >> i asked for and my doctor said you are on a generic drug. it is real good. you take it. what is the worry. i said the worry is that my blood pressure is variable. sometimes it is way too high. i wanted consistent. he said the system is not going to support medtronic. who is the system that keeps me from getting what i want? >> that is something -- over the years medtronic has shown a history of developing these markets. developing them based on the efficacy of the product, the clinical data that supports it and the health economics that shows that it is good for the system. it's a good investment for the
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u.s. healthcare system and other systems around the world to make that leads to reimbursement. as we are maybe 75% of the way through that we have the fda approval and health economics and we are working with different payers around the country. as that comes in the system as you call it will start to work in a way that you wanted to. it will be more accessible. this groundbreaking therapy will be much more. >> it is vital that you win. it's vital for the country, vital for whatever the system really is. i think your stock is just so radically undervalued. i think what's happened is the medical system has to catch up with what you are doing. when it does i think the stock is going to go like a rocket. you have too much good stuff. that is how i am positioning my view on medtronic . i want to
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congratulate you because what you are doing is really breakthrough on many different fronts. thank you so much for coming on mad money. i have spent a lot of time analyzing what they have in the pipeline and what they've had approved. it is really much bigger than what the stock is reflecting. take a hard look at them. they have a lot of great stuff. stay with us. [ inner monologue ] i needed some help. good thing i knew someone... ♪ ♪ or... some-thing.
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[ a.i. copilot ] glad you called, j. [ a.i. copilot ] it's time for an upgrade. awesome. ♪ ♪ [ inner monologue ] i knew what i had to do. because they never stop. no time to waste. this isn't sci-fi. this is precision ai. ♪ ♪
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lately i've been seeing more and more signs that the economy is slowing. even if the labor report wasn't what we wanted it might be good for resection recession stocks because some products are essential. for example, package food. we got results from two that i have followed for ages. campbell soup and smucker. it's worth going through what they had to say because i think they both told a compelling story. let's start with campbell soup because the ceo came on. they reported a seemingly right confusing quarter with solid results. they did not give us a lot of guidance. some of the confusion was from the acquisition of the parent of raos and some of the popular
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italian food products. closed the deal in march so it's the first time that they incorporated this into the forecast. that caused a modest hit to the organic sales growth and earnings. the deal was expensive up front but over time it will pay for itself. wall street was confused about how much of the guidance cut was from actual weakness and how much was related to the acquisition. the snack business is now facing some short-term pressure especially among lower and middle income consumers. that freaks people out entirely. even though the next sentence was much more positive. we are seeing modest improvement in the snacking segment in recent weeks with the expectation of a full recovery in the first half of fiscal 2025. so campbell soup is optimistic on the near-term future snacking which is important because they have some huge snack foods. when we had clouse on the show yesterday he gave us some
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clarity. i thought he was much better on the show that on the conference call. listen to this. >> when i think about the role of snacking and i think about what we have built in this transform portfolio. 50% of the business is smacks. i see no structural problem. i expect outsized growth. >> that was so much more clear. it made me feel so much more bullish. he said i've done quite a few acquisitions over the years and across the board this integration is going fantastic. the business grew 27% in the quarter. neutral on eps. how many times have you seen a big scale integration have no dilution in the first quarter. you put it together on a pro forma basis the total company would have grown 2% and the meals and beverage division without an up 5%. it's a much better story that i
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heard on the conference call. it is huge. i think worried about that earnings in the current quarter would be shortsighted because it is going gangbusters. there's other positives with clouse explaining that campbell's dedicated and ability to grow sales with higher volumes not price increases. also improving its margins without the benefit of higher pricing. after speaking with him i feel much better about campbell soup. the stock is cheap with a solid yield. you have my blessing. if you want to own campbell's i say yes. how about smucker? they purchased hostess best known for junk food like twinkies and dingdong's. right as we are adjusting to the brand-new world ofpickett hit a
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-- hit 52 week low. the sales were softer than expected but the company earned $2.60. smucker also offered good enough guidance for the 2025 fiscal year which ends next april. they are talking 9.5 to 10.5% sales growth which is not bad. the midpoint of the earnings forecast was $10 and the street was looking for $10.18. it was enough to compel the stock from $110-$150. some of the brands are doing very well. off the strength of the uncrustables doing well both at home and abroad . the pet food business grew double digits after they sold off some non-
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core brand. as for the newest segment, the hostess business giving a little light. with campbell's i would call the smucker results solid but certainly not spectacular. for one of the most hated stocks in the entire market solid is good enough. i still think the hostess deal was a mistake and they have to turn around the coffee division. they have sold three turns lower than average historical multiple numbers. they usually so much higher. they have a 3.7% dividend. that will get more attractive as interest rates come down. i still expect them to come down but not aggressively. i feel incrementally more positive on the packaged food space. for those stocks specifically i do prefer campbell's. the acquisition was
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much better than the hostess to acquisition. there are many other packaged food stocks i like. tysen is up 16%. i endorse hornell. they got hit with a 10% selloff because the quarter was beset by issues such as manufacturing hiccups. i think it was really overblown and they told a good story when they came on. i would be a buyer. general mills may be the most consistent. if you believe campbell's that this cooler period processes -- for snacks is temporary you might want to look into kellanova. we just heard
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encouraging things campbell soup is the market to name. tysen, hormel, general mills, kellanova let's take some calls with mike in connecticut. >> say, jim. how are you? >> i am good. how are you. >> great. every time i call i can't help but say thank you for all the good years of teachings. they have netted me a lot of money and a lot of wisdom. >> thank you. a good way to end the week with some nice comments i can tell my wife when i get home. what is going on. >> i'm in my 70s and i just hold 4 to 6 stocks at one time. one of them i treated as you treat apple. the stock is mcdonald's. since the late 80s i have been buying. i did this because the stock was so iconic every time it was broken somebody would swoop in and fix it not to mention the
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great dividends and the splits over the years made it very compelling. two summers ago i started selling it off. i sold 400 shares because it has not been progressing like it was in the past. i still hold 300 shares. my thought is i should sell and start buying chipotle maybe. >> let me give you two views. one is you are right. mcdonald's is not doing what i thought. they charge too much. they have it rolled back prices. they have unruly franchisees that don't want to go with them and they don't come on air to tell us what is going on. that's not acceptable to me. secondly, i think chipotle is great. they have a good split coming up. it's concerning that they still believe that they made stuff smaller. they came on the show and said they did not make it smaller. i think there's going to be a lot of stock coming from that split and you want to wait. when it comes down to these
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stocks reported this week i'm leaning towards campbell's. the entire space is intriguing. do you think there's going to be a slowdown? i'm seeing if forward air and great lakes dredging are worth putting your money in and i will give you my take on wall street. after a stronger than expected jobs report and we will have a rapidfire addition of the lightning round. ♪♪ sandals jamaica sale is now on!
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after last month's massive solar flare added a 25th hour to the day, businesses are wondering "what should we do with it?" i'm thinking company wide power nap. [ employees snoring ] anything can change the world of work. from hr to payroll, adp designs for the next anything.
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every time you call about a stock that i don't know, i promise to take a look at it and circle back.
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i have two tonnage companies that are barely large enough to mention on-air. i need you to understand that anything this small is inherently very risky especially in the past year were small caps have been insanely volatile. when you speculate on tiny companies you should only lose -- spend money you can afford to lose because it's entirely possible to lose everything. this is speculation friday. let me walk you through. the first is a little better than the second. great lakes dredge and dock, i was asked about on tuesday. i was stumped. it is a leading provider of dredging services in the united states but mostly operates off the coast. a third of the business comes from capital projects. think expansion, coastal, land reclamation, liquefied natural gas. another third comes from coastal protection. the final comes from maintenance work. you know all of this stuff is
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in play. great lakes is the leader in the dredging market with a 33% market share. this is a company that has been publicly traded for nearly 20 years. it became public at the end of 2006. the stock has not done anything. when you look at the long-term sales and earnings that make sense. there's no sustained growth. they are not even consistently profitable. over the last 10 years they've been profitable only six of them. that is five of the last six years. i kind of like that but here is why i am really interested. the company should benefit from the federal government infrastructure spending, the bipartisan infrastructure bill from 2022 use billions to restore minds. plus the bridge collapse in baltimore. let's call that a wake-up call.
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they have a couple of other tailwinds including the construction of offshore wind projects. i am excited about that. it is not currently an economic power source because it is too expensive. so i think great lakes could be worth it for a trade if not an investment. they touted strong federal support. while talk is cheap they followed it up with a blowout quarter one month ago. we are talking about better than 25% revenue. a monster 24 sent earnings be. this is the second massive one in a row from great lakes. they have a healthy backlog and it came down a tad in the end of the latest quarter but it is still well above the five-year average. the stock did jumped 23% in the single session but it is not that expensive. you know what?
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you've got my blessing. it is only speculative, high risk and probably think of it as a trade not as an investment. who knows what will happen to all of these different projects once the infrastructure spending winds down. this could be there moments were not going to discourage matt in massachusetts or anybody else who wants to get that stock. i was very intrigued and thank you for bringing it to my attention. chris on florida asked about forward air. it is not an airline. is a provider of ground transportation related services. they say it is a trucking company that specializes in taking cargo from airports to final destinations. it became public over three decades ago. it has been a pretty good stock diamond from the low single digits in the 90s to an all- time high of 125 and early 2022. after some sideways action the
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stock was still at $120 as recently as last summer. over the past year, shares have just collapsed. falling about 90%. by the way, the trough was just two weeks ago. why the meltdown? they had a disastrous deal last august. it was hated the minute was announced. it added a lot of debt to the balance sheet. everything else aside they were doubling down on another logistics company in the middle of a freight recession. we had a few months and then they were suing each other. they wanted to get out of the deal even though they eventually went through at a lower price. how bad was it? the acquisition valued on the logistics at $2.1 billion. this is the company they purchased. the combined entity barely above a half $1 billion.
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talk about destruction. in the wake of a horribly conceived and executed transaction that then ceos step down and the cfo was forced out three weeks later. the stocks have been bouncing the last couple weeks climbing. first, they caught a very smart upgrade by wolf research which took it to underweight to peer perform. they covered the short call siding new management and potentially improving trends. second, we've learned that there is an activist investor that had a nearly 5% stake. according to the wall street journal they want to shake up the future to consider putting the business up for sale. at the same time a private equity firm called clear lake capital has taken a 14% stake. clearly there's a lot of interest in these levels. i can understand wanting to take a stab at this one. it is still not enough of a
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reason to recommend it. it seems like a total crapshoot . the story is just still messy to seem safe. i just don't want to speculate. online, both of these teeny tiny stocks are very risky but i would be willing to put up at on great lakes dredging and dock. i do not want to go near the disaster of forward air.
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the future is not just going to happen. you have to make it. and if you want a successful business, all it takes is an idea, and now becomes the future where you grew a dream into a reality.
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the all new godaddy airo. put your business online in minutes with the power of ai. it is time for the lightning round. i take your calls and tell you to buy or cell and then we
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play the sound and lightning round is over. are you ready? we have read in florida. >> mr. cramer, how are you? >> i am good. what is shaking with you? >> about four years ago i heard you say that you named your dog nvidia. i thought you must be pretty darn impressed with this company that you named her dog after it so i started buying in the beginning of 23 until i accumulated about 300 shares. god bless you you and your dog. >> you are very kind. i've got to tell you. i did not mean to set it. his name was everest and he was not answering me but i called him nvidia and he became a genius. thank you so much. it's been a long weekend when i
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hear a call like that i get energized and i'm ready for monday. how can i help you. >> i just recently started a position on kicker symbol slb. >> here is the deal with slb. they have too much business that is not acting well. i'm not going to recommend it even though i like the company. let's go to moe in new york. >> thank you for taking my call. i was curious to hear what you think about blackberry. >> there is nothing there. go with t-mobile if you want to go in that world. let's go to jim in california. >> thank you for taking my call. >> of course. >> this company, ticker ast .
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>> i think it's too much. is not doing anything. >> the lightning round is sponsored by charles schwab. op 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. (office chatter) is it me...or is work not working? at least, not the way it could work. your people are buried in busy work. and you might be thinking... can ai make it all work? can ai help your people work...
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maybe good news is good news. that's right. we added 272,000 jobs last month. than anyone expected. so when interest rates store -- for that is the kiss of death for stocks but they barely got hit. when that number came out as i tell you what they would say. 90% would have said stocks would be down, maybe huge. especially ahead of the fed meeting. people were looking for rate cuts in the fed but that is off the table in a job market this
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strong. for the next months people will be saying they will cut. it's not going to happen. why didn't the average get crushed? i think it is because the fed has kept us up ready well. we are ready. we know he's not saying anything that he's planning to cut rate. he is basically saying the data is the data. if the data is soft he might do something but if the data is strong don't expect changes. as i indicated he is not trying to figure out how to get the stock market going. that is not a shock. is not trying to figure out how to sell more houses. there are not a lot to sell. he's not trying to put companies out of business. he wants people to get a good job but he also wants to preserve purchasing power because that is what takes the biggest hit. that is what he's most fearful about. i was thinking about it today.
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we really are very myopic. we keep taking that we need rate cuts. on the other hand we can't afford to have rate cuts because that could trigger massive wage inflation. if the fed cuts rates and it comes roaring back that's the end of their credibility. i think powell knows you can't make a judgment on even the possibility of a rate cut until we get at least three week job numbers in a row with little wage growth. after three soft readings there might be some momentum to the downside. otherwise, he risks setting off another inflation spiral. think about it like this. inflation is cancer and high interest rates or chemotherapy. the fed will not cut the chemo until they know the cancer is in remission. that is what we want. the problem that he faces is not the possibility of a hard landing. this economy even with a
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slowing gdp can't seem to stop producing gigantic job growth. as we saw this past few weeks inflation is crushing the working people. the people wall street tends not to think about. when washington was sending out free money that cushioned the damage. not anymore. people decided that dollar stores are too expensive. they decided that five dollar toys are not needed. they can go without the burger, fries, and diet coke from a fast food chain. they are fed up with higher prices. there's a reason only four retailers are doing well. they offer price is almost well below what you can get from any retailer but they are not down enough. almost nobody else is arguing any proposition. inflation eople not economic weakness. until you see the cost of shelter and cars and insurance come down there will be more pain.
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i've said many times the costs will come down unless here's lots of hiring like we saw this morning. those inflation days are not over. they are still very much on. those that want multiple rate cuts just don't get it. i like to say there's always a bull market somewhere. i am joe kramer. see you on monday. "last call" starts now. i am in for brian sullivan tonight. right now on "last call," does he have the votes to mark the final push is on for elon musk's $56 billion pay package. all or nothing. an ai moment loose for apple that could make or break its future. we have got a special preview on that one. plus, dodging driverless cars. a must-see investigation reveals a growing threat around schools. all of that and more over the next hour. belly up and buc

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