interesting. >> surprise dan pick. an airline. guy? >> how about that? >> we dig michael. he's bringing the energy. >> welcome back any time. >> any time. >> yeah. >> nasdaq making all-time highs, melms. >> thankfos r watching "fast money," "mad money" with jim cramer starts right now. right . my mission is simple. to make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere, and i promise to help you find it. "mad money" starts now. hey, i'm cramer. welcome to "mad money." welcome to cramerica. other people want to make friends. i'm just trying to make you a little money. my job is not just to entertain, it's also to educate and teach you how this business works. so call me at 1-800-743-cnbc. tweet me @jimcramer. people keep making a ton of mistakes here.

when they should really just be sitting on their hands. sometimes the best you can do is absolutely nothing. instead they're acting on every possible fantasy nightmare. >> sell sell sell -- >> buy buy buy! >> not only is it tedious and foolhardy it's very expensive for anyone who's running with this non-strategy. you can see the averages which started out like a house on fire today and then just fizzled and in the end the dow lost 229 points, the s&p shed .3% and the nasdaq inched up .25% as huge bets made at the open simply didn't pan out. what are these mistakes that might be playing havoc with your money? let's go over the four big mistakes i'm seeing pretty much every day of late. front and center the belief the federal reserve under jay powell will somehow screw up the transition as they shift from tightening to stop inflation to easing to combat recession. at this point in powell's tenure i find it insane he never seems to get the benefit of the doubt. look, yes, he started raising rates a little too late in 2022.

it's hard to blame him for that. powell didn't want to hit the brakes on the economy when we were still dealing with a health care emergency. which is why he didn't tight nen 2021. who would have thought covid would run its course so quickly? who would imagine the biden administration would be able to pass generous spending packages right when we stopped needing them pacing an inflationary run? since then powell's done pretty much everything right. once rolling he raised rates with alacrity. our country had some of the worst inflation in recent history. the rate hikes one after another didn't manage to tamp inflation. everything that could be controlled by the fed is going the right way. prices have come down all over the place although many are still elevated versus 2019 levels but i don't think anyone surveying the situation could honestly contend that powell's going in the wrong direction. no matter. every time we get a strong economic number one that shows a lot of hiring or firming up of wages people panic, they just panic and presume that the fed can't cut rates this much.

they assume inflation's still alive and well so it's too early to start easing. however, when we get some weak data like some soft jobs opening or economic survey then these same people claim that the fed's behind the curve, that powell needs to cut by 50 basis points, not 25, because he's so far behind the 8 ball. now, keep in mind that tomorrow at 8:30 a.m. we get the most important arbiter of inflation or recession. that's when we find out the august non-farm payroll report. hopefully some of this craziness will be resolved. what's most important, though, is that if you have faith in jay powell as i do you know he'll give us a 25 basis point cut if that's what's needed and if the economy gets weak he'll give us a 50 basis point cut. that will be on the table. why the heck is that so hard to understand? people keep freaking out about things that simply don't be a problem given that we've got a competent central bank. they've done that during the run-up to every fed easing cycle i can recall. you always get these tense moments like right now, filled with wild swings full of sound

and fury and of course yes, signifying nothing. all you need to knee is we're at the beginning of an easing cycle. which means you need to own stocks here because this tends to be one of the best moments for the market. so stop fretting about 25 versus 50 or for these little machinations that we're seeing up and down and just accept that powell's got a game plan and if it's any good it's probably a terrific one. second we've gone a world from where artificial intelligence and ai can solve anything to where ai's treated as a robust sham. [ boos ] of course at its apex ai was supposed to make organizations much more efficient, improve gross margins magically and create concoctions or inventions vastly better than the status quo. sadly, we don't see much of anything tangible other than competing chatbots, pretty much rifle inquiry systems that can generate information in sentence form including hallucinations. we're told that the whole thing's a canard and this

reality has slapped true believers like me in the face. now, look, i think that's just plain wrong. it's way too early to view ai as a waste. >> they know nothing! >> we're only a couple of years into finding use cases for heaven's sake. we just got word that accelerated computing and generative ai have led to a breakthrough in cancer diagnosis that can be very important. it's a huge thing. but the hype for what this technology could mean for health care seems to illustrate that we aren't seeing a revolution. we're just kind of seeing a kind of faster evolution. third, we're all over the map when it comes to the health of the consumer. now, some would say that given the low unemployment rate the best gauge of consumer health at least historically we cannot and should not think that the consumer's in trouble and hey, as long as there are jobs there will be opportunity. whether it be in overtime wages or job op. this is the commentary, though, from dallas tree and dollar general. wow. two horrible performers. they paint a picture of cash-strapped consumer, something that they should know, right? given their clientele. at the same time, though,

walmart's been putting up incredible numbers that indicate they've been taking share from the dollar stores. as long as everything was under a dollar seemed like a pretty compelling value proposition to shop at these dollar stores and their ilk. not a lot of sticker shock at the register. but in recent years they've been forced to raise many prices above a dollar thanks to inflation. meanwhile, walmart recently cut many prices. now pound for pound their products tend to be cheaper, maybe ivan lot cheaper than you find at family dollar or dollar general. of course when the dollar store slashed their estimates it was untenable for them to just say you know what, here's what's wrong, walmart's crushing us. it's better, don't you think, just to blame the macro and the health of the consumer? fourth and final, in this environment we have to stop being aggressive about, well, anything. this morning the mag seven no doubt juiced by double and triple etfs all opened up gigantically. there's no follow-through. so when these stocks soar at the opening there are no buyers after the initial move, so then the stocks plummet faster than they can rally. once you understand that, it's

unacceptable to reach for a stock you, unacceptable, that run in the morning. you'll save a lot of money by following a simple rule. these mistakes will come from a moment in time where we have to watch the economy deteriorate in order to get the fed to bless us with rate cuts. at end of the day you can't expect the fed to come to the rescue until we get some real weakness and that's what we're starting to see. so the bottom lien, right now we're just playing the waiting game with all extremes off the table. it's football season. i'm certainly not spelling r-e-l-a-x like the new york jets quarterback late of green bay. but i am saying sometimes it's okay to sit on your hands, watch some football. hey, even read a book. anything other than trading. at least until we get more clarity from the data and from the fed. let's start with questions. let's go to john in ohio. john. >> caller: hi, jim. john in cleveland. jim, thanks so much for your help navigating this market. i have a cyclical stock here, steel industry, steel prices have bottomed. you mentioned the ceo has a bid

out for u.s. steel. he has great union relations. jim-s cleveland cliffs a buy at current price levels? >> this is -- lorenzo, on earlier this evening. i will say this about lorenzo. he is fighting the good fight. the problem is that right now he's up against declining steel prices and a hideous amount of steel being dumped through mexico from china in our country. so what i would say is while i like it i know even though it's down 43% it would not surprise me to see the stock at $10. it's currently at 11. let's go to ralph in new york. ralph. >> caller: hey, jim, how are youing do, man? big boo-yah to you. >> right back at you. what's up? >> caller: i have a question on nu. what your thoughts are on it? i know it's low right now. how high you think it might be going. solid place, solid company, and earnings are coming out november. want to jump on the train before the train starts. >> look, to me when i look at

this digital banking which i like, but it's been rewarded even though -- it's mildly profitable. been rewarded with a 72% increase. i think i'd rather wait for this stock to cool off. we have an uncertain market. let's not jump to the conclusion we have to buy it right here. how about joey in florida? >> caller: hey, mr. cramer. i'm a huge fan. >> thank you. >> caller: i wanted to ask you with all these changes happening with the coverage of prescription drugs and medicare and medicare insurance plan b a key driver for united health group revenue, what your thoughts on united health group's stock? are you bullish or bearish, mr. cramer? >> i am bullish on unh. last year i got bullish on humana. that was a mistake. you always have to go with best of breed. i will not make that mistake again. this stock is very close to its high. could come in but i've got to tell you it is best of breed and it is a winner. look, sometimes it's okay to take a breather when it comes to the market. read a book. watch some football on peacock. anything but trading endlessly. now, on "mad money" tonight what we have as the nfl season kicks off so does our fantasy stock draft.

i do it every year. unveiling my picks and how i think the positions for success. can caterpillar continue to climb higher since its report last month? i'm getting a long-term read with the ceo. and people keep asking me why i am not right now pounding the table on nvidia now that the stock has pulled back. i'll reveal my reason. so stay with cramer. >> announcer: don't miss a second of "mad money." follow @jimcramer on x. have a question? tweet cramer. hashtag madmentions. send jim aechbln e-mail at madmoney@cnbc.com. or give us a call. 1-800-743-cnbc. miss something? head to madmoney.cnbc.com.

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tonight the nfl season kicks off when the defending super bowl champion kansas city chiefs take on the ravens at 8:20 p.m. eastern. you can watch the game on nbc or stream it on peacock. your call. tonight, though, i want to get you into the nfl spirit with some fantasy stock football. now, look, i love comparing real teams and real players to my favorite stocks. these are two great tastes that taste great together. more importantly it gives me another angle. i've got to help teach you about the market any way i can. because picking stocks for your portfolio has a lot in common with drafting players for your fantasy football team. 55 million people do it. different positions play different roles for your fantasy team. just like different stocks fill different roles in your portfolio. if you look at the 11 stocks i highlighted when we did this a year ago they're now up an average of 38%, trouncing the s&p 500, up 23% during the same year. well, first, we always start

with the quarterback. with a quarterback in fantasy what you want is steady production, solid performance, week in and week out. that's why i've long said that apple, the original own it don't trade it stock, is like the quarterback of your portfolio. last year i said patrick mahomes of the chiefs was the apple of the nfl and that analogy worked pretty darn well as he led the chiefs to their third super bowl victory in four years. mahomes ended up being only the eighth best fantasy quarterback last season while apple was the fifth best performer in the magnificent seven although i'll take either one of these. we don't draft a quarterback first but we care about a quarterback. first we go with either running back or wide receiver. this season while i'm still keeping apple as a quarterback i want a different nfl analog, which is why i am going with josh allen from the buffalo bills. who is the best performing

quarterback in fantasy football last year. he can really run. apple's versatile too. i'm aplenty bullish on the new iphone cycle launching next monday but i also love apple for its recurring revenue stream. allen's playing with new defensive coordinator joe brady who was promoted from within the bills organization just as apple will have a new cfo promoted from within the company. do you know allen's the only nfl quarterback who's played every regular season game for the past four years? isn't that incredible? just as apple seems to perform better year after year regardless of what challenges it's up against including iphone cycles. now let's talk running backs. the workhorses of your fantasy team. you want steady production from your running backs including lots of touchdowns no matter what defense you're playing against. but the position's also inherently cyclical in nature because running backs get hurt all the time which means even the best of them can have down years. kind of like boom and bust smokestack stocks. just as many industrials have tried to embrace long-term secular themes like caterpillar which is on later this evening. the business of rung back has

lift shifted to catching passes. pretty amazing. if we're talk about industrials, ge aerospace is one of the best stories out there. after the break-up of the old general electric was completed earlier this year it's the second best performing industrial in the s&p 500 for 2024. let's call ge aerospace the christian mccaffrey of this stock market. mccaffrey's had major injuries in the past just as ge had major issues before current ceo larry culp took over and started to turn things around. but mccaffrey was far and way the best running back in football last year. huge gap between him and the second best back, brees hall, just as ge aerospace has separated itself from the industrial pack. the clincher ge's focused onna on aerospace, mccav fris a great pass catcher. they're both terrific at dealing with flying objects. running backs are important. i like saquon with barkley now playing for the philadelphia eagles. i see him as the 3m of fantasy football. both are basically reclamation

projects. 3m has been held become by major litigation, subpar management. barkley's been held back by injuries akin to 3m's forever chemicals litigation and playing on the dysfunctional new york giants. now 3m's settled most of its legal issues, spun out its health care business and brought in a new ceo, bill brown, i'm hoping for similar improvements for barkley this year now that he's playing for the eagles friday night, brazil against the pack. finally cummins, the engine maker with major exposure to the data center. reminds me of the detroit lions running back junior gibbs. the knock on cummins is it's an engine maker during a freight recession and truck orders are weak right now. the knock on gibbs is he has to share the workload with fellow lions running back david montgomery. i think concerns are overblown. backup power units for data centers. we hear him talk about that when they were on recently. gibbs is thriving because he's a much better pass catcher than montgomery. how about the wide receiver position?

for me wide receivers are akin to turbocharged growth stocks. they can be insanely volatile. when they work they continued to deliver incredible grains. nvidia, i compared it to justin jefferson for the vikings but then he got hurt and missed nearly half of the season. meanwhile nvidia was an unstoppable winner. i'm changing course. nvidia's going to be the tyreek hill of the stock market. hill second most fantasy points at the wide receiver position last year nvidia speaks for itself yet both have their doubters. nvidia's now pulled back hard from its highs this summer as people worry about the durability of ai demand while hill, he's supposed to have a hand injury. guess what, i think they'll both do great, even if there might be some near-term turbulence. what else? how about this vistra? the stock soared thanks to the company's nuclear exposure and the realization we desperately more electricity in this country. i call vistra the ceedee lamb of

the stock market. vistra's in dallas just like lamb who plays for the cowboys who i almost drafted. and it's one of the few stocks giving nvidia a run for its money. it's a stock i looked at for my charitable trust, up almost 100% year to date. finally, how about a new one? i know it's going to be a shocker here. how about reddit? it's been a phenomenal stock. let's call reddit the marvin harrison jr. of the market. harrison was the first wide receiver taken in the nfl draft this year going fourth overall to the arizona cardinals. second or third round bic in most fantasy drafts, very high for a rookie receiver, by the way. both names should be on your radar. bottom line i've given you your quarterback, running backs and a few wide receivers. stick around after the break and we'll fill out both your portfolio and your fantasy football roster. "mad money" is back after the break. coming up, many all prostocks are still on the board. keep it here for part two of cramer's fantasy stock picks.

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so far we've covered the quarterback, running back and wide receiver positions. now it's time to fill out the rest of the roster. first off we need a tight end, right? which is kind of a hybrid position, part blocker part receiver. i think of them as similar to the best health care plays because had health care doesn't need a strong economy to do well but it can also give you plenty of growth when you identify the right ones. last year i picked eli lilly for the tight end and it was up more than 60%. i still like lilly which is why we still tone for the charitable trust. but in the interest of keeping things fresh let me give you a new idea. hca health care. that's the big hospital chain. hca's been making a mint in the major uptick in patients coming in for non-urgent procedures. incredibly do you know there's still a huge backlog of people who postponed going to the hospital doorg the pan pandemic? hca reminds me of detroit lions tight end sam laporta, the first international pick of the skee-daddies, my fantasy team in tuesday night's draft. yes i was on autopilot for the

first one. laporta burst on the scene with an incredible rookie campaign last year, nearly 00 yards and a whopping ten touchdowns. no other tight end had more than six. wow. that's how he ended up as the tight end last season even outperforming taylor smith's boyfriend. [ rimshot ] but both laporta and hca still somehow feel very undervalued. despite hca being up 47% year to date it still sells for less than 18 times price to earnings. haporta isn't a household name despite a huge first season. two good options with high floors and lots of upside. ceiling. the final offensive position on most fantasy football rosters is the flex spot. the concept of fantasy football which can be filled with a rung back wide receiver and tight end but the goal for the flex spot is simple, score as many points as you can however you can. that's why for the flex spot in your portfolio i'm leaning toward a real estate investment trust. the reason it's become one of

the best prornling group since the fed more or less confirmed rate cuts are coming this fall because they tend to have big dividend yields and those rates get more traskt as rates come down. but it can give you growth on top of income which brings me to my pick for flex. simon property group. which ends a ton of high-end mall properties and has been a phenomenal performer for the last couple years. simon's based in indianapolis. let's just make it easy. let's talk about michael pittman, the star receiver for the indianapolis colts. pittman's one of the most heavily targeted receivers in the nfl, with over 150 targets this year, close to 10 per game. because of that he gets a lot of catches. he had 109 last year. that's the fifth best in the nfl. that gives your fantasy team a strong baseline in points just as simon properties dividend gives you a solid return with a 5% yield and that's before even accounting for any gains in the stock. the knock on pittman is he hasn't had as many tchts f touchdowns as the other receivers. but that's simplistic thinking. much like the widespread widea

think the colts haven't had a good quarterback since pittman joined the team. but their first-round draft skpik a player of the skee-daddies, anthony richardson is back at quarterback after an injury ended his previous season after just four games. i'm betting that's good for pittman just as the rate cuts are good news for simon property group. next we need a defense. in fantasy football you want a defense with consistent quality because you lose points if your team gives up too many touchdowns. that also gives you upside in sacks and turnovers. last year the dallas cowboys had the best defense. it was only fourth best in points allowed but they made up for it by scoring seven defensive touchdowns when no other defense had more than five. a lot of people were down on the cowboys defense because defensive coordinator dan quinn who's so smart, he left to become the head coach of the washington commanders but i think they can have a good year because they still have the key players that made last season

happen. if you want the stock market equivalent of the cowboys defense i'd go can kimberly clark the consumer products titan. i'm not just making a joke. [ rimshots ] at the cowboys' expense given kimberly clark deals with diapers and toilet paper. it's a coincidence. like the best nfl defenses it can give you steady production from its yield along with 4% organic growth in the most recent quarter. with rate cuts on the horizon it will be a good year for high yielding consumer staples plays and kimberly clark's among the best of the best, hence the cowboys analogy. cowboys don't get mad at me. i thought your defense was great. i saw you annihilate us eagles when we went down to see you in dallas. finally we'll round out our team way kicker. i like cowboys kicker brandon aubrey. saw him kick a couple 60-yarders. do you know he wasn't a football player until just a couple years ago after playing college soccer? he was a first-round pick in the 2017 major league soccer draft.

after that he decided to pursue a career in software engineering but on the side he started training as a football kicker. after a couple years of training he joined a usfl team that did well and before last season he got signed by the cowboys. it was out of who noh wher. then he went on to be the best kicker in football last year. i think he'll do it again. who's the stock market equivalent of brandon aubrey? given he used to be a software engineer i figured mix it up a little with reality. i say we go with adobe, which is on my mind after three different analysts pushed the stock yesterday. wells fargo even named it a, quo, signature pick. one of the most direct ways to play generative ai. at this point aubrey's kick feels almost automatic. maybe he and adobe are winners. bottom line, look, enjoy the nfl season. it starts tonight at 8:20 on nbc and peacock. the chiefs my adopted team play tonight while the aegils my home team play tomorrow.

if you play fantasy football you probably already drafted so good luck to your team. but if you're an investor it's never too late to pick up some of these high-quality fantasy stock football picks. let's go to stafford in california. stafford. >> caller: hey, jim. how are you doing? >> i am doing well, stafford. how about you? >> caller: i'm doing good. it's hot but i'm good. k.c.'s general stores. i know they had great earnings recently in the last day. >> casey's general is terrific. i liked it. we did a number of takeouts on it and it's really done a terrific, terrific job. let's go to mike in pennsylvania. mike. >> caller: boo-yah, jim, how are you doing? >> i'm doing well, mike, how are you doing? >> caller: hanging tough even though my chip stocks feel like they've been flu a wood chipper. >> it's been very tough last few weeks. >> caller: super micro. in light of the hindenberg report and the 10k filing delay buy sell or hold?

>> i'm not a believer -- i'm not a believer to tell you truth. i thought hindenberg's report was good. i wouldn't have been so enthusiastic about it if it weren't for that filing the company made the next day. i think super micro's good but i do think when you read the hindenberg report they have some work to do to make it so their accounting is more rigorous. and that's what i'm worried about. let's go to daniel in my home state of new jersey. >> caller: boo-yah. 129 years 19 years following everything you do. i'm looking forward to march 14th, 2025, which will be your anniversary. >> wow. you've got to right. how can i help you? >> i was looking at brkb, berkshire hathaway. right now it's showing the williams rsi and mac d are all a sell you but the p/e in the beta all in line with a p/e of 15.2. what's a good time to buy? what would be the strategy to --

>> i think to tell you the truth, danlt, it's the other way. when is it a bad time to buy berkshire? you can buy some tomorrow. i think it's terrific. then you wait till it comes down you'll buy some more. >> in the same way different positions play different roles for your fantasy team different stocks play different roles in your portfolio. as you enjoy the start of the not flfl season you might try to use your fantasy strategy on stocks too. much more "mad money" including my deep dive into the industrials with >> kcaterpillar's top brass. and all your calls rapidfire in tonight's edition of the "lightning round." so stay with cramer. ( ♪♪ ) morgan stanley is partnering with the women's tennis association to remove boundaries...

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about a month ago we got a very strong quarter from caterpillar the world's leading maker of construction and mining equipment synonymous with bigger earth movers, engines. despite posting lighter than expected sales caterpillar had some substantial margin improvements that turned it into a record earnings per share number and sent the stock flying up more than 3% in a single day. since then it's continued to run now up more than 12% for the year agent thanks to the recent sell-off it's down from its april highs. still with the fed poised to start cutting interest rates could the smokestack stock have room to run or maybe it's not a smokestack stock anymore. let's check in with jim umpleby, chairman and ceo of caterpillar. welcome back to "mad money." >> it's great to see you again. >> you said this is going to be a new caterpillar return a lot of mine to shareholders from buybacks, get much more involved in secular trends much less involved with cyclical. is it not possible all this is playing out right now because we

are after a vicious rate cycle. you are still making a ton of money. >> i'm really proud of our team what they achieved in theling second quarter. sales and revenues were down about 4% but we achieved as you mentioned record adjusted profit per share record adjusted operating profit and margeins and produced about 2 1/2 billion dollars of cash in the quarter. one of the things we are benefiting from is the diversity of our end markets and also our strategy for profitable growth. so a lot of people think about caterpillar they think about our machines that are used in construction and mining which of course are very important to us. but we're also involved in lots of other things. and actually our energy and transportation segment was our largest in the second quarter in terms of sales and revenue. >> i think it's important to point out that that and some other divisions are doing well have nothing to do with interest rates. so anybody who would think this is a company that sinks or swims on what the fed does has not discovered the new caterpillar. data centers. no. secular grower. solar turbines, secular grower.

engines secular grower. these all have their own themes that are not related to interest rates. >> it really is exciting. you know, i know on your show you talk a lot about data centers and what generative ai really means to electricity demands in the united states. between 2007 and 2022 electricity demand in the u.s. was about flat. now of course due to data centers it's starting to grow. not only do we sell backup generator sets for data centers and that business is very strong for us, obviously the baseload requirements of those data centers are requiring more power. and just due to the fact that many legacy power plants have been retired over the last few years, more solar and wind have been added to the grid which are intermittent in nature. that really creates an opportunity for us in what we call distributive generation applications. that's smaller increments of power distributed throughout the grid. closer to the kurnlz of the power. and we're really excited about that from a medium and long-term trend perspective. >> there's a moment in the call because of the things you just mentioned, a moment where you

just say look, we talked a lot about our previous calls. the regulatory environment that has been supporting buildouts in norktd america in the old days i would have thought regulatory environment would be negative for you whether it be solar turbine, whether it the idea these big mag seven companies are all about saving energy all this plays into your hands regardless of who's president, regardless of frankly whether rates go to 6 or go to 2. >> again, i think we are benefiting from the diversity of our end markets. certainly the regulatory environment, the bills that have passed over the last few years like the iija certainly is benefiting our construction industry segment. non-residential construction represents about 75% of our c.i. segment. and of course that is dependent upon -- it's been benefiting from the bills that have passed over the last few years. and of course that's less interest rate sensitive. on the residential side in north america that business has also

proved resilient. of course there's a housing shortage in the u.s. so again a lot of moving pieces here. but again, even though the fact that some of our markets are relatively depressed we just turned in record results in the second quarter. >> speaking of depressed markets you told me we can't be dependent upon china, that that just cannot be the case, have to be dependent upon around the world, not one country. when you took over i always felt that if china's gdp was up cat would do well. the correlation really doesn't hold anymore, does it? >> we certainly highly value our customers in china, our employees there. but that market has been depressed for us the last couple of years and that market for us is primarily hydraulic excavators above ten ton. it has been depressed. but again, because of the diversity of our end markets the other things that we're in we're still able to turn in record results in the second quarter. >> i want to drill down just a little bit here on the data center. there has been a belief ever since nvidia reported just ten days ago that the data center thesis may be one time only, that they were going to build

them and once they're done that will be it. your order book might say otherwise, doesn't it? >> well, i think it's important to remember that it's not just a u.s. phenomenon. we're seeing data center demand globally. and so this is not something that again is just in one geographic area and it's not just with one customer as well. we're seeing a lot of demand when of course the big hyperscalers but also smaller customers and companies frankly that most u.s. investors aren't aware of. companies around the world. so again, we believe that this trend certainly has legs and we're just very well positioned to take advantage of it. we're a bit uniquely positioned in that we both build reciprocating engine generator sets and gas turbine generator sets and both our gas turbines and our recip engines can burn a whole variety of fuels. natural gas, hydrogen, biofuels. we're well positioned to benefit from the secular trend. >> how about the electric big trucks with valet?

how's that going? >> we're certainly working hard to support our customers in the energy transition. a lot of our large mining customers are working very hard to reduce their scope one and scope two emissions. so we are in fact a developing battery electric trucks to help them with that transition. and just another thought about the energy transition. you know, there's a lot of talk, and i know you've had a lot of guests on your show talk about electric vehicles. there's a lot of debate about how quickly evs will take over from internal combustion engine automobiles but i think everyone will agree there will be more evs on the road ten years from now than there are today. and of course that requires more commodities to be produced. our customers, our mining customers use our products to produce the commodities, to produce copper and other minerals to allow electric vehicles to go on the road. just the whole trend around electrification whether it's automobiles or other products as well we think benefits our mining business over time. >> i think it's also important to point out, jim, when i read through around the world china not so good, europe not good, i

mean, other than brazil and united states there really didn't seem to be anything that's really growing. what would happen if europe caught fire here? what would it mean for you? >> well, again, europe is relatively slow cue due to economic conditions there. but there are some bright spots. middle east construction is strong. that was not enough to compensate for europe africa and the middle east. but again, a number of our businesses the markets are relatively weak wear still doing very well. if in fact there would be an improvement in europe, china or some other countries obviously it would only benefit us. >> look, i think it's -- some people would argue that you're doing this enough let's say with just a couple of pistons going. i wonder what will happen when it starts going eight. i want to thank jim umpleby, chairman and ceo of caterpillar. great job, jim. >> great do see you, jim. thank you. >> "mad money's" back after the break. coming up, hit with us your best shot. an electrified fast-fire "lightning round."

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it is time. it's time for the "lightning round" on cramer's "mad money." say the name of the stock, buy buy buy, sell sell sell -- my staff prepares the graphics on the fly. we play until this sound and then the "lightning round" is over. are you ready skee-daddy? time for the "lightning round" on cramer's "mad money." start with dennis in michigan. dennis. >> caller: jim, how are you doing? >> i am doing well, dennis. how are you? >> caller: i'm doing great, thanks. thanks to all you do and kudos to your excellent staff as well.

>> they are fabulous. thank you. thank you very much. >> caller: club member here. and looking for a dividend play here. monthly dividend income play. i was wondering your thoughts on epr properties. >> epr's been too rocky for me. there are times that are good right now it's had a good move and times not so good if you want monthly you know the one i've been sucking, realty income. i would buy some and wait for it to come down because it would depend on where interest rates are. sam in new york. >> caller: how's it going? >> not bad, sam, how about you? >> caller: good, good. i'd like to hear more about carnival corporation. >> carnival is not the one i like right now. it is royal. royal caribbean has the best systems right now. it has the best numbers, the one you want, not carnival. let's go to greg in new jersey. greg. >> caller: hey, jim. how are you doing? i'm calling you from flyers country here. i wanted to know if whirlpool,

whr, is an -- >> too inconsistent, my friend. too inconsistent. they don't get my buy with that level of inconsistency. i won't tolerate it. i suggest you do stanley black & decker. that's the one my trust owns. they're better operators. wayne in ohio. wayne. >> caller: hey, jim. boo-yah. thanks for -- >> of course. >> caller: love your work. wanted to learn from the master. wondering what your thoughts are on a 125-year-old company with a new ceo, the timkin company in north canton. tkr. >> i am sad to say that i have not kept up with it the way i should have because we did visit tkr. i will tell you this. i favored nucor but i have not been aggressively recommending any of the steel companies because rates are coming down. and don't forget, we do have cleveland cliffs down there at 11. let's go to harvey in florida. harvey. >> caller: yes, sir. thank you for the opportunity. i'm a first-time caller, but i was a cramer and kudlow follower

for years. >> thank you. >> caller: and i'm a two-year member of the club. the accolades you get are really deserved by you. and i would like to mention just one that's over six years, it's a belated boo-yah. and it came about in 2018 when you were in lewisburg, pennsylvania at bucknell university. and you did the commencement speech for their graduation that year. and i've listened to that several times and i really think that that was tremendous. awesome. you had a lot of fire in it. >> thank you. that was about getting -- that was about -- well, losing your job. it was about getting rejected by an incredible number of newspapers. about living in your car. and about being able to triumph over anything in this great country. and i thank you for watching. how can i help you? >> caller: my stock is dexcom. >> you know, harvey, i did not really care for that last

quarter or the explanation of why things have slowed. i think they're in the penalty box. i vastly favor the stock of -- i think abbott's better. better machines, better systems. and let's take one more. let's go to joe in new jersey. joe. >> caller: hello, mr. cramer. thank you for taking my call and for helping me obtain a diversified portfolio. >> okay. >> caller: with a nice dividend and a good p/e it's spartan nash. >> we had them on i really liked them. i like that dividend. exactly what you say i say. and that ladies and gentlemen is the conclusion of the "lightning round"! >> announcer: the "lightning round" is sponsored by charles schwab.

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people keep asking me why

i'm not pounding the table on nvidia now it's pulled back from 140 to 107. the quarter wasn't bad at all. added 50 billion to the buyback on top of the $7.5 billion remaining in their previous repurchase authorization contrary to what we heard on tuesday nvidia didn't even receive a subpoena from the justice department on anti-fruft grounds. that was totally bogus. so how come i'm not telling you to back up the truck and load up on nvidia? >> buy buy buy! >> i say hold on a second. it's no longer a play on just ai or semiconductors themselves. no, nvidia's become a battleground. a battleground of volatility. bets are placed on its direction every darn day. it's become more of a gross domestic product play than a play on the company's cutting edge technology. those are tough places to be. take this morning. i blanched when i saw a piece by bank of america about nvidia entitled "compelling growth and a compelling valuation." the gist, buy the weakness caused by near-term headwinds like gross margin pressure, its

chip platform known as blackwell and perception competition's rising while the markets soften. let me give you a different view. first there's an overwhelming view on wall street that unlike the other magnificent seven nvidia simply doesn't belong with the rest. why? well, it's been too much too soon. the company relying on just a handful of customers and once they fill up on chips those customers are done. they stiay it shouldn't be a tr let alone 2 1/2 trillionaire. i say it should be a $200 billion company. on tuesday jpmorgan's michael semblis, someone i regard as the foremost strategist on wall street, issued a very skeptical piece on how nvidia's strength is like the boom and bust in fiber buildouts in the '90s something that led to a collapse of epic proportions. after that last quarter i think that view has gained prominence. nobody's seeing the emperor has no clothes. it's more like they're saying the emperor doesn't have all the

clothes we thought. but it's only matched by the pure panic that the public feels about this stock. i think most individual investors never understood what this company does aside from trouncing the estimates and sending the stock into the stratosphere. it doesn't matter to this cohort that nvidia had a supply problem. they can't make enough of their sold out product. not a demand problem. this group of traders masquerading as investors simply don't understand how hard it is to make a chip like blackwell, how many you need to throw away before it's perfect. when you set out to make a bunch of high-end chips only a certain percentage of them are flawless enough to bring to market. it's called the yield. and it takes time to maximize the efficiency of the production process. that's lost on these people entirely. basically you've got a legion of traders who own nvidia simply because it was going up and i don't want to pound the table on this stock until those particular summer soldiers and sunshine patriots, thank you thomas payne, finish selling.

i don't believe the bear thesis that the stock doesn't deserve to trade at such elevated levels. i don't believe it's hopelessly overvalued. i simply recognize that many of your fellow shareholders bought nvidia with no real conviction and the stock likely won't find a bottom until they are all washed out. the stock currently at $107 and they might not throw in the towel until it trades down in the 90s where it dipped to -- remember when the yen carry trade imploded at the beginning of august that's where it went to. we know the legendary larry williams told us on an off the charts segment that nvidia could be weak until mid to late october. that's based on the analysis of historical trading patterns. oh, geez, that's a long time. but it might take that long to complete the shakeout. i'm just waiting for that. i know that those reasons are not at all substantive. they're not what you wanted to hear. then again nvidia's not trading on substance. the stock's become a play thing, a football. it's not acting like a piece of publicly traded company. i think it just can't settle until the weak hands clear out and the shareholder base returns to what it used to be, hardcore

semiconductor believers who think that ai is for real and nvidia's got a fabulous multiyear growth story. yes, in that sense the bank of america piece is dead right. i just think they're way too early with the timing. i like to say there's always a bull market somewhere and i promise to try to find it just for you right here on "mad money." i'm jim cramer. see you tomorrow. let's fill your bank with a lot of cash. you're a wolf in sheep's clothing. make me an offer. 50%. you came here too early, and you asked too much. you want to lose $1.4 million? give it to me. that is so disrespectful. this is wrong. that's insane. could you shut up? did not see that one coming. ♪♪ narrator: first into the tank is a giant business based on a childhood favorite. ♪♪