carter? >> i think for paid rights, by anti lte. >> t l t. and guy, bring us home. >> your 60. >> thanks for watching moore 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'm cramer. my job is not to just entertain you but teach you and explain how things like this happen. the war between israel and hamas almost one week old has

entered a new phase where israel is telling the more than 1 million gaza strip residents to leave within 24 hours. we have nothing positive that can possibly happen, so why not sit on the sidelines for the weekend and put your money back to work on monday. but we are investing in this show. and that's why many of the standout earnings reports got where they should be. as fears of a conflict spun out of control the stocks pulled back from the morning high. and in the end the ow finished up with 39 points in the s&p lost 5%. and the market is really smoking. up 326 points. the hardest stocks, taking sizable hits, it were so easy to sell to get back into on monday let's go to the game plan. next week is a pivotal period.

everything will be overshadowed by what happens in gaza come up but this is still an important week. starting with charles schwab. people are concerned about its balance sheet. i think those fears are weight overdone, wall street disagrees with me. maybe we can find out why. tuesday, starting with bank of america. if it is anywhere near as good as wells fargo and j.p. morgan, i think goldman sachs should have excellent order, still in exposer mode. not keeping with the company that wants to become the key composite tori of wealthy people of the world. we know that our government is committed to helping israel, which always seems to be a good news for lockheed martin. i think they can tell an excellent story. we also get earnings from j&j on tuesday morning they have been quiet and i don't think the stock came out with a

serious rally until shareholders have some serious resolution. no one wants to wait for these lawsuits to play out. maybe they have some sort of announcement, that would be something. airlines reports with decidedly mixed moments. and customers seem to be topping out. but the business traveler is trying to return. delta proposed with the incline, and wednesday completes the important bank reports when we hear them for morgan stanley. this has become a horrendous holding. i can't believe it has fallen this low. i think that they are a buy ahead of the quarter as they have a lot of good businesses beyond wealth management. it's a shame what happened to that stock. how about proctor, they've all been trading together and trading down. these gop diabetes and weight loss drugs, i think procter & gamble has come down with them.

nevermind that they are not in the food or beverage business, i think it is a mistaken one more reason why we own proctor and one more reason why we can find gains. this has been acting like a cereal company. and one of the woodchips of our era, modern labs. the theory is that these new weight-loss drugs will reduce obesity, leading to fewer cases of type two diabetes. i think the stock has been overly punished. and it has really lost it, much more in the sparking captain it could be in sales for the product. i'm pretty lonely in my position so i have to be careful. and two of the most important names for the casual stock follower is netflix and tesla. we've been the hearing lots of commentary about each company. netflix has a downgrade today and tesla is all about the desire to cut rice levels where they can still make money but

others can't except for in china. that is not the best position to find yourself in. one of my old favorites, they have captioned a lot of attention lately. there might be more demand for the chipmaking machines down here. the stock could turn out to be pretty cheap even though it hadn't been run. at&t, right now sales about six times earnings, i think that is a perilous situation so i would not touch it. if the stock drops, i would blow it out. when i want to pay close attention to is keycorp. stock yields 7.8%, may be emblematic of the well-run regional banks no one wants to earn. he is a conservative rank and i think it deserves your attention. when union pacific reports thursday morning i will try to heal about the reports, but we have jay powell talking on

thursday and i sure hope he sees some inflation diminution. he will say it is not out of control, we know that. and basically just stay higher longer. but people can be pathetic in their views of market. thursday night we get intuitive is surgical, and i'm concerned about how these could be hammered because of weight loss drugs. many surgeries that doctors use turnout to be somewhat obesity related. for example they do this bariatric surgery and i believe that when people get that through atlas, the injection that is nearly as effective, it had to be a big source of growth and now i hear it's slowing down. everyone is trying to say that commercial real estate will crush the banks. so far, not so fast, that is not right. if you want to know whether there's been a further degradation in office real

estate listen to the reality conference call. it's actually a pretty good company with a handle on the real estate situation, but they like to treat it as a free fire zone. friday is american express day and will most likely give you decent numbers. i know that consumers are getting tapped on that might impact the quarter but this company has so much going for it that stock will be interesting. and we also have slb reporting, the oil service known as slumber j. i hope it didn't cost too much to come up with that slb moniker. thanks to the recent run-up i bet they report a terrific quarter. and here's the bottom line, the war will continue to over shatter earnings season. but if you keep track of these companies the market will eventually embrace the good ones. but keep track of them, it could come in handy. let's go to brent in colorado. >> first of all, thanks for all

the help you give us out here. you know, with though weight loss drugs there's been a lot of focus on things like the snack companies losing market share, that type of thing. but on the other side of the coin, does that weight loss lead to new wardrobes, so levi's , will they benefit in the future, would that be at good investment? >> that is a great question. i actually tweeted to the ceo of levi's, and you are right. just like when people gained too much weight during covid, people are losing a lot of weight with these and they need to redo their wardrobe. levi's will be a winner. i like your thinking. let's go to kristin washington. >> hey, jim. happy friday. thanks for taking my call. i've been looking at starting a position at a financial services company.

i know that trust owns morgan stanley, but what you think about t rowe given its status as a differential aristocrat? >> here is where i come i don't want you to enter the house of pain. i think that is what you will have with t rowe. it's a very good company, i've known it for years but this group is from hades. the war israel will continue to cast a shadow over stocks but i think it will revert to the good stories we will hear from the earning season. more mad money tonight, celebrating a year from the bottom. i will take a look at how the stocks have moved higher. plus jp morgan, wells fargo all reported today. i'm breaking down the banks of what earnings can mean. plus i will reveal what black rocks larry fink proposing and

what it can mean. >> don't miss a second of mad money. have a question, tweet cramer. you can also send him an email . or give us a call at 800-743- cnbc. missed something? had to mad money.cnbc.com.

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you download to your mobile and desktop devices. unlike chrome, the duckduckgo browser has privacy built-in. it comes with a private alternative to google search, which doesn■t spy on your searches, and it blocks cookies and creepy ads. and there's no catch. it's free. we make money from ads, but they don't follow you around. join the millions of people taking back their privacy by downloading duckduckgo on mobile and desktop today. today is the first anniversary of last year's huge market wide bottom. the dow, s&p 500 and nasdaq all made their lows and what a year it has been since then. from the lows they shot up more than 17% and the nasdaq, almost

33%. that is not just the bottom, it is a sir mix a lot bottom. i want to take some time to consider really where we've come from over the past 12 months. we will start with the big picture overview. first let's set the stage, when the market bottomed a year ago it started on october 13th in response to another overheated consumer price index report. wall street got two negative at a time when long-term interest rates darted getting lower, along with the value of the dollar which put pressure on a lot of companies. even though the averages made their intraday lows exactly one year ago, they worry about the rally over those low levels because the fed started signaling that they would be less impressive with rate hikes after one last triple rate hike in november. the fourth triple rate hike in a row. a year ago is when we started to realize that the fed made

real progress tamping down inflation. a lot of people were worried that chief jay powell would obliterate the economy given last year's rate hikes. but for 11 odd months he's been much more measured in his approach. he had four more average base hikes, and then another skip at the last of september. even though wall street has got a lot more concerned over inflation over the last few months we are still more singly over the situation. in october of 2022 was when the recession fears peaked. although they didn't really start going away until the spring. for the first half of the markets rebound nearly everybody assumed we would head for a severe economic slowdown. i never joined the recession

crowd but when we got hit with the banking collapses in march, like silicon valley bank and signature bank, we really eventually got through that. that was when j.p. morgan was able to snap up the extremely troubled republican name. but i think the many bank crisis was positive. of course, the pull back on lending. at a time when everyone wanted to tamp down, the banking industry wound up helping them a great deal. the gains over the past year came over the summer, may through july, as investors gradually threw in the towel on their inevitable recession thesis is and then scrambled the buy stocks. at the end of may there was a lot of consummation about the fact that the s&p was up 7% at that time.

over the next couple of months through the rally, it did broaden and that is when the market really did roar. august and september essentially served as a correction for some of the summer excesses. after we started worrying about recession, inflation started flaring up again. meanwhile, i've been telling you that you need to catch up with short rates for a long time now. the benchmark 10 year treasury went from 3.75% in mid july to just under 4.9%, its highest, last friday morning. then fell back to 4.62. then we are back to worrying about interest rate carnage. in these jesus just keep coming back. so that is where we have come from. but what has worked best during the years since the market bottom, first, obviously tech number one with that fund up

nearly 45% from last year. that is incredible. communications of second, 41%, telecom and media and major media outlets. the strength here is all about the name caps. other than that, what groups have outperformed the s&p 500? i love seeing the cyclical stocks from the industrials and materials performing well. that is a great sign for the economy but these sectors both took it on the chin in august and september. they have had some small bouts this month, worth keeping an eye on. as for the consumer discretionary rally, that has a wide range of performers. have small gains from gaming stocks, along with retail chains. they can be by far the best from 2022. it has come back with a vengeance since the last recent

months. they ground out respectable, mid to high legal digit gains but could not keep pace with the s&p and both groups remained in fluster. when they have to face the entire world with the bottom market equivalents. real estate is up a measly 1%. the consumer staples are down more than 1% after the packaged food stocks and utilities have gone down roughly 4% because they got annihilated by higher interest rates. not only do they look less attractive but they also need to borrow lots of money to keep the machine running and expand on borrowing something way more expensive area that will really make the bottom line. the bottom line itself, that was the 30,000 foot view from the market recovery, from one year ago today. stick around, after the break i

will zoom in on some of the best individual stocks since the woes and see which of them have more juice to keep running. mad money is back after the break. coming up, a friday 13th review of last year's rocket bottom continues. is your portfolio headed to the top? stick with cramer.

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-unnecessary! -go! -unnecessary! -go! -unnecessary! -when you can take this phone, you'll be ready. -make the unnecessary, unnecessary. let your employees do their own payroll. in celebration of the first anniversary of last year's market bottom, we take a look at how it unfolded over the last 12 months. before the break i gave you a high level view of the situation. now let's talk individual stocks the best formers in the s&p 500 since the lowest close of october 12th of last year hurried. video of the 295%

since last year. 295%. no wonder my late dog with named nvidia. over the last 12 months it is striking how hated these stocks were last year. they just pronounced a shortfall in early august of last year then got hit with a ban on the sale of certain high- end chips to china. things looked really ugly heard but then chad gpt debuted. they kicked off the hold generative ai craze. we quickly realized that these technologies are what makes this possible heard we've been out there and we saw it with our own two eyes. and when it landed the only thing that people remembered was that it had $1 million over expectations in the last two quarters. glad we on this one and told

investing club members to own it, not traded. meanwhile while madame meta platform came through last year, we went to the street for supporting the stock. after the first two rounds of layoffs, only byard a quarter of the workforce and this is the year of efficiency. it seems like the company can do no wrong. the digital apps recovery, and most importantly they have an open source code generation model that is one of the most compelling ai applications out there. but when you are dealing with a great company that stumbled you need to think about what could potentially go right if they change the entire narrative. at least that is true for what happened here. and fair isaac, the company

behind fikayo scores. with a stock that is up just 120%, they have written a strong housing market higher. and unless you know the predictive software, it helps companies with decision-making. but it's hard to recommend this one with mortgage rates at almost 8%. in general electric, up 117% over last year. after many years of underperformance, they finally got their act together. they've already spun off g healthcare and they were spinoff the power of existence for next year. and we have a pure plate left over run by the best in the business. the fifth of best name, broad,, this is one of the last appreciated ai winners. and it was recently added to

that trust. going forward, they need to close on their $61 million acquisition, and that should happen at the end of the month and it is growing like mad. next up we have the capital equipment, we have talked about this for a long time. and these are interesting, while the marketing has been bottoming in recent quarters, that has been a b process. so you need to get into the semiconductor equipment stocks when there is still too much inventory. because if you waited you would have missed these incredible moves. seventh place, adobe is up 92%. adobe has introduced whole new ai products like irefly which allows users to edit media with simple english language pop-

ups. and they also started to showcase a lot of the stuff just last week at their adobe event, terrific event. i recommended this one less than a month of ago. and i hope you listened. it is back up to 550. number eight, royal caribbean, it has gained about 9%. this move was all about the travel move. low on money short on time thesis. bookings have been very short. but the other problem is that it can be ridiculously volatile. right now we are in the hated part of the cycle. wall street is just not sure if people keep taking cruises like they did. especially now that we are feeling the pinch from inflation and a possible slowing economy.

cruises represent fund value, a great vacation at a mostly fixed-price. so don't be surprised if bookings hold up better than expected. and i love to see eli lilly make the top 10 list. this is all about moon gyro. that is the diabetes drug that will certainly get approved for weight loss along with a ton of other medications. and they have had flawless execution down the pipeline. and we bought this stock only to be pleasantly surprised. amazing, one home voter they made the top 10. we know that homebuilders remains a strong, much longer than anyone thought. and partly because we've had such an unattainable housing shortage. a percent mortgage rates are

bad for business. but it is hard to get to negative on this. i think there is a natural flaw under them even though others were chattering all day about how bad they are doing and how low they will go. bottom line, those are the 10 best performance since the market bottomed a year ago. some can keep winning and others have lost the race. we are increasingly worried once again about the economy let's go to roy in california. >> hey, jimmy chill. >> chill is in the house. >> i try to be witty here with this all jerry lewis will be called boring, boring. it's not so funny when i'm looking at the stock situation. 217, now down to 185. >> someone has to be held accountable for this.

they can't seem to put these things behind them. if you run the company you have to be back and forth and then rotate. you can be held up, you have to be on the floor. and if that happened i think you would inspire people and make sure these things don't happen. i'm not sure i actually describe what is happening at boeing. >> first-time caller, longtime listener. you know, in our generation oil will never go away. there is one company, that major company and having my doubts about and want your expertise. it has a lot of money to spend but it's taking a bullish

stance on chevron. between the bulls and the bears it is almost split down the middle with a ratio of 1.125 and the dividend is 3.75. 10.3 ratio. every time the market goes down this stock, of all my oils swings down. but delta is just off the charts. >> you've got that right. >> to i hold or sell? >> no, you buy. i know that is contrary to what you just said but it is at 10 times the earnings. it is as good as it gets. i feel quite excited about chevron. after going through these top 10 performers, some have indeed lost, but there are some names on this list that definitely can keep winning and you know that the investing club follows a couple of them. just zoning, and you will do well.

the banks are pairing early gains today. i am breaking down what it means for the overall market, plus, i will reveal what his answer could signal when it comes to your next investment. and then our addition of the lightning round. so stay with cramer. ♪♪ we have great benefits from principal. so i know i'm taken care of. and not just me. but the ones who matter most to me.

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today's earnings season kicked off with the first few big banks, citigroup, j.p. morgan, chase and wells fargo. you know what the alternative was, i like what i saw. i like to focus on the big bank

reports, not just because we own wells fargo but because they can tell us a great deal about the economy and that matters about our worldview of stocks to pick. this is a tricky time for the financial industry. the banks have just been hammered by increased rates and this is something j.p. morgan is very good at helping me understand. in march, although that is more of a problem for the regionals then it is the big ones. we've seen an insanely sharp rally in interest rates going lower since july and we have fresh worries about the state of the consumer. so what did we learn this morning, let's take them one by one. let's start with wells fargo which we know through the travel trust. this just so happens to be the bank stock that reacted most positively with shares of more than 3%. wells fargo did much better this quarter, with that interest income, and even better the earnings surged

thanks to a decline in noninterest expenses. so higher revenue, lower expenses, that is always a good recipe for any bank quarter. how did they pull it off? they increased their allowance for credit losses, primarily office real estate. they are taking much less of a hit from deadbeat or worse than anyone could have expected. and while it came in a bit light it was still up it 9%. tier one economy better than expected. they will have to continue this or they will not have buyback dividends. and since wells fargo's ceo noted that his bank is seeing the impact of the slowing economy with balances declining , he also painted a more structured picture on the u.s.

economy saying that it is continuing to be resilient from the labor market and strength in consumer spending. put it all together they have a modestly better-than-expected quarter. given its legacy, they orchestrated a come back after years of mismanagement. a clean beat would usually allow stock to fly, hence the 3% run. i bet it's got more room to run because charlie sharp has seemingly passed all the dissent decrees that the regime left him. next, the biggest bank in the country, j.p. morgan. very solid top and bottom line beat. everything except the corporate investment banks reported stronger. and the net interest income was what wall street was looking for. 21% when you exclude the first backup acquisition.

there was a lot to like here while corporate investment banking was weak mainly due to sales and trainings. the actual investment bank did better than anticipated. but the truth is that there is not much surprise. numbers from j.p. morgan are always pretty solid. in any given quarter, given the largest bank of america, we are always curious as to what he sees about the economy and the consumer. especially when banks are under the microscope. consumers and businesses generally mean healthy although they are spending down cash excess. listen to this, persistently tight labor markets as well is extremely high company debt levels with the largest deficits ever means they

interest rates rise further from here. it is not what you want to hear but it is the truth. but if they are worried about the state of the country, the bank sure did not show it. they were reserving that very lightly, i thought, credit losses. j.p. morgan reported a loss of 1.83 billion for the quarter, i was shocked at that. also less than half of the $2.9 billion provision for credit losses that they had the previous quarter. this was the main driver for the surprised by the way. it gives you a nice, solid rally. let's talk about citibank. during the first quarter since last month. unremarkable numbers, which is why they finished the day down $.10.

off the $1.23 basis. as her wells fargo and j.p. morgan, more than anticipated loss, and just like j.p. morgan that opt substantially. well citibank core interest income came in light and they give some cautious commentary. but with them taking a major reconstruction, they will not get much credit for anything good because so much is set to change. the restructuring is still the story, not the numbers. i had a couple of major takeaways. crisis, verify that all banks would get upside down, leaving them to not be able to capitalize. but with them going three for three today, no time for those

concerns. but you've got to be concerned about the banks credit quality. that's why the single revelation for the day was the much lower provision for credit losses. if things were truly hitting worse those provisions would be going up, not down. it seems that they got ahead of any part of the economy with large provisions for the quarter. bottom line, between the higher net interest income and lower losses, eve got money of reasons to feel really good about the big banks. let's hope we hear more of the same when we have a bunch of them next week. mad money is back after the break. coming up, cramer takes your calls and the sky is the limit. it's the fast money lightning round, next.

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lightning round is sponsored by charles schwab, your tomorrow. it is time,, and then the lightning round is over. are you ready? we will start with ian in florida. >> hey, jim, miami beach. living in paradise, that's all. >> yeah, yeah. >>, two-time caller and a very happy and festive club member. i want to thank you for all

that you do. so on a recent pullback i got some rounds at $200 a share. what is your thoughts on salesforce quack >> it's ridiculous that stock was down this much. it had an amazing quarter at 2.28. i remain convinced it will have a dynamite 2024. let's go to joe in illinois. >> talking portillo's. >> i went to lunch there with my wife. i thought it was terrific but i did not like the fact that insiders were just blowing out the stock. looks like i was right and we've got to wait for this thing to settle down. i can tell you it is a good buy right now. let's go to trace in california. >> doing very well.

the mid-america apartment community. >> real estate. yields four, i find that not good enough. i need more yield. >> let's go to brooks in north carolina. >> they had out lawsuit of $495 million getting ready to inch into that that security, does that transfer still apply? >> it can call me down to six yield, they have done a very good job. i used to be very article of kelsey warner, i am no longer. let's go over to mitchell and texas. >> i've got a stock for you down tremendously, hasn't been this cheap in like 20 years or so. they have tons of lawsuits they

are dealing with and cash flow to cover. what do you think about 3m? >> this is unbelievable. it just keeps getting hammered. a lot of people feel these forever chemicals will have to keep riding checks. i no longer involved with situations that companies are more like law firms. can't be there. >> jimmy chill, nick in florida, i have a question regarding an embroiled issue with the election and all that is being said about pharmaceutical stocks and the government getting involved. i'm sitting here with my brother and we are wondering about a company that has a forward pe of 13. an attractive yield of 4%. and a recent acquisition adding to their pipeline. what do you think at this particular time before an election about ad v.

>> a can rave about them. honestly i used to really like it. i thought they would come on air. the company is not interested, not my style. i do not play for dinner. if i ask you to come on the show honestly and respectfully, then you have to come on the show. not quite sure what that says. >> love your show. love cnbc. i've been a really big investor with iron mounts i.r.a. . >> i think it is very good. i think they do a very good job. very steady company. let's go to joe in alabama. >> go, phillies.

>> oh my god, so good last night. that was a fun game. >> question for you on empire state realty trust. >> i would ring the register on that. move on to something better. >> calling from nashville. >> i have to get there. >> just want to let you know that you sir are a credit to the community. continue doing what you are doing. very good luck to my beloved india that lays pakistan in the world cup. and really quickly my question is about oracle, stock has been down about 10%. >> i'm telling you, just by

oracle. i have a surprise, from my travel trust, this is a great level to buy at. and that, ladies and gentlemen, is the conclusion of the lightning round. >> lightning round is sponsored by charles schwab. coming up, the world according to larry fink. the black rock ceo gives some wisdom this morning. cramer shares that, next. >> i have to thank you for making us money. >> our world is a better place with you in it.

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it is so easy to be negative in this business. that is certainly how it feels when you listen to most experts who come on the network. judging from this qualified billionaire class, the rich have a different perspective on money. i'm not backsliding, i just hate getting financial advice from billionaires because they rarely if ever have anything remotely positive to say about the market. they are addicted to the word perilous as it this is the most perilous time in history so you

better not by thing to get insanely rich and then slam the door on the rest of us. thanks for nothing. then there is larry fink, the ceo of blackrock area which has over $9 trillion in assets. he is a delight. he is thoughan wise. arguably the smartest person in the business. by the way that is everything you hear about him when you talk to someone who has met him and spent time with him. this morning, talk to larry about the world heard and we asked him why the market has been so strong when everything has been so darn perilous. his answer, to poor. first he said it is not that perilous. surely there are plenty of things going on like though war in ukraine, and israel versus hamas. the larry sees many things that can offset the wartime negativity, at least when it comes to investing. for example people spend a lot of time talking about which companies will be heard by

ozempic another weight loss drugs. shouldn't we focus on how many lives will be prolonged, how many saved? we should treat these anti- obesity drugs the same way we treat anti-alzheimer drugs that will be coming areas as he put it, we make be solving obesity that is a major problem of so many problems and so i'm more optimistic than ever. the effect could be so positive in terms of how we look at life expectancy that we may have to rethink our whole approach of the stocks versus bonds read some will be living longer than average, and you need more equity exposure. i want you to take a listen to something else that larry said this morning. >> i am a hopeful person hurt i believe that in 10 years, 20 years, humanity is in a better position than it is today. with that view i want to own hard asset, i want to own

equities and be a part of this economy. >> larry is a realist and he is very concerned about our country's situation with china and how that will be recalibrated, which creates a great deal of stress. he says the idea that we developed an asymmetrical relationship and china has not lived up to its obligations. he railed that china is still supporting our enemy in russia. and if china was a corporation and dealing with our enemy we would consume elsewhere. right now there is a ton of money going into japan. something i didn't know on and now i need to dig into. he knows that the infrastructure rebuild will be good for our country especially when it's the only way to deal with our gigantic budget deficit. grow our economy out of it. like everyone else at a certain age, i wish my parents were

alive. if they were i could hear my dad say, that larry fink, he is a man of the world. and my mother say, he seems like such a nice guy. both are true, what a godsend. i like to say there is always a market somewhere, and i >> right now, last call. -- at the uphill battle may just be the beginning. pfizer breaking down, the stock tumbling as it issues a warning of a covid vaccine sales. forget driverless taxes, wire next package may come in a robot car. plus, champagne problems. taylor swift frenzy sweeping theaters. [inaudible] will i take myself out of