Transcript
Homes.com Narrator (0:00)
Homes.com knows that when it comes to home shopping, it's never just about the house or condo. It's about the home. And what makes a home is more than just the house or property. It's the location and neighborhood. If you have kids, it's also schools, nearby, parks and transportation options. That's why homes.com goes above and beyond to bring home shoppers the in depth information they need to find the right home. And when I say in depth, I'm talking deep. Each listing features comprehensive information about the neighborhood, complete with a video guide. They also have details about local schools with test scores, state rankings, and student to teacher ratio. They even have an agent directory with the sales history of each agent. So when it comes to finding a home, not just a house, this is everything you need to know, all in one place. Homes.com, we've done your homework.
AT&T Business Wireless Representative (0:48)
Not every sale happens at the register. Before AT&T business Wireless, checking out customers on our mobile POS systems took too long. Basically a staring contest where everyone loses. It's crazy what people will say during an awkward silence. Now transactions are done before the silence takes hold. That means I can focus on the task at hand and make an extra sale or two. Sometimes I do miss the bonding time.
Jim Cramer (Host) (1:12)
Sometimes AT&T business Wireless connecting changes everything.
Jim Cramer (Host) (1:42)
Hey, I'm Kramer. Welcome to a special Mad Money from One Market in San Francisco. Welcome to Cramerica. Other people make friends. I'm just trying to make you some money. My job is not just to entertain, but to educate you. So call me at 1-800-743-CBC. Tweet me imKramer. Time to pardon Jay Powell. The poor guy's not a criminal. He doesn't belong in prison. I know you laugh, but today we learned that the Justice Department has launched a criminal investigation of Powell for something he said in Congress about the renovation of the Federal Reserve headquarters, which is coming in over budget. Of course, Powell says that the president's doing this because the Fed isn't cutting interest rates fast enough. The Just Spartan will never beat that. But I think Powell's got a point. While I'm not a fan of politically motivated prosecutions, at least Trump takes monetary policy seriously. If you're going to play games with the Justice Department, I can think of worse reasons than getting interest rates lower for the American people. If this is such a big deal, though, how come the stock market barely seemed to react? Dow gaining 86 points, S&P advanced 0.16%. Nasdaq climbed 0.26%. Oh it's simple. This is Wall street betting that it's not going to happen. Even some Republican senators are pushing back against the J. Powell prosecution. Besides, what's the point of going after this guy whose term ends in four months? And how often do you go after the customer when it's the contractor that runs over budget? Again, I'm a pal here, but I got to say this about President Trump. Usually when he does something that could terrify the markets, he changes his mind. Wall street freaked out last April when the initial Liberation Department Liberation Day tariff rates were announced. But then most of those tariffs ended up coming in at much, much lower levels. This time, money managers are betting that Trump won't follow through because they think following through would be nuts and very bad for stocks, which we know from post Liberation Day Trump doesn't want to happen. However, I still want a presidential pardon for Jay Powell because as any lawyer will tell you, a grand jury would indict a ham sandwich. You don't want to end up with a situation where the Fed chief actually gets prosecuted because that would end the very idea of Fed independence, or Justice Department independence for that matter. Still, nobody believes just pardon will actually go that far. This isn't the only news about presidential intervention in the economy that the market seems to be ignoring. President Trump has also decided that credit card companies will have to cap rates at 10% for a year. OK, of course Congress would need to pass actual legislation to make that happen, but I'm sure the President will be happy to call in the heads of the banks and try to browbeat them into following his orders. This is another where Wall street just doesn't seem to care because it's too over the top because the bank stocks actually opened up and spent the rest of the day rallying. If we actually cap credit card interest rates at 10%, the real victims would probably be the millions of Americans who no longer be able to borrow money. Some people are bad credit risks and these companies simply won't lend to any of them unless they can get sovereign in interest rates. I don't want to be the bull who cried bear, but you just be mandating a crash if these companies stop lending better simply print a lot of money. Here's the bottom line. The market's a harsh taskmaster. If it thinks you can be outflanked and outsmarted, it's not going to do your bidding. And that's what happened today. The market just doesn't believe Jay Powell prosecuted or the credit card companies will get hit with an interest rate cap. I bet the market's right. Let's take some calls. Let's go to Andy in New York. Andy hi Jim. Andy, what's up for taking my call? My pleasure. Taking my call. I would like your opinion on ticker symbol Shopify. All right. Now, Shopify lately under a little pressure. Look, I think it's wrong. To me, Shopify is a buy and today's actual rally is the right way to go. I go with that rally. Shopify goes higher. Today we saw the market being a harsh taskmaster. If it thinks you can be outsmarted, it's not going to do your bidding. I'm Anthony. Tonight I'm kicking off our coverage of the J.P. morgan Healthcare Conference with conversations with some of the biggest names in the space, including sources with Novgo, Nordisk, Medtronic, Pfizer and Balchan Loan. You're not going to want to miss any of it, so stay with Kramer.