>> robinhood. volatility. >> is that a new jacket? >> it is a new jacket. >> great color. raytheon, defense stocks are actually defensive and offensive. >> lori, thank you for being here on a night like tonight. thank you for watching "fast money." "mad money" with jim cramer starts right now. here. "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 invest offers. there's always a bull market somewhere, i promise to help you find it. "mad money" starts now. hey, i'm cramer. welcome to "mad money," welcome to cramerica. i'm just trying to save you money. my job is not just to explain, but to teach and, of course, entertain. so call me. i know days like today make you want to cry yourself to

sleep, but you know what? this is an incredibly nasty sell off, but exactly what you would expect in the rate cycle, the point where the fed is about to start cutting rates to bolster the economy, but the economy is going down. that means we'll use cramer's sell-off book. take advantage of it, not walk away. we're looking for the worst days in more than three years, including today's 3.4 -- the dow -- that plunged 1,034. s&p plummeting 3%. all of this is enough to get you thinking, why should i stay in this market? yet, history says that's exactly what you have to do. what is the playbook here? first, you need to figure out what's going wrong, starting with the epicenter of the damage. find of epicenter. in this case, it's not here. the sell-off started in japan

with the nikkei down less than 12%, a horrendous decline. people got caught with their pants down. they made worldwide bets, so they got crushed worldwide, including here and couldn't come up with enough capital to satisfy the margins. we don't know when they're going to be finished, so it's so heart to call a boom. it it cannot rebound until we know the sellers are done under winding the game. second, you have to analyze what people think is wrong, because it's important to know what they are blaming. i call pin the tail on the sell-off. money manager set acting on mistaken information, but

there's a lot of capital. there are three reasons. they think the fed skewed up so bad that they should have cut rates hard. these sellers consumers on the ropes and employment has slowed. i don't think a quarter point would have matter. if things get truly ugly, guess what? jay powell will cut rates. he's a living, breathing fed chief, who has horse sense. b, in the way of tech earnings, there's a widespread belief -- i think this one is already overv overvalued meta deserves credit in fact, apple has been -- sure,

i know amazon, okay, okay. all wide -- now, maybe amazon is wrong, but i trust them, i trust their reasoning. also, i'm not giving up on nvidia. they can't defend themselves, they're in a quiet period. my information is nothing has really changed. still, the rumors are swirling. the end of august is a mighty long time to -- do not be aggressive. it is coming down.

he just sold his virtues, and did something change? we don't know. it is freaking people out that the guy is dumping half of his position. you know, it did caused a wholesale dumping of the mag stock itself. it has a tremendous runway the rest of the year. i say for the moment there's no tech safe havens. if you're going to buy, buy slowly, in pyramid styles. i think apple should be owned, not traded. i recognize the stock is way up and many investors want to take profits while they happen. they'll probably -- if you can't take the pain, then get the heck out of it. now. this is what you can -- many

people believe that, you don't have a recession when the economy is creating jobs. to me that means you can actually buy the banks. yes, i know warren buff fit is selling bank of america. that doesn't mean you get rid of the banks. i think there will be more opposition, and this one folded like a cheap suit in the last few days. it could end here with the selling with a high yield, it's worth a try. if you have stocks that yield more than 4%, it makes high yielding stocks the best in town. stay tuned. i have some other to buy. make sure you have ample cash in case you want to -- you don't want to sell the good from the bad. we know it's time to put money to work, but we haven't done

anything for the charitable trust that means we have cut you're cash position. not yesterday. it wasn't enough, it wasn't low enough. we don't know what's going on in japan. we have a fear level as mesh are by the vix. we haven't had that since 2020, with the height of the pandemic. i think we need to be ready for more fear. the oscillator went out tonight, that's a start. well, the liquidation continues. i would be, sake, circumspect. i would be -- as a -- not mine where you 2.46. finally, we need to know if there is something we don't see right now. i don't see it in america.

>> harris advisers are real business people. but she does favor higher corporate tax, and nobody is talking about that. i don't see any disruptions in the system, nothing that's systemic. we do have a lot of earnings coming up. uwe should tomorrow morning, airbnb, super micro tomorrow. robinhood on wednesday, eli lilly, they helped customers place web advertising on thursday, that's make or break for google possibly. an antitrust suit today, for google. any of these would be a prism of the recession. if we check every box, we recognize this hideous decline will be more of an opportunity.

and you should put out your shopping list, start looking at your favorite names. we are doing it for the investing club in good time. i should join just when we think the coast is clear. we haven't yet. you only want to buy the stocks you want to buy more of on the way down. otherwise, you will get blown out in disappointment and anger. let's go to regina in florida. >> caller: his, jim, how are you today? >> i'm doing well. how about you? >> caller: my question is intel after last week's report down about 35%. should i sell and reinvest into another stock? >> you should sell intel. they have no credibility. their balance sheet is miserable. could it bounce? , i can't just say it's fine, because i don't believe it is fine. let's go to joe from new

jersey. joe? >> caller: hello, mr. cramer. >> joe. >> caller: i want to let you know, island beach state park has been pretty good, catching a lot of fluke keepers. >> the fluke irbiting, okay? i caught one the other day, and my wife said you can't hurt a fish. i mean, if she would can them, maybe i could catch something. what's going on? >> caller: with scott's miracle-gro at near highs, a nice dividend, is it a buy? >> it's a cease anal product. they had a good season. it yields 3.7. they do have some environmentally friendly stuff these days. i say it's too high. it still at 20 times earnings, i would say pass. let's go to thomas in georgia. thomas? >> caller: hey, jim, a big shoutout to you and your entire

team that works the investing club, from the bottom of my heart and top of my statement. >> then we are cranking stuff. we are there to help. let's go to work. >> caller: today in particular. a lot of comfort from you guys. >> oh, thank you. i try hard. >> caller: my question is about u.p.s., a longtime shareholders, and i do trade around that core position. my last sell was back in '22. i haven't wanted to add to it as it came down and down, but now it looks attractive. your old adage, when the facts change, i change my mind. >> right. >> caller: is u.p. says the company it once was. >> it is now i couldn't recommend u.p.s. i said scotts miracle-gro is too high, and sell intel. so i'm part of the group that

things are wrong, not that things are right, but we're going to be patient and get there. instructive criticism of this market is fine. days like today tend to scare people away from the market. we get these days every year. i need you to think of only a buys opportunity, the emphasis on ultimate, but it's too soon, and people will sell. if this market goes up tomorrow, they will sell right into it. anything like daft, your biggest enemies are your fellow shareholders. i'm sharing where their mindset is. the ten-years down below 4%, i'm finding stocks that yield above 4%. hey, speaking of yield, i'm seeing s.k.t. could be the right for your portfolio. i'm very attractive to it. we have the ceo on. so stay with cramer.

okay, team! oh, thank you so much i couldn't have done it without you. honestly, i don't do a whole lot here. i'm really just here for the at&t internet, 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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get the fastest connection to paris with xfinity. these are people just like you. we're talking about your shareholders. let me tell you what they're thinking. about how the fed's asleep at the wheel. so this whole sell-off is on his a ants. we have no idea whatsoever, and we have no idea that buff at the time thinking they're two high.

he doesn't work for you, and he isn't going to say wee -- but the biggest problem simp, it's the dow is up -- that's really high. those are the stats that, the small cap index then it turns on you -- if you -- easier to get into than get out. i totally get that.

it's a production problem. if you're up 103% on the stock, don't panic. you can dump it easily. they're assuring that new chip -- nvidia is expensive, but it will prove by cheaper later. we just don't know when that is. dell technologies had an amazing quarter, a buying opportunity in when you check the year-to-date performance, it's still up. you have a legion of shareholders that easily will take prove, so it's down this has had an amazing year.

your shareholders are simply being prudent. they don't need much excuse to jettison some shares, and this market won't buy a real buyer until they work through the sales and finally exit the building. energy coming up, four by four for you. stick with cramer.

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tony, its gone. no. how am i going to do this? welcome to the mdy mid-cap cup, presented by state street global advisors. today's challenge is to play 9 holes without the middle of your bag. how does that sound? that sounds terrible. ♪♪ ♪♪ ♪♪ ♪♪

♪ after another hideous day, i don't want to add to the hysteria, especially when i think many of the fears that knocked us down will turn out to be overblown, though there's no denying the averages are still very high, and you know they started in japan, not the u.s. i don't like to scare. i like to be constructive. my job is to help you look for opportunities. the stock market gets yield when bond yields plummet, a sign of weakness, but the yield on a ten-year treasury fell from last tuesday, that's a rocket fuel decline. you know what happens when they shrink? dividend stocks get more attractive. let me highlight some of my high

yielders. they give you a 4% yield or higher, because they have a comparative advantage over bonds. companies can raise their dividends, but yond can't make their yields larger, unless their prices go down. the it's boston problems, a real estate investment trust, that owns top-notch properties in the big cities. and unlike many other stock exchange with high yields, this one has a good story. the office reits have already started recovering. the exp is doing well in new york, washington, d.c. and boston. the numbers have rebounded substantially, as center business districts across america have almost gotten back to normal. high-end properties are doing better, troo. i recommended this one right after the volatility.

they're getting the stock at a $5 discount from where it was trading. so let's go with bristol-myers squibb. it used to be the poster child for consistent performance, but let's just say the reputation has tarnished. they fell behind, a $74 billion acquisition of celgene has been disappointing, as i predicted. for the first time in a decade bristol-myers even saw some shrinkage last year, hence the stock has been nearly cut in half over the past year and a half. now bristol-myers is under new management, and i have to say i like what i have seen so far. i like it. late last year, bristol-myers made three separate acquisition in oncology and the tough nut to crack, neuroscience. i think it's right to double

down. they also announced major cost cuts, more importantly giving investors what the timeline will look like. he thinking he can get the business with a sustain appear top-line growth against as soon as 2028. i know, that's a long time. that keeps expectations in check. ten days ago the company reported a clean top and bottom-line beat. even this bristol-myers raised the full-year forecast by 30%. i didn't see that coming. it is encouraging. we can look forward to the future as they rebuild. again, there's a different which suddenly is more enticing now that treasury yields have come down.

what else? the group still hasn't fully recovered from, a number of these have pretty high yields. the columbus, ohio based honeywell, we just checked in with the ceo last week. i think they already turned in a strong quarter earlier. huntington has rivals regional bank, bus the ceo explained now that we're on the verge of a rate-cutting cycle, his bank is poised to do even better. they rallied in july, thank to the rotation of companies that benefit from rate cuts, but over the first three trading session in august, this is crazy we know the panic is for all the banks. i think you should grab it.

buy the dip in chevron. a lot of people hated that quarter, stocks fell nearly 3%, but oil prices have rolled over the past three sessions, chevron has lost nearly 10% of its value. lowest levels since january, and i think it takes into account the collapse in oil prices the last few days, one of top integrated oil giants at an attractive price. they're buying hess, but the deal has been helped up by exxon mobil. frankly i'm not sure how that's going to turn out. i don't know if i care at this point. i like the symptom. chevron is still confident it can make that deal fly. much better, much safer. at the end of the day, this is

about buying into one of the most high-quality energy franchises on the planet, and you're getting it at a very good price. now, it's get hit again, due to worries about the global economy, friday, the results were less than ideal. to me, it's all noise. as i see it, a good opportunity for longer-term investors, so here's the bottom line, part of my refusal to contribute to the panic, i can't do it. i would rather use these periods as buying opportunities to upgrade your portfolio, especially stocks with high yields. exp, and chevron and puntington, and the insurance policy against jay powell failing to act. i'm going to sebastian in pennsylvania. sebastian?

>> caller: his. i had a question regarding general motors. i bought it right before the earnings report, and it immediately tanked after the report, i sold at 47. is now a good time to get back into it? >> the stock is still um. i'm questioning any stock up for the year. it does sell four times earnings. if i wanted to buy gm, i would start here, but in a recession, there would be some yahoo analyst that will downgrade it. why not wait a day or two and see, and it goes down, and then you buy. tony in florida. >> caller: thank you for taking the time and letting us get through the market the way it's going. thank you for the extra time. >> that's our goal. we still put -- we think or

stocks are coming down. we're in no hurry, we're patient, but we are going to make some money when the smoke cleans. how can i help, tony? >> caller: this company changed my life. i started buying at 860, and it's a 50% of my portfolio. should i buy more, hold it or -- >> you're going to have to wait. here's why. it's viewed as being a -- i know this sounds strange, it's up a great deal. people think it's too expensive, but the chart is bad. when that happens we walk away. thank you for your confidence. i really appreciate it. jake in new york. jake? >> caller: boo ya, jimmy. i wanted to ask you about a growth stock with a shrinking market cap. they work with clear secure, to refresh their debt.

they're number four in the industry, but number one in your wallet. i'm talking about american express. >> i like it. so here's the way i would approach it. when you get a stock that's up in dollar amount like that, let's say you want to buy 100 shares, nice level down from 256 where it hit, and then you wait another five, and then another five. that's how you buy it. the dollar price stock is encouraging people to just blow it out, which is stupid as wood. listen to me, i would rather use this is periods as opportunities to find good higher-iling stocks where if they go down, you can buy more. they can be great bets here, no matter what jay powell does, and then i think they're all dynamite. my exclusive with another good viewer, tanker. maybe it's the type of thing you should be looking at after

markets, and weyerhaeuser, i'm circling back to the best of breed player with the ceo to get the latest on where the story stands. and then, of course, all your calls, rapid fires and tonight's edition of "the lightning round."

when bond yields come down, boy, they're coming down fast right now. normally that's fabulous for high yielding dividend stocks,

but people are so panicked, it makes no sense to me. take tanker. factory outlet centers, where consumers go for great bargains. do not take it from me. let's go to the ceo of tanker. welcome to "mad money." >> thanks for having me back. >> i was talking to david faber this morning, an said, we have somebody you got to listen to, because it's contra to what everybody has been selling. >> we've been in business for 43 years. we've weathered a lot of cycle, but the customer continues to vote for tanker with their wallet. >> if you have a so-called strapped consumer, that doesn't mean the consumer stops. it just change the venue of where they go.

>> that's right. you know, the consumer has so much choice now in the marketplace, where it's shop from home, or shop in stores, shop on the streets, shop locally. for us, the shop centers, we bring value every day, on sale every day, with your favorite brands. in fact, i was at one of our centers today, with a pair of nikes, great, unbelievable deal, and nike is coming back. their business is really good with our business. >> that's important. you would see that first. you need to have the inventory cleared. >> first of all, the stores look great with a lot of product. they're gearing up for back to school. it starts in different parts of the country at different times. >> when you would expect with a rate cycle, you would see a lot

of bankruptcies in reality, there really haven't been any. >> there were a couple bankruptcies in our space. when i said in meetings past, typically the last stores, the retailers close, they're once that are built. as far as the two bankruptcy, we retained almost all of those stores. >> i was looking at the math today, and very excited about the bills, about asheville, but still you have a huge canvas of this country to put more places, don't you? >> there's plenty of opportunity for us. we're out there looking every day. look, what we do outlet, shopping centers, but we've also added other uses, better amenities, better food and beverage offering, better entertainment. it's almost ago if they're not only geared to the tourist, but also that local customer. we want them to come every day. since i met with you last, we

added five sephora stores to our portfolio. that's a customer -- that's a story that customers shop far more frequently than some of the other brands. >> th>> there's a number of partners out there that are admiring what we do from an operations point of view. tanker traditionally an outlet economy, but in order to survive in this market and be competitive and get people off the couch into your shopping centers, there's other things you need to do. >> and your stores are not really -- you could have ten different companies go out of business, and it wouldn't necessarily impact you, because

you're so spread out. no one has a big percentage. >> also what is happening now is there's not a lot of new product being added. lack of product causes demand. demand causes a lot of our retailers to renew, and we're seeing record renewal rates, but a lot of new retailers coming into the space. do we knee new the tenants in place or replace them with tenants that will be great britain new business, and bring consumers. and we're constantly thinking how do we flow freshness into our centers, and how can we continue to grow our revenue. >> there are places that have always regarded themselves as premium, who now want to be in your place. >> well, you know, there's a lot of the fashion brands, for example. vince and rag & bone, and brands

like lululemon, tory burch. these madison avenue, yesterday there's a consumer they get to see in the outlets they don't get to interact with in any other venues. this is an opportunity to trade them up in the store. they become a customer of yours, you own that customer, you get to pick how you want to communicate with that customer, whether you join the loyalty program, and that brand has an tuned to trade you through their ecosystem and gets you to buy more frequently. >> you're exactly the kind of ceo and exactly the kind of company that we need to hear from on a day like today where people are very nervous. nervous can translate into big sales for companies like your. the ceo of tanker, a company we have endorsed for all of 20

years at "mad money." we'll be right back. >> thanks. >> announcer: coming up, pop open those umbrellas and tee up your questions. the lightning round is next. (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... without all the workarounds? feel better. make customer service work the way customers expect? that one. make your old tech work with your new tech? thank you. and todd here is wondering, can ai do all that... now?

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degree doesn't have to mean starting from scratch. here you can earn up to 90 undergraduate credits for relevant experience. what will your next success be? it is time for the lightning round. buy buy buy or sell sell sell, and then the sound -- and then the lightning round is over. are you ready, skee-daddy? let's go to joseph.

>> caller: hey, jim, how are you? >> i'm just feeling bad for everybody out there trying to figure out what to do. how can i help you? >> caller: it's been a bloodbath today, for sure. i have a question about boeing. i wanted some insight. boeing for a long-term valuation based off of their faulty parts. i wanted to see what type of strength they have for the long term. >> okay. i think they have long-term staying power. and let's wait until it's clarified, so le ate be careful. jordan in new york. >> caller: thanks for taking my call. my father is a huge fan, how he's got me watching. i wanted to know, ftx.

>> it's a tough one. there's a lot of people that feel that copper is in a super cycle. i wouldn't touch this stock until it breaks through to $38. david? >> caller: my stock is delta air lines. >> i'm troubled by delta, even though it sells at six times earnings. i would look at other airlines if you have to. alex in massachusetts. >> caller: hey everybody jim, how are you? >> i'm good. how about you, alex? >> caller: good. crazy day today. >> it really was . >> caller: your thoughts on synopsis. >> it's going to trade with nvidia. i don't know what else to say except that a certain level nvidia can be bought. we'll have to wait and see. how about robert in massachusetts? >> caller: hey, jim.

happy monday. i'm reaching out about philip morris? >> i don't recommend tobacco stocks, never have, and never will. that's the conclusion of "the lightning round." >> announcer: the lightning round is sponsored by -- coming up, panic isn't a strategy. cramer has your back and some can't-miss perspective.

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as the market has melted

down the last few trading days, these are the worth three-day declines since june of 2022. that's weyerhaeuser, it makes perfect sense. it's all about a weaker economy. that weakness will force the fed to cut rates. let's take a closer look with the president and ceo to learn more. welcome back to "mad money." >> hey, jim. good to be with you. >> thank you, devin. i know that some businesses are -- we can talk about solar, sequestration, but when it comes to the business, it seems like you're still selling timber. that you're kind of stuck in neutral. >> we still have a bullish look,

we are massively underbuilt in the u.s. ultimately we'll have to build millions and millions of homes. but, as you say, it has been a bit tougher environment here of late, with the higher interest rates, and we've seen that play into the mostly the multi-family repair markets. a lot of people say, isn't it all shelter? >> so that's a bigger market for us, but multi-family plays into this as well. so, we have seen that tick down just a bit t.

that's played in. >> well, do you think that, like the stock market seems to be saying the last few days it's not doing that well, we don't have a great retail environment, or do it right? i think from a hows standpoint, one of the challenges we face, there's a lot of demand for housing. the big -- but that's really had a negative impact. the big public builders, they have navigated it fairly well. the overall housing market needs the supply. ultimately that's the solution to bring prices down over time. we are hoping that obviously

even just the last few days, we have seen the ten-year come down. so, i think as you see that come down, that's a catalyst for more housing activity. i think people are a little, i would say, confused about how you return it, because they maybe want more different, but give us the current mosaic on how you're returning capital. >> we have committed to return between 75 and 80% back to shareholders. we have a sustainable base different that we grow every year, including earlier this year, and then with the remaining amount, we can pivot between supplement at dividending or share repurchase, depending on that particular

moment. that gives us a lot of flexibility. we have return nearly $5 billion back to shareholders. it's a flexible framework, it allowing us to do it in a way that creates the most valuable at any particular moment. now we talked about how it takes a little longer, but they've been a good business for you. >> yeah, absolutely. these are part of our natural climate solution bills. it's really about leverages the strength of our land portfolio, and so that's carbon capture, storage, forest renewable, that's wind mitigation, there's a lot of things you can do with nearly 11 million acres of timberlands across the u.s.

we think there's up side. beyond that, this is an exciting area for our business, something we expect to continue to grow. >> people should know you've been probably the company most dedicated to cleaning up the air. you planted and you built and you bought. do you think you're the number one defender of climate in this country? we've certainly been focused on this for a long time. sustainable forestry goes back nearly 100 years. there's nothing to take co 26789 out of air than forests. we're focused on that resource to mitigate climate change. i don't know if it's necessarily always fully appreciated, but. i think beyond just the impact that it has on climate generally, there's a healthy

business opportunity as well. >> i thought we ought to mention that, everyone is bemoaning the money they lost, but also about the longer term. thank you devin. i always like to say there's a bull market somewhere. i promise to try to find it here. see you devin. i'd like to say there's always an open market somewhere, trying to find it just for you on "mad money." i'm jim cramer. cnbc special report with brian sullivan starts now. stocks in free fall. >> as fears about the economy take center stage and the scorecard today looks like this. >> another major market selloff to start the week after friday's massive drop. the s&p and nasdaq losing 3%, a 1,000-point drop for the dow, down 2.6%. we're here tonight to report on