i will take the ex-elliott 7. courtney? >> the airlines have the opportunity. i look at the delta balance sheet. >> i want the fans to know, before the fans, they i knew that my job is not to entertain you but educate them teach you.

right now we are figuring out if the recent collapse in commodity prices is because the feds were asked all the excess out of the system for because the world economy is slowing so rapidly that were headed for a total recession. that is the number one question. the nasdaq lost. i wish i could tell you the answer. i don't think it is available yet. this morning i had a discussion with the businessman turned philanthropist. he was adamant that -- is the culture for commodities. nelson plastics and wood is all down badly. industry is slowing. >> how inevitable is the recession in your view k are we in a recession? >> never say never. i think we are in a recession.

intellectually. >> that rang with me all day. is a? what we approach this empirically before we conclude we are unavoidably headed for a recession. the ideal outcome is to get enough of a slowdown that the fed can -- gradually. every day we get clues. we just need to know how to interpret them. pending home sales edged up in may versus april.'s that means the federal have to tighten more aggressively. than you will meet the headline. then you see the truth. 4.4% month over month. it takes place in the last. they are more expensive than the rest of the country. contract signings are down from

a year ago. this is where it gets tricky. the chief economist since it seems alarmed by the number. try to balance the market by choking up demand. the better way to balance the market is to increase supply. the homebuilders are trying to -- . we could be looking at a rapid break down. that is good news for the stock market. my wife taught me that the prelude to a sudden plunge is a drying up of contracts. the decline is what he wants to see. he needs housing prices lower.

when you put together the declining value of real estate to that of the 401(k), you will have a weaker consumer. may be much weaker. how about the enterprise? there are doable goods orders up slightly. in a vacuum, it is excellent. we are in a good news and bad news situation. the fed needs to tighten aggressively. break them down one by one. soy, sugar, corn and cattle,, is on pace for the first month since 1995. it is fantastic. we are worried that it causes a worldwide food shortage. now it is less likely. the collapses are what you want to see. crude oil but spent most of jingling lower snap back.

-- up 3%. it is hard to believe we can have a soft landing. high gas prices put a ton of pressure on the fed. we can go back and forth. one of the fastest growing repetitive motions. about 5% of the scope. that would be inconceivable. than the common layoffs. the business is falling apart. the mouth is ominous. you can only imagine. goldman sachs has told me they cut -- swiftly and could still make excellent money.

than the high-end real estate market. then again, morgan stanley announced a $20 billion buyback and 11% boost in the dividend. how bad an things be there? goldman just took the dividend up to $2.50. then there was the report today saying it -- more people than it already has. where do i come down. i am thinking we really need, a knockout punch. just against inflation. a real roundhouse. on the other hand landscape. i said the fed needs to hit us

with the 100 basis point rate hike.'s that would take us where the loss loses value and homes become more affordable. the labor market cools off. than he's talking about multiple hikes. the stock market may be okay, given there is a mix of good and bad. it is consolidation day. i did not mind it. we are not where we want to be. the fact that oil and gas are up is maddening. the bottom line, it could go either way. maybe that is what we need to see. of all the data, we would be set up for a series of aggressive rate hikes. if all he data were weak, it is too late. it must be done. or else you are blind to what is happening. like we said our morning meeting, you need to calculate

if you're going to invest. that is what i like to do. all i can say is so far so good. >> i want to thank you for being such a great successor. he cared about the average investor. >> you are really kind to say that. >> my question is about caterpillar. i have a great profit in it. i am wondering if i should tear back my position. >> i want you to buy more. if you take a 3 to five-year approach, it will be great. that is the way to look at it. don't forget the yield. i want to go to todd in texas.

>> you made my day. >> what is your take on global foundries? >> right now, the business is good. it is typically not a good business long-term. i think it will be fine. i would prefer you to be in -- . they have to buy in order to make it work. that stock is very cheap. now we go to john in maryland. >> how are you in staff doing? >> my staff is unbelievable. they make me look good every day. >> you do a great job. >> my question, i'm a longtime holder of morgan stanley.

i bought some a little under 90 in early march. i have been following it and thinking about buying more. it looks like it is positioned well. what are your thoughts? >> i couldn't agree more. we keep buying it down like you. tonight covey announced a gigantic dividend boost. more importantly, they have a $20 billion buyback. they are buying everything they can. that is why i like morgan stanley. they are doing terrific. it is such an inexpensive stock. is kind of ridiculous. straka silicon wafer company that supplies companies like intel. i am talking to the commerce

secretary to get a read on what the government is doing she helped get that here. then fedex supplied after earnings. what was behind that. will continue? right now, the numbers. i don't know. this is the stock of a company makes things and those stuff. we will find out more with the ceo. stay with kramer.

a jelly bean that's good for you? try nature's bounty jelly bean vitamins. good-for-you nutrients in a tastier-for-you form. more sweet dreams. more flavorful immune support. get more with nature's bounty jelly beans. never be afraid of your strength, because your body is capable of amazing things. own your strength, and see how far it takes you.

tonal. be your strongest. my minions will save me. own your strength, and s[ speaking minion ] you. unless they screw everything up. hello. at xfinity, we're constantly innovating. and we're working 24/7 to connect you

to more of what you love. we're bringing you the nation's largest gig speed network. available to more homes than anyone else. and with xfi complete, get 10x faster upload speeds. tech upgrades for your changing wifi needs. and advanced security at home and on the go to block millions of threats. only from us... xfinity. wanna help kids get their homework done? well, an internet connection's a good start. but kids also need computers. and sometimes the hardest thing about homework is finding a place to do it. so why not hook community centers up with wifi? for kids like us, and all the amazing things we're gonna learn. through projectup, comcast is committing $1 billion so millions more students can continue to get the tools they need to build a future of unlimited possibilities.

we work with government to -- big business. it was the major reason for shortage. when it comes to fabrication, i have good and bad news. the good news, we learned that global wafers is building a multibillion-dollar factory in texas. the first one of these facilities in more than two decades. than the bad news, that chipset, it would support much more investment and it still wasn't passed congress. house past one person in the

senate another. last week, intel said they might have to scale back the plans to invest billions in new domestic plants if the bill doesn't pass. earlier today, we had a chance to talk about all of this with the real driver of legislation. the secretary of commerce is taking point on the issue. >> good to be with you. >> this is a big announcement about global wafers coming to texas. could you give us that good news? and means a lot of jobs and a lot of semis. >> it is huge. they're going to make a $5 billion investment to have a new greenfield facility to

produce silicon. is what you need to go into semiconductors. the reason it is so huge, it feels a whole in the united states supply chain of semiconductors. right now, we don't make any of the silicon. with the size, they will produce enough to fulfill the entire domestic demand. it is a huge announcement and thousands of jobs. it is a vote of confidence. it is the hope that congress will pass the chips that. >> i also want to emphasize, this might have gone to taiwan. they may have built it there. that is too close to china. we do not have enough capacity in our country. >> that is right. i spent a long time on the phone with the ceo.

that is right. just a few weeks ago. it wasn't obvious they would choose the united states. it was a big incentive to operate in south korea. we won. this is competitive. the united states won. as i said, it is a vote of confidence in our country and economy. it is the commitment to revitalizing the industry. i want to say this. disinvestment is contingent upon congress passing the chips act. the ceo told me that herself and they reiterated that today. congress better get the job done and quickly. for years talking about how -- and people loaded it down with other things.

the new york times -- warned congress. they are making issue so that a done deal is not getting done. what day, what we, what month will be see it done. >> it has to be done before they go to august recess. i don't know how to say it more plainly. this deal will go away. if congress doesn't act. intel has publicly said, their plan to put a facility in ohio is on pause, waiting to see if congress gets it over the finish line. they have plans on pause, waiting on congress. the stakes are high and time is running out. decisions are made now. here is the thing, semiconductor demand is through

the roof. the demand will double in the next few years. it takes a couple of years to get a facility running. companies have to make the decisions now. they made the announcement today because they need to have the cement in the ground and facility in november. it is a new way of saying they had until august 4. >> he recently told me that europe is ready in europe wants it. they're doing everything to get them to do this. europe is a hospitable place. there's no reason it has to be here unless we get this done. there targeting the companies with incentives. south korea has the k chip act.

they are aggressively targeting companies. france, israel, spain, they are ahead of us. these companies want to be in america. good talent. customers are here. mark my words, if labor day comes and goes, and this act is not passed by congress, these companies will not wait and they will expand in other countries. those are once in a generation investments that the country will lose out. >> center macconnell has to be involved. mccarthy likes the bill. nancy pelosi definitely wants this. the president has said, give me the bill. what is the problem? who are the people that are getting away at best. we have to make it clear they are hurting the country. >> it is time to get much more

practical. in the past few weeks, congress is doing that. they are engaging. in the past few weeks, i spend time on this every day. everyone has to realize, you will not get everything you want. we have to -- down to the essential items and get this pass to move quickly. it is time to prioritize speed over getting everything in here that you want. i would say, the consequences to the national security are grave if we don't get this pass. if you don't get everything you want it is time to move on. we cannot wait. >> i am told there are trade titles and science funding in foreign relations committee provisions. those maybe good. they are being loaded into the bell that makes it unclear that

it will pass. if it is not done, it will get difficult. have they even scored it? scored what it would cost? >> it is the only appropriation. you are right. there is a trade title and affirm relations title. there is a lot in here. the message has to be to set a deadline. on the amount can't drop it. leave it to another day. if we don't, they're going to have to build the facilities in other countries. global wafers. let's say the united states

stopped importing silicon wafers from other countries. within three weeks, our entire domestic supply chain would be shut down. that is how vulnerable of a position we are in. i talked with congress every day. you can't not do this. if you do not get the provision now, we will deal with that later. the chips component cannot wait. >> we are cheering from you. i know from the defense department, they need this badly. you have to get this done. coming up, special delivery. what is driving the recent rally? cramer has the goods . next.

[zoom call] ...pivot... work bye. vacation hi! book with priceline. 'cause when you save more, you can “no way!” more. no wayyyy. no waaayyy! no way! [phone ringing] hm. no way! no way! priceline. every trip is a big deal.

the stock surged a couple of weeks ago. it will help lead us to the depth of this there. it topped out in june of last year. it is easy to understand why it has been a poor performer.

consumers pivoted away. they were up against very tough comparisons. this month, fedex made a number of announcements. now the stock jumped from 201 to 240 in two weeks. you have to understand where it is coming from. 2019 was not a good year. the trumpet ministrations trade war. than the pandemic came along. wall street realized that e- commerce could explode.

the only place to shop was the internet. by the end of 2020, fedex was charging all-time highs. in september of last year, they turned in a week quarter, blaming the delta variant for causing major staffing difficulties. it was a great piece of the conference call. disrupted operations badly. things got worse. wall street started worrying about a slowdown. than a general economic slowdown. once the fed got really serious. earnings came in weaker than expected. even as management reiterated the forecast. even before the quarter, we start hearing speculation. pushing for changes.

-- wants or has always been on for the last couple of years. he is the chief operating officer. in what turned out to be a pathetic interview, he sounded very confident. listen to this. >> we are very confident in our strategy. we're going to show a lot of those that we haven't showcased in the last couple of years. >> it created the business. it is the jump from the mid- 220s to 240s. fedex bounced off that level.

that is when we got a series of announcements. they came on the show. they fundamentally changed the whole narrative. fedex put together a 53% boost, raising the payout from $.75 to $1.15. even after that height, we are talking about a 2% yield. this is the kind of move that is a major sign of confidence. we always tell you to pay attention. the 2% yield is not enough to be competitive. this is a market that only values profitable countries vestment companies. at the same time, fedex appointed two independent directors as part of a cooperation agreement. they also changed -- much more

responsive. we like that. the big thing, all of this reflected the deeper chains. years the company has been spending money like crazy. it didn't really work out that well. than that increasing e-commerce world. now it looks like fedex is reaping the award. they can put the cash to better use now. that brings us to last thursday. this was not a super impressive quarter. told a different story. they could earn 2250 per share. the analysts were looking for less than $22. micah told you, this is a tough

market. the earnings estimate was still too high. in some cases way too high. the estimates for fedex turned out to be too low. business was actually better than we thought. we got a few more today. now let's talk about the final piece of the puzzle. let's talk about making money. he said to expect good things from the next investor day. the event that comes wednesday. first investor day in a decade. this will be the new ceo's first major chance to layout the strategy. i am optimistic. not just because he is a genius but because fedex is finished with the huge capital expenditures, it could be a more profitable company. it might be the tip of the

iceberg. it is high gas prices and potential e-commerce. that would be wrong. based on the new guidance, it is just 10 times earnings. you could do a whole lot worse. jacob in new jersey. >> thank you for all that you do. i would like to give a shout out to the nurses at overlook hospital. >> they are so great. i know a bunch of them. i am so glad you brought them up. >> my question is about a vacation ownership company or a timeshare. here is what i would like to know. with increases in leisure demand and now negative headlines about increase talks and higher interest rates, what is your opinion on the company travel and leisure.

>> i am not a fan. we're going to spend our money and then be done spending. we are not going to travel. they are traveling beyond their means. robert in illinois? >> i have a question for you. there is a negotiation going on in kansas city. i want to know what your insight is. just a fabulous thing. >> they are the best that you can buy. i hope that whoever gets it

wins. it is just a great piece of business. this is what you are looking for. 1.9% yield. i like this one. it is into a diversified network solutions company and could be the secret to be embraced by wall street? and after interviewing the sec chairman, i thought we have to start -- . stay with us. another crazy day? of course—you're a cio in 2022. but you're ready. because you've got the next generation in global secure networking from comcast business. with fully integrated security solutions all in one place.

so you're covered. on-premise and in the cloud. you can run things the way you want —your team, ours or a mix of both. with the nation's largest ip network. from the most innovative company. bring on today with comcast business. powering possibilities.™

sometimes it means new companies. i would rather hunt for old companies that are being overlooked. for many years, the company made cables, copper and fiber. to have industrial automation, broadband and 5g wireless. the company is doing very well. because the market -- , they have been stuck in the 50s. imagine just reaffirming two weeks ago. don't take it from me. let's check in with the

president and ceo of belton. have a better sense. >> i appreciate the opportunity. >> i said i didn't want that copper and ladder company. what the have? i think like many, i misjudged. mid starts what you're doing and what you're doing with broadband. fantastic automation. perhaps the fastest grower of all the companies i follow. >> the missed perception as part of the problem. we used to be 100% a cable company. that is now about 35% of our revenue. within those markets we were able to provide complete

solutions. is what you are passionate about. we feel that within industrial automation which is 54% of revenue. the solutions include launching in a secure environment. i think this environment is beneficial. most people say you are an industrial company. think about machine builders. the company operates large machines as opposed to making capital investments. they are now more likely to optimize and make sure the assets are higher productivity.

>> you are growing 16%. >> we have a high innovation rate. in that business alone we have 800 patents. we have high customer intimacy. we work with all the major broadband providers. that more and more internationally as well. we are able to provide solutions together. >> we have to be confident about secular growth. it could be derailed. >> the way we get to the -- by 2025, you have to have a good goal. that implies 12 percent annual growth rate. that is what we found over the last few years.

including the dip in 2020, if we take the mid-point of guidance, that is 12% over three years. >> smart buildings. sometimes i feel that is -- . honeywell tells me there are smart buildings and that you have companies that -- . honeywell is huge. >> we operate in a slightly different space. we used to play in commercial real estate. that is still part of the portfolio. we reallocated resources to mainly healthcare facilities and data centers. >> one last thing, when you have analyst that literally say, you are going higher rate and ignoring the fed in china and europe, what you say? >> focus on what we can

control. i think this tightening is good for us. >> will some of the bigger firms follow? you have a much more compelling story than a lot of the industrials. >> we feel good about this trend. we launched a complete new program. it makes assets more productive. >> return some capital. that is the solution. if you remember in the old days, you got it wrong.

[sfx: street ambience] ♪ ["fly me to the moon"] ♪ ♪ ♪ imagine a community where millions share ideas and trade stocks, crypto and beyond. to the moon? in other words... etoro.the power of social investing.

- common percy! - yeah let's go! on a trip. book with priceline. you save more, so you can “woooo” more. - wooo. - wooo. wooooo!!!!! woohooooo!!!! w-o-o-o-o-o... yeah, feel the savings. priceline. every trip is a big deal. i had no idea it was that easy to diversify my portfolio! ♪♪ go to investor.gov today to learn about diversification

and other valuable investment information. before you invest, investor.gov.

in this time. than the lightning round is over. are you ready? >> what do you have? my question is about a stock that was -- early.

>> and want to see the balance sheet cleaned up and then i can like them again. i didn't want to see any actual interest rate risk. mark in michigan? >> i have been watching you since your -- days. >> i am interested in wi are ready? it is a good investment for 10 years? >> no. it is funny. we had bellman on tonight which is a rifle. >> it could be good. we are not recommending any companies that are not making

any money. it is too risky. i am sure i will end up passing on great companies. you have to have discipline. >> hey big jim, you are the sam baker of fried green tomatoes. >> i thought i would give you a shout out. >> i think it is an inexpensive stock. let's stick with morgan stanley. then we need to go to charleston south carolina. >> great to talk with you. >> want to get your opinion. this has a 6.5 yield. 50% earnings growth. what do you think about umc?

>> it is a great spec. let's leave it at that and move on. andean colorado? >> i have a question for you. >> i thought bank of america could've boosted a bit more tonight. it makes me feel like it is better to go after morgan stanley. it is a fact of life. that is the conclusion of the lightning round. >> the lightning round is sponsored by td ameritrade. you are one of my heroes.

>> i look forward to your show every week night. >> thank you so much. >> when you talk about the market, i believe you are spot on. >> every night we watch you and i have learned and earned.

there is a smugness about the people that promote crypto. i find it unnerving. don't get me wrong, i love

innovation. while they were talking crypto evangelists were sponsors, they don't seem to understand something called the securities and exchange commission. he reminded us, disclosures the most important part. the commission is in trying to stop things, they are making sure the investors know what they're getting into. there are a lot of companies that don't seem to want you to know what they are up to. it it is like they think it is a dirty word. there are 400 companies in search of businesses to buy. they are in essence buying -- companies. when they find a company to merge with -- . >> is when i -- in 1999.

then we shot the points down one by one. i always suspected the commission as a trader. then it kind of blew me away. i am glad they are getting serious about the fax which is a way for startups to become public while avoiding the scrutiny. it is -- under the chairman. it has finally run its course. it brings me to quit tell. it is clear that the promoters don't understand. they behave like there are no rules. right now the chairman is studying the situation and some say he is awfully late. if you buy it with the expectation it will go up, it is a security which means it will be regulated.

>> right now you have hundreds if not thousands of these tokens that have the basic attributes of raising from the public. having a group of entrepreneurs say comehither. we have a good idea for you. that is okay if you comply with the law. we have a lot of projects that are noncompliant. spent there badly misinterpreting. it may be a benign neglect. crypto companies like queen base feel there is no lash coming with the aggressive promotion. i was hoping they would push for the tether called stable claimant is meant to be -- to the dollar. it is backed by lots of commercial paper that we know nothing about. what he did get us a bit of a warning to the industry.

people getting new investors into crypto. they have had enough. they don't want more people losing money. these purveyors seem to bleed thinking they can get away with anything. the more havoc they wreak, the more they will feel the lash of the commission that makes the vast changes across america since the supreme court's land mark ruling on abortion i am shepard smith this is the news on cnbc the scramble to action after the overturn of roe v. wade. >> do we believe people have a rate that's been taken away but we are going to fwarnt in the state of illinois. >> new legal challenges to state' abortion prohibitions the. the surprise hearing announced for the january-6th committee. the myster