opportunity. they are going up and down. probably closing up on that. >> shout out to dan as the yields go lower, going higher. >> thank you my mission is simple. to make you money. i'm here to level the playing field for all investors. i promise to help you find it. mad money starts now. hey, i am jim cramer. welcome to mad money. you want to make friends? i'm just trying to make you a little money. it's my job. not to entertain, but to educate and teach you. call me at 1-800-743-cnbc, or tweet me at jimmy cramer.

the dow gaining 436 points. the nasdaq, skyrocketing 4.06%. two words. data centric. when my pal spoke that phrase, it meant that the fed is not going to kill us. this would be the kiss of death to the stock market. but, jay says it's now important to watch the data after these hikes. the data stays too hot, of course, it will keep hiking. otherwise, he wants to sit and watch. it was at this point that we have enough weak data to justify some impatience. he is, officially, now, ahead, not behind the curve. the bulls took this as a moment, and it might be a little bit longer moment than most of you expected.

these do not tend to last though. the last two rallies in response to fred rate hikes have yielded nasty stuff. okay, how big will the next rate hike be? there really is some softening in the economy this time. the odds favor buying, not selling stocks. you know i don't like to buy on spikes like this one we had today, but the dialogue will switch to how big will the next hike be from will there even be a next hike? it will promise to be smaller than the last two, but i have long been a jay powell fan. i am on his side. i wanted to do a couple hundred, but i will take 275. that is pretty perfect, hence the rally. the market would've been crushed

if powell said the economy is red-hot. they need an emergency rate hike next month to stamp out inflation immediately. don't take that off the table. it doesn't sound like it will. we are being a little theoretical, and you know that i don't like theories. in today's session, a lot of bears were caught, trapped, filleted, and put on the wall. kind of like one of those museum exhibits. the bears were caught looking the wrong way. look. it could be a fine way to make money, but it can also lead you astray. lately, i've seen a lot of extrapolations done wrong, and very little done right. not long ago, a distinctly second-rate company, snap, recorded a horrendous quarter.

calling out tremendous weakness. what happens? the web gets absolutely crushed. after snap, i think it is impossible that anything good can come from an internet stock. that is when the short-sellers come out of the woodwork, betting against anything that is even remotely similar. alphabet, the parent company of google -- they think it is easy money. this is a much better company than snap. a much higher return on investment for its advertisers. plus, alphabet is always first party, meaning that you are always going right to it so they don't have anyone blocking their data tracking. you got to their site, so you know who is going. you get a return on investment. with other kinds of advertising, you have no idea if it is working. with google, you can figure out what you're getting.

you have every incentive to spend more. with snap, it is rice crispies. snap, crackle, pop. alphabet is up nearly 8% today. now, meta, which reported this very evening, did not have a good quarter. yes, indeed, the long knives are out for this stock. it is down more than 50% coming into the quarter. by the way, it was also up 10 points, just the session. it's going to give something back. was it horrendous? i'm putting it in the not horrendous camp. i'm putting it, once again, in the yeah, we own it, we have a low basis on it. here is what i say. some are selling. maybe it's going to give you a little giveback after that rally of 10. how about the extrapolation we've seen with the stock of shopify? that has been a nasty one, hasn't it?

this podcast and music streaming company has been ignored by the shorts. it didn't matter that we all loved the company. it somehow got tagged as being a stay-at-home play. that, that my friends, is the kiss of death. after all, shopify is a subscription service, like netflix. aren't they the same? wrong. spotify just crushed it with an amazing month. extrapolating from netflix just crushed you. absolutely. it shredded you, quite frankly. spotify jumped more than 12% today. i don't know if we can get it down here. do they deliver? chipotle? we don't know if they deliver. anyway, that is beside the point.

it is probably a dangerous stock. higher-priced food, hard to keep help, can't raise prices. just like all the other fast food companies. this was like shooting fish in a barrel, which i have done, by the way, and it is not as much fun as trying to land one in a pond. today, chipotle delivered a blowout quarter. the stock jumped nearly 15% today. why not? the price increase has been met with no resistance. they stay and stay and stay. you know what? can i also add that food is very good. sure, chipotle has some things that are wrong . they have a more affluent clientele, so you can't say it it is because everybody is still going. it is really the wealthier people. isn't that something the sellers should've thought of before they started shorting the stock? chipotle has always had a higher price. don't get me started on these other stacks.

each of them has had an achilles' heel. it has really been hurting lately. when everyone has given up on crypto, it looks like a sophisticated pump and dump scheme, doesn't it? they also got exposure to gaming. amd has the same problems. it also has personal computers, a business that people are really worried about. 5g, oh, scary. i have a scary button. then, google and microsoft started talking about how much computing power there cloud businesses need, and boom, it is up and away. it doesn't hurt that the senate finally passed the chips act today. you know we are a bunch of hacks. i'm going to go tell my staff to get me some chocolate chips. i prefer chips ahoy, in case you want to know. what could be worse than telco after at&t and verizon both reported for horrendous numbers?

just imagine. who wants that? once again, the shorts got it wrong, because t-mobile blew away the numbers. they are taking share from at&t and verizon. at&t complained that its customers are paying their bills late costing them hundreds of millions of dollars. verizon has to spend 10.75 million on dividends, but t- mobile does not have those obligations. plus, unlike the other two guys, t-mobile doesn't have to raise prices. just imagine how many customers they will poach next quarter? look over here. look at all these crazy people. it was like a food stamp. i was on food stamps. that's my staff. where are we? absolutely. now we know the fed is not done with it's hiking, right? we know that inflation is still too hot.

as i said earlier, these rallies tend not to last. that's terrific. that is what we do on mad money. we know that powell doesn't want to cause a recession, and doesn't think that he needs to cause a recession. there is an advantage for the bulls here. listen. when a company misses and dies down, don't expect it to raleigh, because that is not how you open the bulls. bottom line, the fed looks to be out of the way until september. maybe they are ahead of the game. let's go case-by-case. i bet there was some softer background. the declines and everything else , at last, could be more muted. i want to take calls. let's go to john in washington. john. >> hey, jim, how are you doing? >> i'm doing well, john. >> okay.

i'm down about 10% in diamondback energy. with earnings coming up soon, i need to know, should i buy some, sell some, or just wait it out? what do you think? >> diamondback energy has a very good view. it is an excellent company. travis dice is a terrific ceo. my inclination is to buy it, but it was up five points today, but i would not sell fang. this is the replacement fan, because of the yield and the management. they are in very good shape. i think that's all the questions we can take. i am saying hi to my staff again, because they have done a good job, and i am in an incredibly good mood. it looks like the fed is out of the way until the next meeting. with a softer background, the next earnings will be rewarded with higher stock prices. bank of america has its finger

on the pulse of a host of topics, and i am going straight to the source for answers with the company's ceo. then, ford, holy cow. i will take a closer look at the results, which look darned good, with the ceo. and, shopify announced plans to lay off 25% of its employees. we have to figure out what is going on there. stay with cramer. >> don't miss a second of mad money. follow @jimmycramer on twitter. have a question? tweet jim at #madtweets , or give us a call at 1-800-743- cnbc . miss sothg?mein head to madmoney.cnbc.com.

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after spending most of the year in the doghouse, the banks have finally started getting there do over the past couple of weeks. this is a tricky group, because the banks instantly become more profitable every time the fed raises interest rates, but if those rate hawks cost too much damage to the economy, people stopping back their loans. today, the fed gave us another 75 basis rate hike, and jay powell made it sound like he is going to watch the data, meaning that he won't totally destroy the economy to save it if he does not have to. that is great news for the bank stocks. the best play on bank rates is bank of america. it doesn't hurt that the last quarter was solid, and they have the best technology in the business, one of my favorite

things. don't take it from me. earlier today, we got to speak with brian moynahan, the ceo of bank of america. take a look. >> highly unusual. we get one of the largest rate increases our country, the fed, has ever given us, the market goes up, and people cheer. make some sense of this for me. >> at the end of the day, inflation is a tough thing. there are quotes about the insidious nature of it going back in history. what today shows, along with what the fed has been doing, is that they are going to take this seriously. they are going to raise rates to push down inflation. it will slow down the economy. home, auto, loans, things like that. they need to slow down the demand. that is a good thing. that is what they are supposed to do, and they took the field, and they are doing it. they admit they are late, so i don't have to say they are late. they said it themselves. but, they did it. one of the toughest jobs they have is that the american consumer is still in pretty good shape. that makes their job tough.

i'm happy to give you what we see, so far, this month. >> people are still spending and doing well. he doesn't want that to end. from your data, which is the best in the world, tell us. >> he has a task ahead of him. i had to get here a day early, just for you, jim. for the month of july through 25 days, whatever it is. it is up about 10% from last year. the transaction will grow 7%. that means it is growing. what that really means, it is slowing. gas prices went down. a 33% increase. the pricing is coming down, and it is starting to slow down. people are spending on vacations. european transactions are through the roof right now. theme parks. home-improvement. a little more mitigated, but still holding on. bigger than i.t.

people are missing the comparison with i.t., which is critical. we feel good about the american consumer. they are spending. the four month moving average is higher than it was at the end of june. credit card debt was 98 billion before the pandemic. it is still in the high 80s. they still have more room to borrow. then, on top of that, they are earning money. for people who are paying a lot for gas and housing, that is a tricky thing. the big issue ahead of us is rent increases. mortgages are locked in, and we can talk about that, but rent increases are what concerns me. hopefully, the landlords and others may start to say, this is slowing down, we will take it easy. that is the increase that is still ahead. rent resets on the school cycle. as people go into apartments, we want to make sure they can get into those apartments and have a good life. overall, gas seems to be

mitigating. house prices seem to be mitigating. i think it is starting to work, but we have to watch to make sure that rent doesn't kick it back through the roof. >> is there such a thing is good spending about spending? whether it be walmart or chipotle last night, or whether it be visa, quite frankly, the affluent are doing quite well and spending very well. we are beginning to see that divide again in the country that you have spoken endlessly about. it cannot happen. you've been a great uniter of all the different economic classes. i worry, that brian would say, that is bad for the guy trying to buy a car. that is tough for the two income family that are making more than $80,000. what do we say here? >> the good news is, account balances of people, before the pandemic, had about $3000-$5000 in their account. they averaged about $3500 pre- pandemic. those are now averaging $13,000.

by the way, when we look at those people, the cash flow is more stressed now. a little bit more under pressure because of price increases, but it is still positive. small business origination, for us, was up 10% year-over-year. things like that are good news. that is where we have to be careful. the affluent spending is going to drive a lot of economic activity forget, the key for america is to have every american citizen to have a great quality of life. minimum wage, we are up to $22 an hour starting. even broad-based retailers are pushing up to that. benefit coverage. the stimulus was well-placed, especially, because it went to the right people. that will give good staying power. as this thing corrects itself, it gets down to more normalized

growth rate. our team predicted a recession at the end of the year, and they were one of the first to do it. you have a recession, but you only have unemployment at 4%. cannot really happen? even the feds projection on unemployment are lower than they were thinking it would be. we thought the economy was doing fine. i think the question is, if people stay employed, that is the number one, key thing. hopefully, this glide path comes in, and we don't forget the median earning family. give them good benefits. give them good pay. >> also, you have taught me a great deal about how banks work. and, how an initial rate hike is very good for bank shareholders. there is nothing wrong with that. you are the ceo of the bank. i've been recommending your bank because it is the largest depository that will do the best when a rate hike happens. how much can you be expected to make off of a three-quarter move here?

>> what we told people, if you follow the curve at earnings -- we told them that we would be up $900 billion this quarter. then, next quarter, we will wipe them out. but, i think that is our core view. that is on top of -- i think it was several hundred first quarter -- then, 1 billion. we can make more money. what makes us strong is a sheer dollar amount of transactions we have across all of our platforms. whether it is a private bank, a small business, or whether it is the consumers. it is dominated by zero interest, which is always there. we are a mix of deposits, which is very much stronger than our competition. we paid 11 basis points last quarter, which is a parody powerful franchise.

if you look back to the year before, we were supplementing by not going below zero. for our shareholders, this is where they recover some of the value. >> are you tired of hearing, wait a second, this doesn't matter? i just think that is not an understanding of what you have been teaching us about the american consumer. >> two things. one is, in our company, we drive responsible growth. 10 out of the last 11 years, lowest losses on the stress defense test. that's good. the reality is, what we see in delinquencies at the end of june, no uptick in delinquencies. even among the lower fica people, which we have a lower percentage of. delinquencies on cars are lower by a lot. they came down, they sat there. that is the good news. you are seeing some consumer delinquencies and other companies. but, they have different lending practices. overall, and people have to be

careful, it is already reverting back to where it was in 2019. that was way below normal. >> well, look, thank you for coming to our new home. next time we talk, we have to talk some social. i know you will be back. promise me? >> i will come back. >> thank you. brian, congratulations. >> thank you. >> coming up, is this doc built tough enough to anchor your investment in ev's? cramer gets the latest from ford, next.

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what the heck do we do with the auto stocks? over a year now, there has been

too much demand and not enough supply. now, we are finally getting chips as the fed raises interest rates aggressively. needless to say, it has been a big year for the auto group, including ford motor. tonight, ford reported a magnificent quarter, which much better than expected sales. they even raise their dividend by 50%, sending stocks screaming higher in after-hours trading. that is on top of a 5% rally during the day. where is the company when it comes to evs? we spoke with jim farley, the president and ceo of ford motor. take a look. >> jim, i know you believe that you must finish first, and that if you come in second, that means you are first loser. i am looking at these numbers, and you came in first. how did you get both a dividend boost and these awesome adjusted free cash flow

earnings? >> jim, it was a scrappy quarter. i hate to say that in business, but the team fought for every chip. we did a great job mitigating all the uncertainty. i am most proud about two things, the cost, even though we have a lot of inbound costs we can control, we did a great job. the second thing is, a lot of our cash now from the prophets is flowing into cash flow. we had to restructure the operation, and we are through that. it is a good, solid quarter. no drama, but i am happy to say we are in good shape. >> now, jim, you always promised me that it wouldn't be long before you didn't make a vehicle that lost money. i now believe, in an incredibly short time, you make money on everything you build. >> we are now. profitability is great. but, we have one big challenge in front of us. one, big opportunity to totally

transform this company, and that is to make money on these electric vehicles we are investing in. the second cycle of products. we are starting to ship a lot of subscriptions, which we never did before. we have a really bright future, but we have to deliver profitability on our evs. >> now, given the fact that you have this much cash flow, plus the money, and a battery source, this, to me, sounds like this 600,000 ev run rate is not a pipe dream, but a reality. >> it is not a pipe dream. we are down to the number of batteries. we are really excited about the lp. that will help bring down the cost of our evs, because they are less exposed to lithium and nickel prices. that is 14 months away. we've built the factories. the batteries are coming. the vehicles are developed.

we know we have the demand for the vehicle. now, we just have to build them. we are in great shape. >> how did you decide to raise the dividend again? >> you know, we have a lot of confidence, obviously, or we wouldn't of done it if we didn't have confidence in our earning power. that's great, but the most important part of that decision is that we have plenty of cash to fuel our transformation. we are investing $50 billion in our growth business, and we have plenty of cash to fund that, even if we get more headwinds on cost. >> all right, let's say i want an electrified f-150. can i get one as soon as i want? or, is there weight? >> i'm sorry, but you will have to wait two years. it will be christmas and a couple of years. we are totally sold out. we are going from 80 to 150,000 units next year.

we are getting the batteries in, which will make them more affordable. we are totally oversubscribed, so it is our job to scale. >> can i get a mustang? can i get a maverick? can i possibly get a bronco? can i get any of these fords? >> you will have to be patient. i am so sorry. our vehicles are totally out of control, in terms of demand. i've never been in this situation in my life, but it is a good situation. a high-class problem. we are building a new mustang, and i have to tell you, as strong as our lineup is now, we are coming out with a new super duty, which is our cash flow king at ford. that is right around the corner. it's going to get better. of course, we have all of our electric cars coming, and the ones we have are sold out. it is a very unusual situation, but that is why we are working so hard to get the chips. >> in the meantime, commodities have come down. aluminum has come down. steel has come down a little

bit. where are we with chip availability in the commodities? >> look, the chips, who knows? i stopped counting on anyone in the supply chain a while ago. honestly. scrambling is a core competency in our business now. you have labor shortages in the supply chain. there is a lot of cost and pressures, as you said. we are ready. we want to be ready for any headwinds that come our way in the next 12 months, whatever that is. we are seeing commodities ease, but i have to tell you, that does not give me much comfort. we have to execute. that means building product, working with suppliers. and, we have to fix our quality. >> all right. they tell me farley can't build combustion engines, and, at the same time, do evs. nobody can get it done. the only guy who can build evs

on scale is elon musk, as he is fighting twitter. >> look. we've had to make tough choices. no doubt about it. the thing that people don't realize at ford, is that we shrunk our whole business around the most profitable vehicles. we don't really lose money in any regions anymore. china was a bit of a hiccup with the shanghai shutdown. we are near breakeven there. we are in a magic position now, with a brand-new ice lineup that is very profitable. absolutely. we have to make tough choices around capital allocation, and we are leaning into the growth business of going digital with these ev products. a lot of duty cycles, like super duty, you are pulling a fifth wheel in montana. you are not going to buy an

electric vehicle. for those super duty customers, they want an ice super duty. >> absolutely. let me ask you something. you are a race car driver. if you have a big race, do you take a victory lap, or do you start thinking about winning the next race? >> you know, absolutely no victory laps at ford. we are in the first inning of this transformation. it is going to be the biggest thing to happen at ford since the model t. we are happy, but we are not satisfied. we have work to do on quality, scaling our electric vehicles, making 8% on them. we have a lot to do at ford. great quarter, but that is not how we run things at ford. >> you did say, at one time, that it wouldn't matter, that you had unbelievable names. for the longest time, it really didn't matter what you had. other than the f-150, no one seemed to care about what ford

made. it's different now. are people begging you for broncos? are they begging you for the area 51 bronco? >> absolutely. you're right. everyone. everyone in my neighborhood comes up and says, hey, jim, nice to see you. anyways, can you get me a bronco? if my neighbors are doing it, your neighbors are doing it. they all want a car from ford, which is great. the onus is on us to keep that up. we are working on products two or three years from now. they have to be even better than today, and that is our job. >> we will hold you to it. so far, you've done good on everything you've said. jim farley, president and ceo ford. congratulations on a great quarter. >> thank you, jim. coming up, they help small businesses launch into the digital era, but this company might be occupied by problems of their own. cramer finds out what is ailing shopify, next.

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sometimes, a stock it's so beaten down that there is nowhere left to go but up. take shopify, the e-commerce facilitator that was one of the hottest stocks in europe. it collapsed last november from $176, down to the 30s today. shopify will also be letting go of 10% of its workforce. they fell short of expectations along every major line. they even said things would get worse this quarter, before getting better during the holidays. then, what happens? the stock jumped nearly 12%? why?

i think, because the bad news was already baked in. after all, you don't lay off 10% of your employees when things are going well. is this a real bottom, or do we need to worry about another leg down? let's figure that out. i'm talking with carly finkelstein, president of shopify, who joins us now. >> jim, always so great to be on your show. >> it is not in your dna to let people go. it is in your dna to hire, put food on people's table, and pay for their medical bills. these are tough things for you. tell me how it happened, because, i share with you the ambitions of shopify. >> thanks for that. look. i think, 2022 turned out differently than we expected. i still believe that we are in an enviable position. let's talk about what happened here, and talk about the pandemic. during the pandemic, we made a bet that retail spending would

disproportionately favor e commerce at a much higher pace than it had. we expanded the company to meet that future earlier than it arrived, and i think we overshot our prediction. now, we are recalibrating. as you see people shopping in stores again, e kerr myers is trending back to a more normalized growth curve. when you look at physical retail, beyond shopify, we saw it grow 47%, year on year from 266% last year. i think we are still very much uniquely positioned to help merchants succeed. you are seeing brands like gold's ym come onto shopify. we have operational discipline in our dna, and we remain focused on helping merchants. in terms of where we are right now, shopify is 10% of all u.s. sales. it did outpace the rest of the

market in this quarter, and it will continue over the broader market for the rest of the year. it was up 11%, year on year. that represents a three-year tagger of 50%. that is a three-year tagger at 53%. i think our business model has built-in buffers to weather the storm, and we have more than $5 billion in cash on our balance sheet. we are in a good position, but it has been a hard day for us. >> let's say things get a little better next year, at this time. is there something that has changed besides this, because i know you have been able to take losses, absorb losses -- was this going to become a bigger black hole each quarter? otherwise, things are so good. why let anybody go? >> look. the reality is that we bet that e-commerce was going to be a much larger part of the greater retail mix.

we knew that if that actually happened, we would be best positioned. we now have more information and we are recalibrating. the reality is, shopify has been profitable for three years through 2021. now that we account for 10% of u.s. sales, we have a real opportunity here. we are steering the company from a position of strength. focusing on the most important initiatives is what we are doing right now. one of the things i am most proud of is our product uses metric. that is our merchant revenue divided by g mv. that will continue to climb for the rest of the year. not only are more merchants coming to shopify, they are using us for things like capital, payment, shipping, and all these other things as well. i think that is really important. >> harley, i have to be sure this is not related to any sort of downturn in small or medium size business. it is not a worry about what

jay powell is concerned about, which is what we could have if things continue to weaken. this is internal things that needed to be done, not weakness in the consumer or seller? >> look. i think shopify is very much a proxy for small business. the vast majority of businesses on shopify are small businesses and independently owned entrepreneurs. we have outpace the market this quarter, and off-line. that tells you, and suggests that a lot of these small businesses are doing really well. the reality is, independent businesses need to be able to easily and affordably be able to manage their businesses. we are giving them the tools to do so. for example, when the pandemic hit retail, we went to work. we built brand-new point of sale products, both hardware and software. we began to ensure that more merchants could use our

physical retail when things reopened. >> look. i am a huge believer, a user. i think it's going to be terrific. i understand the hard choices you had to make. i think, this time next year, when you and i are talking, your stock will be higher. i want to thank harley finkelstein, the president of shopify. i want to thank you for coming on. >> the future is bright, jim. thank you. >> coming up, what is on your mind, america? give us a call. the lightning round is next.

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>> is time for the lightning round. play the sound. then, the lightning rod is over. are you ready? we will start with jim in georgia. >> hey, jim. >> hit me. >> i am an investors club member. i've got a question about a diversified global food company. the other day, you were saying that you were scared about u.s. companies with international exposure. this one has it. but, it has a nice dividend, and it doubled earlier this year. i am talking about archer daniels midland. >> i say we buy it. let's go to molly in florida.

>> hi, cramer. i want to say that i really love your show. >> thank you, molly. >> and, i am not 18. >> okay. that's very kind. a lot of younger people like the show. what's up? >> i have a question about doctor -- >> it is very expensive. can we go to frank in texas? >> hello, jim, thank you for taking my call. i am an avid club member. >> the club. we have some good stuff coming out tonight. how can i help? >> my question is, lithium. do you have any recommendations for investing in this? >> the one i like is alvomar,

which is a real company. i would rather buy tesla, which buys a lot of lithium. >> congratulations on the move to the new york stock exchange. >> thank you. i love it here. what's up? >> buy or hold on terry and mettler? >> it has just not made a lot of money for shareholders. that is the conclusion of the lightning round >> coming up, to get the real skinny on silicon valley, listen closely to the cfo. cramer explains his earnings app. thinkors mobile- -so i can finish analyzing the risk on this position.

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let me open your eyes to the way this thing really works. last night, it was pure chaos in alphabet and microsoft after they reported. the numbers seem to be weaker than expected. they were down big. that's nuts. microsoft is a $2 trillion company.

these are some of the largest businesses on earth. they are very well-run, and for the most part, the shareholders know what they're doing. sure enough, both stocks came roaring back. anyone who sold in the pullback, now, justifiably, feels like an idiot. what should've happened? first, you need to know that with outfits like microsoft and alphabet, their valuations tend to be set, not by the ceos, but by the cfos. the ceo gives you a broad overview, talking about some excitement involving customers or the macro. let's call it a 30,000 foot overview. but, the cfos tell you the number. yes, the chief financial officers are the ones with the goods, the ones that matter. last night, despite the headline numbers, things are much better than you think. the forecast was truly superb. she explained how when you account for a depreciation issue, a forecast even bigger

than the analyst thought, so when you say she should raise numbers, you have to. you have to listen. how about the alphabet ceo? ruth porter is one of the smartest people i've come across in corporate america. even if you thought the numbers were misses, she explained everything, and i think google remains the absolute best vehicle for advertising for anything travel or leisure. these happen to be the best markets in the whole wide world right now. the headlines for these two companies almost never tell you the whole story. you have to wait until the cfos start speaking on the conference call. they usually don't speak until later. if you understand this dynamic, you could have cleaned up last night, but if you took your cue from the headlines, you missed a terrific move.

conference call chaos is not unusual, which is why it drives me crazy. so many money managers can't seem to adjust. these really big companies like amel, apple, amazon, why does it happen? i'm convinced there is a generation of traders out there who think they can read a quick headline script and actually make money. that may have been the case two or three decades ago, but that is no longer the case. companies like google and microsoft have gotten so big and complicated, the headline writers are simply clueless. they have to publish something, even if it is misleading, to compete against the other services. and, they have to be first, even if they haven't heard from the cfo yet. both microsoft and google father stocks rally. you are not a headline writer. you can afford to wait for the cfo before you pull the trigger. that is the smart way to try to make money in this business. once you hear from the cfo, you

don't know anything. in this business, ignorance is bliss. i like to say, there is always a bull market somewhere. i am jim cramer . see you . . rrow the news with shepard smith starts now. interest rates, raised again. the fed gives a new outlook on inflation and the risk of recession. >> we need a period of growth below potential. gun manufacturers on capitol hill, after the series of mass killings. >> these murders are local problems that have to be solved locally. >> his push for lawmakers to focus on the type of