we had a good time they respect what i've done. the united states is respected again. the united states was not respected. everybody was taking advantage of us from jobs, taking our companies, not paying the pricey protection, i told a number of countries over the last few days, i said, listen, you're a very rich country. we protect you without our protection you would have real problems. >> i want to -- >> i said you should reimburse us for this protection why are we protecting you and do you know what they said after about two minutes of talking, they agreed with me and you can ask this group of very talented people they agreed with me. but they said one of them said, but, mr. president, nobody ever asked us for that. they never asked us for that nobody has ever said, you should pay. these are really wealthy

countries. i mean, i'll be honest, i just asked japan. i said we're defending you you're a very wealthy country and sending us millions of car, making a fortune, we have a tremendous trade deficit with you. and we're defending you and we're subsidizing your military with a massive amount of money i said it to south korea we have 32,000 soldiers in south korea, they're very wealthy. very wealthy countries i said, why aren't you reimbursing us for our costs you know what, they looked at me and can't even answer. if they are a poor country and people are going to die, i'm all for protecting them. i don't want ten cents but when wealthy countries that have massive trade surpluses with us, massive and then on top of that we're paying for their military or we're paying for a lot of their military, that doesn't work how about two more -- >> mr. president, really quickly, you said you feel a

kinship with brett kavanaugh and said your false allegations you feel like were made against you made you feel like you don't want to believe the women -- >> i didn't say that >> well cash -- >> i didn't say that >> maybe she'll say something but in the meantime, i have to tell you, he is one of the highest quality human beings he is a tremendous man he's a tremendous genius he is a great intellect, he was i believe number one at yale is that a correct statement, number one in his class at yale. a great student in law you know, i've heard his name. i didn't know him but i heard

his name for ten years and you know how i heard his name, everybody was saying, he should be on the supreme court i said, who is he? his name is brett kavanaugh and he should be -- he's the most brilliant person he is the most brilliant lawyer. they were talking about him on the supreme court ten years ago. with all of that, i want to hear what she has to say. >> but you said you feel like other -- there have been numerous false allegations against you -- >> i've had many -- >> and you understand what he's going through. >> i've had many false statements against me. i think john roberts would tell you that you covered the story where the women were paid to say bad things about me. sean hannity covered it. i will tell you when i saw that on sean hannity, i actually called him believe it or not, i don't speak to him very much but i respect him. i called him i said, this is the biggest story. this is a big, big story he agreed with me. the next day i picked up the

papers, there wasn't one word about it the next day i watched abc news, jon, i watched nbc, i watched cbs, i didn't watch cnn but next time i'm going -- >> are you okay with -- >> i watched everything. there wasn't one story other than fox and it's a big story it's a shame okay enough thank you, thank you, thank you. okay if i give it to "the new york times," mr. president >> good job. >> mr. president, could i ask a question since i am from "the new york times" before this gentleman because you did -- >> since what? >> i'm actually from "the new york times." yameach is my former colleague and we miss her. >> i couldn't blame you. i'll let you do it after he does in honor of a paper i once loved. >> thank you [ laughter ] >> go ahead. >> mr. president, i'm with true news today you met with bibi

netanyahu and brought up a two-state solution can you give us any who are preview of what this great deal -- >> i'd love to make a deal with the israelis and palestinians. you know, my whole life i was told that's the toughest deal and i disagree i think health care is probably tougher, you want to know the truth but it is tough. but we're going to take care of that that's going to get taken care of too my life i've always heard the deal between as you know israel and the palestinian, that's like the toughest deal. every possible thing is tough about that i think we're going to make a deal i think we'll make a deal. so, at one of our many meetings today, i was with bibi netanyahu. a man i have a lot of respect for. has been very nice to me very happy that i did the whole thing with jerusalem and the embassy which, by the way, we're going to open in four months for less than $500,000 and the budget was over a billion

dollars, right so we saved let's say a billion dollars. not so bad and it's open and it's beautiful, by the way jerusalem stone, one of my favorite stones, i will tell you the question, somebody said today, well, this is the first news conference in a long time i said, what do you mean i did like five today. every time i sit i take a lot of questions from people screaming like maniacs in the back of the room meaning reporters and one of the reporters, i won't say it's john roberts that said that but one -- but that's okay don't feel guilty, john. one reporter screaming asked about the one state, two state and i said i think the two state will happen. i think it's in one way more difficult because it's a real estate deal, because you need meets and bounds and carve-out, it's a little tougher deal but another way it works better because you have people governing themselves. >> yes >> so they asked my about that,

i said, well, i think the two state will happen, i think we're going to go down the two-state road and i'm glad i got it out and jared who is so involved he loves israel. he loves israel but he's also going to be very fair with the palestinians and understands it takes two people to be happy two groups of people to be happy. everybody last to be happy and that's why it's so tough because there's been so much hatred and anger for so many years. that's what probably the number one ingredient of toughness is they asked me, i said i think it will a be i two-state. by saying that put it out there and if you ask most of the people in israel they agree with that but nobody wanted to say it it's a big thing to put it out now, the bottom line, if the israelis and the palestinians want one state, that's okay with me this they want two state, that's okay with me

i'm happy if they're happy i'm a facilitator. i want to see if i can get a deal done so that people don't get killed anymore when we had in saudi arabia we had one of the great conferences in history, many of you were there, probably all of you were there, it was one of the most beautiful two day, that and china, two of the most incredible events i've ever seen, sought -- i've never seen anything like it and we had i believe 58 muslim countries, the leaders, the kings, the amirs, the absolute leaders from every -- there was nobody in second place they were the leaders of the whole thing. and unbeknownst to anybody else, people would come up to me individually -- it wasn't a setup. they'd come up to me and say, sir, you can't have peace in the middle east without peace between the israelis and the palestinians i said, why? what difference -- why does that

matter so much they said, it just is impossible to make peace in the middle east unless you have between the israelis -- so i heard that from one, the king of saudi arabia who is a great guy, king salman and somebody else came up and he wasn't told, oh, go up and say it i know where they're coming from and i must have had 12 leaders say it and they just said it and i started to realize that peace between israel and the palestinians for the middle east is a very important thing and we're try very hard to get it. i think probably two state is more likely. but you know what, if they do a single, if they do a double i'm okay with it if they're both happy. if they're both happy i'm okay with either. i think the two state is more likely okay -- "the new york times. >> ah, okay. >> thank you, sir. >> i would have gotten a bad story in the "the new york times" but i will anyway so i guess it doesn't matter.

we'll do you after and call it quit. >> we're kind of thriving, not failing. >> say, thank you, mr. trump >> i think i'll stop short of that >> i wonder how you do -- >> all my life i've had very few stories but some on the front of "the new york times. now i think i average about three or four a day and up to three or four they're all negative no matter what i do you know what, that's okay i still love the paper go ahead >> i wanted to come back to china because i think what you announced today was really important. >> i agree. >> you talk about this friendship you have with xi jinping and essentially what you did is accuse his government in interfering in our internal affairs and doing it to hurt you, the republican party -- >> doing it to help them doing it to help them. >> how can a guy who does that be your friend >> i think that we are able to -- maybe he's not anymore i'll be honest with you. i think we had a very good friendship i think we had a good

relationship we understand each other they are doing studies on donald trump. they're trying to figure it all out because this has never happened to them before. think of it. you've covered very well -- you've never seen this happen. they're having big problems. i don't want them to have problems but they got to make a fair deal just like canada has to make a fair deal. i believe that he and i have a very good chemistry together and i can tell you that about many leaders. i can also tell you a few where i don't feel i'll ever have a chemistry with them. i don't want to and for those people i'll have pompeo, nikki, bolton, jared, i can go -- our general, have our general or if they can't do it, i'll have sarah huckabee do it very good with prime minister abe. very good with president -- what president moon said last night, i know you won't report it but bret baier interviewed him last night and asked him about me

i can't say because you would say i'm too braggadocious but what he said about me last night was and an unbelievable thing. couldn't have happened without president trump but it never would happen without president trump and nobody else could do it i mean you'll take a look but i will tell you, china is very special. very special they're incredible people. it's an incredible country what they've done is unbelievable and it all started with the wto. it was a defective deal and started without the wto and started also by our people that are standing right in this position that are in the oval office another way of saying it allowed them to get away with murder allowed a lot of countries to get away with murder i think we still probably have a very good relationship but you know what, it honor of you, i will tomorrow make a call to him, say, hey, how are you

doing, okay? can i -- >> you don't mind paying billions of dollars a month in tariffs. >> how would you compare the level of interference you see today from the chinese to what russia did in 2016 >> i think it's different. if you look at the "des moines register" they have ads that are made to look like editorials saying about, oh, you got to stop trump you got to stop him. you got to vote against him. my farmers -- these are patriots you know, on a network that doesn't like me very much, which is most of them, but a network that didn't -- doesn't really treat me very good, they interviewed farmers and they got hurt because, you know all of a sudden china stops by. by the way they started buying again, soybeans are going up and things are going up. and we've had very little hurt from what i've done, in fact, the markets have gone up and the

farmers are going to do great but ultimately but they had farmers and these guys are amazing. i love them and they voted for me and they love me. and they said, we don't care if we get hurt. he's doing the right thing and, you know, a lot of people, it's a complex game. a lot of people don't know exactly what it is they don't know how to define tariff they don't know it is really different than a tax although it's getting close, but they know that for the first time in many, many years, they have a president that's fighting for them that's not lettingtheir jobs b taken to other countries that's not allowing the kind of abuse that we -- when you look at what happened as an example with nafta and for years because it was never changed naftas with a defective deal because they had a tax of 17% and nobody from this country knew that and by the time they found out which was about a week

later, nobody went and changed it so you went many years and they never changed it. there was a vat tax that mexico got so we were 17 or 16 points behind before we even started. nafta was a horrible thing so, the farmers and, by the way, the steelworkers, you know, i stopped the dumping, the dumping was horrible and now if they want to dump that's okay but they've got to pay the united states of america 25% on everything they dump. that's okay. but as i told you before, steel is doing phenomenally well but the farmers say this man is fighting for us. no president has ever fought for us before and you have to study what happened over the 15 years -- the farmers have been decimated over a 15-year period. they've been decimated the farmers will come out great. these are great people they're great, great patriots. i think we should finish with that one is that okay okay go ahead let's go

>> fast. >> sure. >> always like to finish with a good one elton john said when you hit that last tune and it's good, don't go back. >> well -- have you ever seen -- they do great. they hit the last one, everyone goes crazy then they go back for an encore, right and they don't hit it. and they leave that wasn't a very good concert, was it let's go. >> i'll ask you one final question -- >> don't me wrong. >> ahead of tomorrow's hearing about the hearing tomorrow you were asked earlier by sky news the message you are sending to the women of the country. what about the message you may be sending to young men. you're a father. what does this moment that we're in, the cultural moment -- >> very big cultural moment. >> what message -- >> it's a very -- you're right i think it's a great question. this is a very big moment for our country. because you have a man who is very outstanding but he has very

strong charges against him probably charges that nobody is going to be able to prove. so, i could have you chosen for a position i could have you or you, anybody, and somebody could say things -- and it's happened to me many times where false statements are made and honestly nobody knows who to believe. i could pick another supreme court judge, justice, i could pick another one, another one, another one. this could go on forever somebody could come and say 30 years ago, 25 years ago, 10 years ago, 5 years ago he did a horrible thing to me he did this, he did that he did that. and honestly it's a very dangerous period in our country. and it's being perpetrated by some very evil people, some of them are democrats, i must say because some of them know that

this is just a game that they're playing. it's a con game. it's at the highest level. we're talking about the united states supreme court this can go on forever i can pick five other people and at a certain point people will say, no, thank you this is the most coveted job probably in the world and, you know what, i would honestly say because i interviewed great people for this job, he's great. but i interviewed other great people for this job. i could conceivably imagine going to one of them and saying, it's too bad, what happened to this wonderful man, but i'm going to choose you number two i want you to go and i could conceivably be turned down by somebody that desperately wanted this job two months ago. >> with respect, sir -- >> this is beyond supreme court. >> right >> there's nothing beyond

supreme court. this is beyond supreme court this is everything to do with our country. when you are guilty until proven innocent it's just not surprised to be that way always i heard you're innocent until proven guilty. i've heard this for so long and it's such a beautiful phrase in this case you're guilty until proven innocent. i think that is a very, very dangerous standard for our country. with that being said, i look forward to what she has to say i also look very forward to what judge kavanaugh has to say i think it's going to be a very, very important day in the history of our country i want to thank you all -- >> sir, the message to young men, young teenage men, nothing to say, sir? >> please, ladies and gentlemen, remain -- >> we've been listening to president trump in a ware and

wide-ranging press conference on the sidelines of the u.n. general assembly taking place at the palace hotel in new york city among the topics squarely in our wheelhouse at cnbc he did address trade and the issue of tariffs saying they have no impact on our economy which he said it wouldn't he also said he rejected a one-on-one meeting with justin trudeau today and said he would call president xi jinping tomorrow and what they'll talk about presumably is the ongoing trade negotiations or trade negotiations china has call off. he also addressed a -- the big story of the day until the press conference came along, the federal reserve today raising interest rates by a quarter of a point and the president addressing this today saying, i am not happy about it because it's a question -- not happy about that referring to the increase in interest rates he did say, though, that one silver lining is, of course, that savers will be earning more on their deposits. to eamon javers who actually is

there in the room with the president and also managed to ask a question specifically about china meddling in the election but, eamon, of course, this was a wide-ranging press conference and no surprise the issue of the hearings tomorrow and brett kavanaugh dominated the conversation >> this was a confident president trump doubling down, tripling down on brett kavanaugh saying ultimately he was asked at the end of the press conference there what is the message he's sending to the young men of this country and what he said implicitly was this is a dangerous moment in the american culture because you can be accused of something even if you're not guilty of that. he said when you're guilty until proven innocent that's not the way it's supposed to be in this country. so the president very much falling on the side of brett kavanaugh here relating his own experiences of being accused of sexual harassment over the years several times to what brett kavanaugh is going through here. but also leaving a little bit of an out saying that he wanted to

watch dr. ford tomorrow testifying on capitol hill he wanted to hear what she had to say before he made up his mind he said that if he is convinced that brett kavanaugh actually did this, he wouldn't hesitate to pull his nomination but he said he doesn't want to do that. >> all right eamon, thank you eamon javers at the palace hotel. let's bring in john harwood and i want to key off what eamon said it did seem like he was opening the door to the possibility of pulling the nomination of brett kavanaugh and actually going with another candidate >> yes, he held that out over the last couple of days, in fact i do think that president trump does not help brett kavanaugh by tying kavanaugh more closely to his own experience saying his reaction is colored by the accusations made against him i think brett kavanaugh needs all the help he can get at the moment it's a very difficult situation that he's in it was a very unusual press conference that was not a disciplined

president. he was flitting from topic to topic. it was unusual he was even asked about the reports recently about whether members of his administration had questioned his fitness for office quite an unusual more than an hour long press conference i don't think it's going to quiet those questions and just not what we're used to seeing. as you mentioned, the thing most directly relevant to our audience is, one, he said that he did not like what jay powell did in raising rates at the federal reserve. he would like to use that money to pay down debt and on canada he said we're going to tax their cars, billions and billions of dollars are going to be coming in and on the question of nafta, he said i don't like nafta i don't like to use the name and we don't like their representatives. that is not an auspicious sign for trying to make progress on a three-way deal rather than an attempted two-way deal with mexico >> all right, john, thank you. john harwood from washington let's bring in our traders now

and talk about what this might mean for the markets in tomorrow's session pete, what do you take away here from this wide-ranging press conference >> i think from the economic standpoint interesting when he talked about trade and saying there would be no impact but it's also interesting because we heard from mr. powell today and he talked about very little impact in terms of the economy and talked about the strength of the economy. he said, look, this is -- this economy looks pretty daggone good is what he essentially said market in after-hours and reaction after this long press conference and it's pretty interesting to see the reaction is not negative. as a matter of fact, the market is up a little bit after that it's interesting to see. >> did he say anything that deviated from what consensus thinks he thinks about the economy. >> i don't think we got anything new from a markets perspective again. we know that china trade deal, their score card is based upon how they see the markets, china down and u.s. market up and think they're winning.

i think the rehaality and taxing the next $200 billion of chinese goods will affect the chinese consumer i do think that's something the market is paying attention to. >> in fact, the consumer at a time when they were raising, auto loans, credit card, mortgage debt. all of that is higher. >> consumer confidence at 18-year highs and saw new home sales today. it wasn't great. auto sales peaking so the president did talk about, well, these tariffs will put -- they'll put tariff, money in the treasury's coffers who is that at the expense the expense of the u.s. consumer so when you talk about holding out with canada, we're talking about very complicated supply chains when it comes to autos and talking about the same thing, hold-out with the chinese again very complicated supply chains with stuff that basically we, you know, we need these inputs to go into consumer products that come into the u.s. these are complicated situations so the longer-term effect on the u.s. consumer is china and

canada over a trillion dollars in goods. >> take a long time to figure out. >> i just think our markets are underestimating the resolve of the chinese and that's -- if i had one takeaway it would be that i think we think there's going to be a negotiation and easy to get done and everything will be beautiful. i'm not certain that's the case. i'm certain that's not the case ahead of midterms and i don't see any reason for the chinese to make any moves the rest of the year see if again -- >> the push/pull on trade. he said he rejected a one-on-one with the canadian prime minister threatened tariffs on canadian autos. not sure entirely what autos are produced and going to call xi jinping. maybe an olive branch. >> it's interesting to see that olive branch along with north korea and all the rest of what's going on with mr. trump right now. >> that does it for us here on "fast money. see us tomorrow. a special nicolas madu"mad monem cramer begins right now.

hey, i'm cramer welcome to a special west coast edition. other people want to make friends, i'm just trying to make you money. my job is not trying to entertain but also educate and teach and put things like this in context call me at 1-800-743-cnbc or tweet me @jimcramer. well, we are starting a little late but we're watching president trump and we're going to put what he said into context for you. so, everyone on wall street knows that higher interest rates are bad news for the economy a slower economy translates into weaker profits and weaker profits almost always mean lower stock prices that's money management 101 for you. yet when the federal reserve tightened today for the eighth time raising interest rates by a quarter point and the stock market rallied as they believe jay powell is doing the right thing for corporate profits. the real imperative.

it was a total in fed we trust moment and lasted for all of, say, about 23 minutes. once the press conference got going with the fed chief the sellers took control of the narrative and the market got slim and the dow ultimately lost 107 points, s&p shedding 0.33% it was like we had two entirely different markets here today the bullish one where almost nobody seems to care about the fed rate hike and some seem to rejoice at the prospects the economy must be strong or else the fed wouldn't be moving and one where let's just call it a bearish one where investors got worried profits could be crimped and decided to ring the register president trump said he wasn't happy with the fed's move. the president wants a weaker economy and rather focus on job creation, even near full employment so which move was telling the truth? i think the first reaction made sense. even if it was a little too exuberant there was nothing scary about today's news in fact, i hesitate to call it news because it's not like we

really had heard anything we hadn't expected or known the only troublesome news i heard was some tough posturing just now from our president in that press conference with trade with canada and nafta revision and if no deal could be reached profit also come down. that's not in the bullish narrative. something we have to watch and not own key. it's something i know i'm concerned about. but before i explain why i'm not all that troubled by the fed at least not yet, let's go over it. the group that let us hang in there until late afternoon, what was their thesis short interest rates are at 2.25% and the bulls don't believe a quarter-point tightening can derail the economy and fit issued a statement declaring it will keep raising rates with another tightening followed by three more next year because the economy is growing faster than

they believed. anything new there not really the fed is doing exactly what they said they'd do if the economy kept gaining steam and, look, they're doing the right thing. the fed recognizes that we're headed for full employment, in fact, we may already be there as we're literally running out of able bodies to work. we can't find workers in some parts of the country and once you're at full employment. inflation is rarely far behind they use them to gradually tap the brakes on the economy. when the fed gets too aggressive like the 17 straight rate hikes they know nothing leading up to the great recession that took us to 5.25% we've seen that. so why weren't the bulls worried before the breakdown let me give you four reasons first, the fed rupds rate 2.25%. less than half of what it was before the financial crisis. the last time they took them to those levels december of 2004 and economy was still humming and i argue we're much better shape now than we were back then third, longer term interest

rate, the ones that matter to things like your mortgage, they actually and frankly went lower and, fourth. chairman jay powell assured us inflation is well under control and giving us no reason to doubt him so far if that's the case why does the fed need to move at all. because rates have been extre extremely low ever since the great recession. it's natural defense will try to normalize things it's a tricky word normalize for trying to keep the economy strong but not so strong it gets out of control this is an inherently fraught process we're going through. if powell is too hawkish he can cause a recession, too accommodating, inflation erodes the purchasing dollar. that's the glass half empty perspective. the bears view that only triggered the sell-off what makes this so confusing, these different cohorts of investors are actually all acting independently they're concerned powell will be wrong about his ability to

create what we call a soft landing meaning a gentle deceleration rather than a brutal slowdown. look when you add in tariffs if they just keep piling on chairman powell is like a pilot. a good pilot doesn't want to crash the plane in order to land but a lot of wall street guys don't believe that's even possible they think we'll have a slowdown when that happens hedge funds swap out of the industrials that need a healthy economy to thrive, in other words, their stocks will go higher and instead put the money into health care stock, a group that's relatively held up nice but this is a real issue even powell acknowledged the consumer spending could be hurt by the rate hikes and the president's tariffs. that's not great and that was before we had this new canada wrinkle. however, other managers are cheering for an agreement with powell they're buying technology stocks, they're buying the retailers of all things more on that later in the show and transports like united continental. more from them later in the show and anything doing well of late because they think it's business as usual

this is in the fed we trust camp that got overwhelmed of course, there are few managers who think the economy can actually accelerate from here putting additional crimps on the industrials as well as oils were they awful. the miners, minerals all that need strong global growth to go higher. not in evidence today. i believe the bullish camp is right right now pending some new trade blowup and the bears are making a bit of a mountain out of a 2% and change mole hill i think it won't be long until they have genuine sellers' remorse provided trade simmers in reality that's an oversimplification look at the banks. we figure they will do better when rates go higher what we're always told like virtually every other tightening lower term interest rates aren't going higher why is that? frankly, i'm not sure. rates here in america are still a lot higher than most of the developed world so maybe it's farm money pouring in that keeps

the price of bonds up and rates lower. the result we're not seeing a hike in what's known as the prime rate worse because the fed raised short-term rates and banks have to pay you more for your deposit, something the president said today but without higher long rates they can't charge you more for loans so their margins will get squeezed. that's dreadful for their profitability. hence, the weakness in the bank stocks. it may be the achilles' heel in the market i thought they would be doing better i was wrong. on the other hand there's f.a.n.g. for facebook, amazon, netflix and google these are what we call secular growth stocks with plenty of profits. they're practically impervious to this big picture macroeconomics stuff facebook, amazon and netflix all rallied today. where does this leave us we had confusing action but some groups are more reline lone stars than others and most important one is usually

economically sensitive transports they're totally reflevered to a healthy economy. hey, that's a good sign. here's the bottom line, we've got all of these different forces jockeying for position. as money managers shift their bets around and you can expect that jockeying to continue especially after what the president said tonight about trade. but based on the action today and what i know about fed chief jerome powell, i think the big sellers might be making a bit of a mistake. i'm not saying in fed we trust that's not me. that's what got the bulls burned i think in fed we trust but verify so far that verifying makes me think you'll be safe if you sit tight with the diversified portfolio rather than flitting in and out of stocks every time jay powell opens his mouth let's take some calls and go to ed in iowa ed >> caller: jim, hey, my dad worked for dupont when i was a

kid and i was pretty impressed with the safety program they had and how it fit into their business plan. so over the years i've been investing in dupont. whenever i had a few extra dollars and i benefited quite well on the split came and then i benefited again quite well with the dow chemical merge are an now it represents about 20% of my portfolio. and i'm really looking forward to the next split of the company but i'm concerned because it hasn't been doing too well because of its primarily an agricultural-based company and the tariffs seem to be hurting it so i'm curious -- >> ed, you're right. you're absolutely right. the tariffs the president addressed the farmers is an issue involving dow dupont the problem is we got number cuts having to do with the price of oil and i thought the number cuts would be misdirected and ed is doing great with the numbers. i am urging people to sit down and do buying like my charitable

trust because i think the through companies that it will split into will make a lot of money for people sit tight. jerry in indiana. >> caller: hello, first i want to say i'm a lifelong die-hard philadelphia eagles fan, i know you are and second, you recently commented your feelings strong about the dividend of century link and given the weakness in the stock the past few days because the cfo resigned i'm wondering if you considered this a good buying opportunity thank you. >> jerry, you're right i never like it when the cfo resigned in real money, the book, this may be -- something you have to take really great caution on i don't want to take back what i said about the dividend because i see the cash flow but disconcerting. i want to know more and you're right to be worried. all right. don't take one day as gospel the fed doesn't have all that much control over your portfolio's destiny and that's why it's key to have a diversified group of stocks to get through this period.

on "mad money" from cnbc one market in san francisco where are the hedge fund managers flocking to? i'll build the mechanics of the market then united was once the black sheep of the airline cohort the stock flying to new height this is year, amazingly is it clear skies? i've got the exclusive with the ceo and royal on-set, no, not prince harry, cloud king vmware is sitting down with me right here you're not going to want to miss it so stay with cramer >> announcer: don't miss a second of "mad money." follow @jimkracramer on twitter. have a question, tweet him at #madtweets send him an email at madmoney@cnbc.com or give us a call at 1-800-743-cnbc miss something head to madmoney.cnbc.com. do you hear that?

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to groups that are still of late getting a new lease on life as money managing can't resist returning to a tried and true story especially the confusing session like we had today. that's why when the averages got slammed in the wake of the fed meeting we had unusual pockets of strength. pockets like retail. look, for the last few weeks the retailers have gotten shelled. basically on theoretical fears about the trade war with china and how tariffs will cause the consumer to have less purchasing power. i say theoretical. no degradation in retail but based on anticipation which to be fair is how the stock market works. the whole point of stocks they tend to discount future development as head of time. this morning, though, we got incredibly positive retail research from daveson, a boutique firm not known for its market moving potential typically but their note managed to get the group rolling because retail stocks, let's just say they were ripe for the buy four part, the mall is not dead. brand power rules and product

positions has a real impact along with tag leapt not new concepts and buoying it for months and months but because they were taking a break because of the tariffs, the thirst for warmed over ideas was incredible what do i mean by that, the most highlighted are tjx up and burlington up 34% and canada goose up these are three amazing performers stalled out at late but rocketed higher thanks to one push tjx a buck and a change and the other two gained more than five bucks. canada goose is best of the bunch because we're going to the best time of the year for this maker of fancy fur lined coats and parkas i know canada goose has been diversifying away from winter wear but it's practically the season they're ssynonymous from nike last night, i know when you see an iconic stock

like nike get slammed at one point it was off 3 bucks before closing a dollar low, you assume it can't be as strong as it thought. you can't take your cue from the action like that sometimes the market makes mistakes in the case of nike the stock soared even after today's decline by the way up nearly 34%. that's the best performance stock in the dow going into the quarter there has been whisper developing the controversial colin kaepernick ads have produced bountiful returns and bet parker would talk about directly how sales picked up because of the kaepernick campaign. there was no need for him to say anything he didn't give the traders the gristle they wanted so they dubbed the stock en masse creating the impression there was something wrong. it was just an impression. nike's u.s. customers were not deterred from buying some very expensive sneakers hey, don't forget. that's nike real stock to trade and that's good news shows you the retailer is doing

well and the consumer is spending maybe like crazy and there's more this morning oppenheimer upgraded gopro saying it's time to capture the upside. argue that inventories are low fueled by new products that could strike a cord with the consumer put it together. pastiche and the discounters are still working as our expensive shoes, coats and gadgets and they want to buy everything from foot locker to best buy which sells a lot of gopros to canada goose which tallied nearly 10% today. when there's nothing new you circle back to the old as silly as it sounds take it from this old hedge fund manager, that's exactly how bored traders operate. and it's why retail managers trend to buck the gravitational pull of the averages today let's take some calls and go to john in pennsylvania john >> caller: hi ya, jim. long time, second time

how are you doing? >> john is in pennsylvania how can i help >> caller: i'm calling about urban outfitters up nicely today but down almost 20% from its recent highs is this a good time to accumulate more shares, sit tight or should i take this opportunity to sell into the rally? >> no, i don't want to you sell in the rally multiyear story. that is a fashion story and that company has a great handle on fashion, all three legs of it has been doing well and urban decline is a decline you want to buy. all right, out with the new, it's called the circle of trading. traders always go back to the stocks that have worked before but if they've been resting they're ready to go. tonight on "mad money" attention passengers, this is your captain speaking i'm sitting with the ceo of united continental to let you know if it's time to board the stock which did nicely today then vmware is up more than 20%. is it just getting started i'm finding out what's ahead for this clout king and on box to see if the stock's recent

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whenever they need it. this is our era. this is america's energy era. nextera energy. want to know why i'm so sanguine about the company beating heart of american commerce, a couple weeks ago we talked about the raining bull market and railroad stocks even airlines are turning especially united continental. this stock has been a juggernaut up 25% over the last three months as the company has been able to deliver terrific numbers. how do they do it? it's the company itself. as united continental has been doing a lot of things right and making itself a more efficient operator among many other things, don't take it from me.

let's check in with oscar munoz, ceo of united and learn more about its prospects. welcome back to the show. >> nice to have me >> you promised when you came in we'll get the planes running on time and we're going to improve efficiency and paid off. >> it sure did as you know we've known each other for a long time and did it at another company you have to find the secret sauce. what is it you're trying to fix. rails, too much capacity and getting pricing up but always underpinning that your people and the service you provide to folks and without you build a great team, find the right focus. for us united as we talked about before, it's about uniquely united necessity to grow and we just hadn't grown for a long period of time always a top line business and so that plus our improving customer service is really a catalyst for what we are today. >> you have not been hurt even though i'm sure, but look your president said fuel prices can

have the same impact as a downturn but you're flying high. >> we're on board marching towards being able to recapture a lot of the fuel costs we increased. part of that is the burgeoning economy but ability to grow and go into markets and provide product and services your customers want and efficiency. i've got 90,000 people all about being efficient and carrying when it comes to taking care of our customer. >> there is a recent hike in baggage, that's necessary, that's something that consumers may not want but important for profitability or service improvement. >> it's important to reinvestment it's one thing that our customers don't underunderstand. all that money we're getting back is piled back into the business you've seen where airlines have gone bankrupt and seen poor safety and poor service. >> one of the things that has kind of been very

counterintuitive trade issues but i understand pacific, the pacific area has been growing for you and how can you explain that versus what we hear in the papers >> because we have a really smart group of people. they know where they stand -- you got to fish where the fish are and constant fishermen to use that silly analogy we have contacts, relationships, we always understand when something is moving nicely and that's where we go. >> i always am concerned there's too much capacity coming on and you have fare wars. >> you were coming offstage. i was raising -- coming on to the stage and concern was in january and we kept telling people it's not about the capacity but gave eps growth for the next three years, it's about our earnings. >> in all the years i've been following airline industry but first airline stock in 1982 i've never seen balance sheets like this it's a statistic that jumped out at me, in 2015 you had 376 million shares, 2018, 275

million. you're lucrative. >> a real business maybe no, listen, across the industry balance sheet has been great, brought debt down and provided a lot of returns to investors with capital but always mindful of the history and we always keep a nice balance of cash because at some point in time anything can happen. >> i had gotten used to candidly united continental labor issues. i don't hear that anymore. just -- i know nothing just goes away. >> no, listen, one of the first things i did was regain the trust of our employees which is why we're here at salesforce trust is the under pinning of a lot of things we do. it doesn't compute on spreadsheets but such an important part for everything we've been able to do and built the connection and engagement level that built on trust with our front line employees and we know we continue to move forward. never ever an ending project with keaching them engaged and motivated but doing a good job. >> i know you have numbers in this i'm trying to figure it out.

does it matter, let's say somebody says, oh, geese, on time, not on time. i think there's no competition people can choous you instead of another carrier. if you do better you get planes on time more they will switch. >> we're united and of all the customer service and information that comes back and forth being on time, getting me where you told me you'd get me on time is one of the more crucial things after that your seats, your coffee, your cookie. all comes after that but on time and the neck thing, next big thing we're working on we want you to make you feel good about flying us so customer centristy and properties are secret we want to engage in and do all sorts of great things. you will hear from us next year, literally every week a drumbeat of constant customer oriented engagement that we're rolling out. i can tell you they're almost weekly because we have them planned from digital space to product offerings to new announcements and new routes, excited about the next year.

>> i get the upgrades and the update on the techs. we are out here to talk about customer relationship and you're giving a keep note address what are things you can tell us? give us a little insight about what you're doing with these new platforms. if you didn't have any customer relations technology i guess you would have to fall beyond -- >> it's such a digital world and need to destress the travel lifestyle and how do we keep you informed and keep you focused and directed when something goes wrong. more importantly before you even leave your house, you know your flight is on time. you know where you're headed whole host of communicative rshs and back door, things you don't see, untethering our folks from their work and being able to be out in front and focus -- we'll make a lot of those announcements over the next year and we're really excited >> atlantic seems very strong, right? that continues to be a lucrative place for united continental to make money. >> around the world for us other than latin america which has

been a little soft, it's been just a great market. the economy has been running great. we're flying a lot more places we're in san francisco, beautiful backdrop that you have here one of our great portal cities and usually go east and we started so many new flights from here to europe, to tel aviv. to all the different places and that side of the world and exciting to be able to have enough level of money that we can reinvest and provide this service to our customers >> last question, did you ever think it will be like this when you came in i have to tell you, that stock, that terrible videotape. obviously not your fault could have happened to anybody did you ever think you could be flush running an on-time airline and getting so the customers are back. >> easy to say in these times. i never had a doubt but you know what, you watch this before. we've done it before in different places and have a great team and focus and you get your own internal things and know where you're headed and what's your best competitive asset and it's our 90,000 people around the world.

>> congratulations for all your success. that's oscar munoz, the ceo of united continental and why not, you just heard why "mad money" is back after the break.

we're through the fed but now canada is our next focus holily cow i always say that's a bull market somewhere i promise to find it right here for you on "mad money. i'm jim cramer i will see you tomorrow. face the sharks. face the if they hear a great idea, they'll invest their own money or fight each other for a deal. this is "shark tank." ♪ first into the tank is a radio deejay from san diego, california, who's pitching the sharks his syndicated radio show. hi, sharks. my name is r dub. i'm the creator and host of "sunday night slow jams." i'm seeking $75,000 in exchange for 10% equity.