that that's what you are. >> wash your laundry in cold wetw water. met fans, i'm sorry. i think you buy pinterest here. >> thank you for watching "fast." we'll see you back here tomorrow at 5:00. "mad money" withimrar ar rhtow.j cme my mission is simple, to make you money. i'm here to level the playing field for all investors. there is always a market somewhere. i will help you find it. mad money starts now. >> hey, i am cramer. i'm just trying to make you a little money. i want to explain crazy days like today. this market has become a real

simple, stocks that benefited from a rate cuts get sold. they lost 5% and the nasdaq tumbled 1.2%. not a lot of beneficiaries there. when you think about who wins and who doesn't when the fed starts cutting interest rates. it might come as early as september. for many of you, there is a lot of rate cut inners out there. mcdonald's rallied on weaker numbers. things have gotten so weak that people are avoiding fast food until the prices come down. that is why they rolled out the five dollar meal. they don't care that they are doing badly. they treat as a rate cut winner. certainly more than we ever thought.

stanley, black & decker. they are trying to cut costs. now investors are dreaming. stanley and black & decker are leaning towards turnover. when the fed starts cutting, more interesting home sales and more remodeling. the banks work too. they need to start making loans again and they need economic activity instead of how much they make on your deposits. they push the banks hard today and she recognize that this is where banks can really shine. we will be talking to one of these very banks. huntington bank out of columbus, ohio. 19% for the year.

we are seeing the aerospace stock score. stocks like how i met your mother. a nickname for helmet aerospace. with rtx and how met are going higher. it is cyclical. they help travelers too. the same thing is going on for the rest of the industrials. that is why that group is doing terrifically. you know why? that is all fabulous. right? this stock market is not built on rate cut winners. for years now, rallying on the

strength of companies that don't need to borrow money and don't need rate cuts. they will not see much of a boost when they get rate cuts. like tech stocks. they are very strong businesses with very bad stocks for now. stating the obvious of what we have the top seven out. nvidia and tesla. we love, rates did not matter to them. such strong businesses. the ultimate secular growers. that is why they did not get banged up by the reit hugs -- hikes. the companies will be doing that. the stocks, very different stories. they will keep losing until the shares come down to look cheap versus the winners that are rallying now as part of the broadening.

that is some distance from here. like tonight with microsoft, they come out of the woodwork and blast the darn thing. it's incredible. people don't even know what it's doing and they sell it. the word is three words that my staff loves to be able to say. those three words are dead out now which is a reference to something that i did if you read confessions of a street addict. consider the case of nvidia which is doing amazing things with generative artificial intelligence. those are the two biggest trends of our day. their own cycles with their own rules. they have nothing to do with the fed. that is something we love them for. not anymore. that is how nvidia stock has become a wasteland. it is gunfire.

every day. then they ring a bell. and it can stop going down. it is down 35 points. i don't see it stopping here. not because the business is deteriorating, they are selling amazingly well. they do not benefit from rate cuts. the money you get back from selling company shares is being redeployed to the rate cut beneficiaries. it's about the stock and not the company. stock is getting cheaper as it goes down. they earned $3.59 per share this year. those estimates are probably way too low. maybe if they could've earned $4.59 per share. they are selling a 23 times. i am not sharing the greatest dog at 23 times earning. i would take some pain and men

-- then it is not going down because skeptics feel that there is no good return. because wall street has been less willing to pay for gross stocks. investors would rather chase cheaper stocks from lower interest rates. they fall out of love with gross stocks and they would do much better in the economy. much better with the rate cut beneficiaries than they would be. at some point, start get so cheap that on the earnings basis, can you believe it, the selling will stop. mehta, microsoft, apple, all having multiple contractions. stanley and black & decker are experiencing expansion. glorious. cap stocks are winning here, there is a big shared given to

them. what's really happening is that institutions are not doing anything different than they usually do. they sell the stocks i don't need the fed and then they put up the huge year-over-year earnings growth. there stocks that are bits and . procter & gamble missed the mark today. i will go over losers later in the show. there is something with the multiple contractions. we don't know when that will stop either. it is a really bad stock. you can dump the great gross stocks that have done so well. when it comes to a.i. or computing, you will seldom and feel instant relief. never forget that you are selling winners, bona fide winners for stocks that were losers two weeks ago. it is indeed a longer-term

amongst them. with multi-year staying power or the ability to stay out all day all night. many amazing winners this year. we can bask in the wind but we can't because we own so much of the menu. we must ask ourselves, are you better off now than you were with secular growers? here is the bottom line? you are not better off. waiting for the calvary that never came and has income. unless you think that about nvidia you will come out ahead before we discount the rate cuts that are ahead. there could be plenty more pain than we have had with the gray broadening as it unfolds. let's go to wayne in california. >> boo yah jim. you are the man. thank you for helping so many

families across this amazing country. >> thank you. you don't feel like you are helping people when you see microsoft drop. when i speak to wayne in california, maybe i'm not a total dope, how can i help? >> why has uber dropped in the last two weeks? what will happen in q2? >> uber is trading as a function of a multiple contraction. people are willing to pay less for the losses that they might have. you have to hold your nose if you think will be great gross down the road. take a look at the way that airbnb looks at the declines. you need to stick with it. nothing to do with the business. let's go to georgie in pennsylvania. georgie. >> hi, jim. i've been a member of your club since the recession.

i cannot help you enough. >> we are trying so hard. i really appreciate it. we do it because of you. not because we are really great. were just trying to help. >> you are growing my investments. >> i should've felt that years ago. there's a lot of things i like in my life. it's because of you, jordan. i just like helping people. >> thank you for what you do. i have an important question ask you, jim, when i retired i started three custodial accounts for my three grandchildren that are now 16 and 15 and 13. with the intent that when they graduate from college they will have an asset. i transferred all the years that i worked, i held onto

disney. it was $31.31. i transferred 100 shares into each of their accounts. as you know, the data transfer to reflected differently. they are reviewing their accounts with me which i love. here's the thing. i know that hopefulness is not a strategy. i want to believe in disney. i am perplexed about whether to let that lay in there or cash it in for what will look like a law so that they don't have to pay taxes or invested in something else. >> here is the way that i have to think about this. i don't care about taxes. here's what you need to know. disney traded up to 120. i think it can get there ultimately. i was totally right and so was nelson. i'm tired of hearing about the bellyaching from the company. the company screwed up. it has to do better.

he will be on the firing law and there is nothing wrong with that. if we are talking about the eagles, do you think i would be happy? my trust owns some disney but not the eagles. do not get swept up in fed rate cut maneuvers. remember what stocks are winners in this market. the market is showing signs of life. if we want to take a close look, it is called concentra. copper is melting down. they thought it would be a supercycle. what is the commodities price for stocks? i'm going off the charts, find out. what huntington bank had to say about potential rate cuts when i sit down with the ceo. thank you so much for saying such good things. it was a very trying day. stay with cramer. >> don't miss a second of mad

money, followed jim cramer on x. send him an email or give us a call at 1-800-743-cnbc. if you missed something, go to back mad money at cnbc.com. it's super-fast so, any pre-launch concerns? what if nobody buys them? that's mean or, what if everybody buys them? oh, i hadn't thought of that that's probably not gonna happen can we handle that kind of traffic? the network can handle it! i downloaded eight hours of true crime stories just during our last video call i'm learning a lot

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coming in tight on the line. team usa, what a run! it's gold for team usa. noah lyles with another gold medal. in case there was any doubt, who was the breakout star of these world championships. last week was a huge one for ipos. there are three other big ones including one that might be worth owning. i'm talking about a company called concentra. just sold off by its parent company and began trading independently last thursday. this caught my eye. we have a bull market in

healthcare providers. all reporting amazing numbers, i would not be surprised if concentra is doing just as well. they love it when big companies break off to smaller to own businesses. let me walk you through this one. there are 547 occupational health seekers. across 41 states with 151 on- site clinics. and a telemedicine program. they handle workers compensation and do drug and alcohol testing for employers and physical exams and preventative care. they do consumer health services. they can provide urgent care treatment and two thirds of the revenue came from worker's comp. last year. reliable business for the most part. customers are employers not the

actual patients that they serve. partnering with every single of the fortune 595 present. they seem pretty good at what they do which is getting injured or sick people back to work as quickly as possible. half 1 million workers compensation claims, concentra had 10% lower costs. i don't know how they pull this one off. the customers and employers appreciate the savings. even though the workers might feel differently. a niche healthcare provider. something extra important. we have the aging workforce that is more likely to get sick. if you like the occupational health space, you have to like concentra, the largest player in the industry.

they take market share and go into adjacent areas. i like that the stock has not run away from us yet. a price wage of $26. the stock traded below that level. no hype for this thing whatsoever. they plan to distribute their own shareholders. the big impediment to getting excited about a stock. when you look at the numbers, there is a lot to hope for. it's profitability has been terrific. last week's ipo select medical was sharing new shares and they did not have their own own existing position. they plan to distribute the

shares to investors at one unspecified point in the future. we don't know. ipo raised 529 million dollars. at the same time, they took on new debt of the bone. it is 3.9 for a reliable healthcare company. should you step in to buy shares after a tepid debut? i like the fundamental story, no denying that. a very tight labor market. remember, the customers are the employees. they are trying to keep everyone healthy. it spaces less regulatory than

the overall health industry. it does not help that they are the best in class at what they do. you should wait a bit. with this thing at $22, i think that transit can earn one dollar per share this year. the three big hospitals sell from 14-16 times this year's estimates. this year's numbers, i should say. think about that, dramatically cheaper. the former parent is 18.6 times per share. it is still select med. it is a $19 stock.

i like that level. down more than three dollars. you can get that price as long as you are patient. select medical owns 80% of concentra. they will hand it over before the end of the year. select medical shareholders will dump their consent. this can push that thing down quite a bit. that can be your buying opportunity. intriguing story? bottom line, this has spun off the health services, this is worth putting on your shopping list. hold off on the stock until they trade the remaining stock in the business. it falls below $20 and that is when you can do some buying. mad money is back after the break. coming up, is there a summer swoon for the market? going off the charts for a

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(♪♪) (♪♪) sandals rhythm and blues caribbean sale is now on. visit sandals.com or call 1-800-sandals. we need to talk about copper. for the last few months, it has been down. the coppers supercycle. industrial metals is a pretty simple game. you need copper for construction in this economy.

we are going off the charts. the author of higher probability commodity training. on copper and what it may mean for the stock market. pretty cautious about stocks right now. the top in copper prices and the stock market with a certain amount of lag. the reversal from the all-time high is a sign of destruction. it is textbook for economic growth. that also signals deflation which is a bad thing. giving them away for the fed to cut interest rates is a good thing unless it it's temporary. that takes on a life of its own.

it usually takes 2-6 months before stocks follow suit. it has fallen from five dollars and change to four dollars. it is now $3.80. it is about 100 points from where was trading. this is a serious problem. these things will start showing up in the stock market in the next four months. it should not make you more reluctant to buy. the more that copper falls, the more that the stock market becomes dangerous. copper needs to rebound to make up the difference. the former scenario is more likely than the latter. why? it is far from over and could have a downside.

the traders report down at the bottom. this shows you the major players and positions. more speculators and home gamers and money managers. more than any actual companies i use copper as part of the business. they mostly care about what the large speculators are doing. that is the green light. when you look at the date of these large speculators, there is a net long position. perhaps because they saw the study use of copper in the data center pull out. and electric cars which are copper hubs. even as the price goes down. it is an extremely crowded trade. they will keep liquidating on the way down. this keeps copper well below four dollars. according to the committed

traders report, there is a net long position on top of the copper market and that was two months ago. that position has land to about 59,000 contracts. there was a position of only 8000 contracts. there is a lot more room for gas here. too many people are crowding in on this trade. check out the seasonal pattern of copper prices. how much are trades over the average year. the annual low in eight -- late august or september. before then, it could be in for a serious beating. there is a straightforward story. the floor of sapporo four dollars. you have to take a look and say, it's already cut through here. that likely will not hold, she

says. you'll be $3.80 before will exhaust itself. your biggest worry is that it will crush through here, right? it is the 200 week moving average. for two years prior, that was the ceiling keeping a lid on copper. you can see it was not able to break through that for a long time. now that we are headed back down, that resistance has become a floor of support. that's how it works. there are a lot of traders on the wrong side of the sellout. it will bring out more sellers. with an opportunity to jump ship. this is a broken chart. there is strength indexes. it has been plunging.

that is why we believe that copper will not stop falling until he reaches $3.80. there is the trend line. if you go through this, you will stop right there. there is a quick breakdown to $3.50. then it gets really ugly. look at this, it is just horrible. we have now entered that time window. the stock market peaked six months ago. the stock market found its lows. this is not a one-off pattern. copper has been one of them. they should patiently wait for a better entry point before they start buying stocks progressively. good today like the nasdaq is falling apart. wait for copper before you get too bullish in the first place.

she sees more evidence that the four dollar area is acting as a potential pivot. you can really see what we are talking about. copper is already fallen through the moving average. she thinks that there should be more of a downside. even though it is oversold territory in the daily chart. there are too many bullish copper traders i need to rewind the position. this is where it looks like the big fake out. you can see that it's coming. here's the bottom line. sometimes in the next four months that should start weaving through in the stock market. something worth watching. i would not write off the entire market off this. we have a different set of winners and losers than we are currently experiencing at the very moment. let's go to steve in new jersey. steve. >> hey, jim, how are you doing? >> i'm doing okay, steve, how about you?

>> hanging in there. i want to thank you for all of the instructions and grade investment advice over the years. >> thank you, it has been a tough couple days, i come in every day and speak my partner with the travel trust. darn, how did we screw up on this and screw up on that? when i hear you, gives me faith that i should have solis for this. >> the stock is at 55. i bought it after a strong opinion from you. and then right after that sword followed by a big drop. i wanted to see if you would buy it there. in the interim, it shot right

up again. >> i think i would be a good level. let's do this. we might be in a nasty period here. the stock does well in this environment. i would take a little off the table. this is a heavily cyclical stock. i would not do more than i and i would let the rest run. if the fed starts cutting, you will see upward pressure in the stack of boise cascade. this is a company that my father used to work for. i always respected and i cannot believe how much it has made a come back. thank you for your kind comments. it has gotten more of a downside. thinking he will bleed into the stock market. i'm not so sure about that. this can give us a very different set of winners and losers. do not write off the market entirely. process it in your head.

bank stocks have been incredibly hot. this rotation favoring the mutual banks. i want to see where huntington can fit in with the ceo. and how you can invest around it. all your calls, rapidfire. stay with cramer. (♪♪) sofi is helping me get my money right to achieve my ambitions. plus i'm investing in my game. sofi can help fund all your ambitions. (♪♪) no matter how ambitious. bank with sofi to score a higher apy and an epic welcome bonus.

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in the last few weeks, we have seen some monsters in the regional banks. the worst and the best. one of the best burners in the business.

a stock that is up 15% since july. thanks to the rotation but also because they reported a great quarter two weeks ago. a 52-week high. there is a lot more catch up to do. let's check in with steve, the ceo of huntingdon bancshares. welcome back to mad mad money. i will bounce some pieces off of you. we cared about net interest income. i like banks that lend and banks that grow. are we any rate hikes up. is it what banks really do, being good lenders? >> i do. we are on a rate cycle. banks have come through the rwa diets that many of gone through last year. credit is performing well.

the banking system can be part of the next phase of economic growth. you came on our show multiple times and assured us that you would come out nscathed. i am wondering whether you are like the franchise for one of the great growth areas for this country. the growth franchise. >> we are well-positioned in the midwest and we have expanded into the carolinas and texas. we have a unique franchise with a lot of growth potential. our headquarters city is doing phenomenally well. we are growing deposits very well. we are in a great position to continue to grow and help the economy and our ustomers. newly a lot of banks have been criticized because they have commercial real estate exposures. you did not get caught up in that. how did ou avoid that? >> we put limits in place.

we are disciplined with who we chose to do business with. we have great customers that have taken care of us and their projects throughout the last couple of years in particular. commercial real estate loans to total. 15%. 1.5% of our loans are in office. a very small percent and a high reserve against it. >> one of the great things that i appreciate you doing, i believe in small business. small business is the backbone of the u.s. economy. you have been a champion of small business, how is that working for you in this point of the cycle? >> we do a lot of sba lending and in our footprint and elsewhere. we don't have branches in texas. we have a lot of business generated helping smaller

businesses. in some cases getting started are going to the next stage, it is a very profitable business and well-run. >> with the presidential election you will hear about towns that were left behind. are you seeing any come back personally where businesses are reopening or is small business taking their place? and it is really a pretty good story? there is partnership between business and government that can spur economic development. if you look at youngstown which was hit over the last couple of decades, one of the best incubators in the country. we are financing a lot of that. toledo would be another example. the downtown section of toledo has been revitalized substantially. we have a role to play. other banks do too.

if you get the right private and public collaboration, that can help. >> you have a loyal group of people. in the nashville market, a lot have come out of state. are you having problems with outliers trying to come out and take your deposits. >> we have been around for 160 years. we have multi generational relationships with a lot of customers. we are growing and investing. it is award-winning. we have a lot to offer and we do it with engaging colleagues that do the right thing and

provide great service every day. >> you are called to become a national banker. have a good balance sheet and regulators like you. can you pick off different areas or is that too much to try and get your arms around? >> at the moment in the foreseeable future we are focused on organic growth. there were only a couple of us after the silicon valley debacle a couple years ago. we open the carolinas. specialty banking areas in addition to the core that we are investing in. we have opportunity in front of us with the core. >> they are terrific. maybe money should be going to the regional banks. much less risk. that is what really matters. >> yes, absolutely. >> it surprised people during the downturn which was not a

downturn for you. i want to thank steve, the chairman, and president and ceo of huntingdon bancshares. a breath of fresh air every time you are on, thank you so much. coming up, pop open those umbrellas and t up your questions. taking on new comers in the lightning round. next. >> joined the club and let me teach you the right way to invest. >> join the club with a flash sale offer for a limited time. ♪online security depends on you and me.♪ ♪install updates,♪ ♪make better passwords,♪ ♪think before you click,♪ ♪use multiple factors.♪ ♪that's how we can secure our world!♪

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the lightning round is sponsored by charles schwab, trade brilliantly. >> it is time for the lightning

round. and then the lightning round is on, are you ready? we will start with jorge in california. i always go with the best and that is slb. douglas in california. douglas? >> hey, jim, if it is stuck at 90, do i have a winner in gladstone inc.? >> you actually do. go with this one for the long term, lots of great companies in house that will do well. there was a bad quarter, that was a mistake, they have good stock. tyler in california. tyler? >> tyler from california, how are you doing, jim? >> i'm doing good, how are you? >> good, thank you. the recent trend in the diabetes sector, what is your outlook on the potential for

growth over the next three years? >> i was mystified and terrified. they own habit, it did not go down on the horrible loss. abbott is a better play. let's go to charlie in new york. charlie? >> i have edward -- and it is killing me. >> switch over to boston scientific which delivered a great order. let's go to been in ohio. been? >> thanks for taking my call. what you think about lowe's? >> that is one you should buy right here right now ahead of the rate hike cycle. let's go to darius in virginia. darius? >> hey, jim, my stock is --

aviation. >> go on draftkings and do a parlay. let's go to sandy in california. sandy? >> hi, jim. >> what have you got? >> vai sentimental change and i am curious about your thoughts on marvel. >> two different things, marble the stock is being hurt. marvel the company, matt murphy is doing a perfect job. that is the conclusion of the lightning round. >> the lightning round is sponsored by charles schwab. coming up, is china the weak link to the earnings season? cramer is doing a deep dive into the region, next. ♪♪ go deeper with thinkorswim: our award-wining trading platforms

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if you own stock in a company that has expanded into china, it is being killed right now. i don't see it getting any better. we don't seem to want to acknowledge the seachange. we know there are pernicious forces with the multiple contraction right when the rate cut is about to occur. that is when companies that don't benefit go out of style, think nvidia. we discover that clientele is more on the ropes than we thought. think retail away from costco and walmart and we have companies that make data center that is necessary for a.i. or the electric grid to handle more power-hungry infrastructure. these are for sale but not as dangerous on china's companies that rely on growth. we thought they would be plugged by now but the chinese

consumer's trading down when it comes to the goods that procter & gamble makes. i think they would have made the quarter in the stock would have avoided the nearly 5% selloff. this is a fantastic company. we sold some once and we don't want a hedge fund but we would like to get back and buy that stock but it could be restricted for quite some time. if mark had not run afoul of what looks to be the anticorruption cops, i think the shareholders would have been spared a skewering, although it probably would not be down still because of the rotation. because it does not in a fit from rate cuts. so what is wrong with the companies that do business in the prc? there is a lethal combination of a government that is not like america or american businesses and a populace that is more cash-strapped than at any time this century. that is how estie lauder can include thanks to chinese weakness even as the ceo cannot seem to extricate his company from their clutches.

nike, they are pricing themselves out of china and starbucks sales were down 14%, their second-biggest market. hopefully it is made up by other areas around the globe but china is so complicated. there were so business friendly that they thought it was an say not to go there but the government took advantage of us and since the trump administration we have been fighting them in a trade war. as the commerce secretary made clear last thursday, the relationship between the countries are so strained that we have no choice but to protect taiwan while we build our own boundaries here, something that antagonizes the chinese to no end. maybe they will take some big charges like yesterday when they were down the steak in a chinese brewery, taking a $949 million hit. a tough pill to swallow but heineken owned up to the disaster and they are a dutch company, they're not involved in the cold war but the company say it will get better.

and we are going to get that confidence? i have no idea. if you want another reason that the capitalization stocks are doing well is because for the most part they have nothing to do with china, so nothing to apologize for and nothing to write off, another great reason they can withstand the selling pressure while they await the rate cuts. there is always a bull market somewhere and i promised i would find it for you. i am jim cramer, see you tomorrow. oh! tonight on shark tank. a restaurant empire. >> you have three minutes to escape. >> be a part of our chocolate milk revolution. >> we are looking to build a restaurant empire. >> it is absurd. that is wonderful, i have to be worth like $4 billion. >> there is a hungry window company out there that will take this far. >> i don't think thi