Transcript
Jim Cramer (0:00)
Meet Venu on the NYSE American Symbol Venu Disrupting a multi billion dollar live music industry, Venu owns and operates upscale music venues, outdoor amphitheaters with seven revenue sources, $166 million in assets Luxury suite sales of $77 million in 2024 $200 million expected in 2025 56% year over year Growth venue on the NYSE American.
Homes.com (0:29)
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Jim Cramer (1:22)
My mission is simple, to make you money. I'm here to level the playing field for all investors. Always a bull market somewhere. And I promise to help you find it. Mad Money starts now. Hey, I'm Kramer. Welcome to Mad Money. Welcome to Kramerica. Other people, my friends, I'm just trying to make a little money. My job is not just to entertain, but to educate and teach you. So call me 1-800-743- CNBC. Tweet me. Jim Kramer. Sometimes you have to know when the narrative has shifted, when we have a whole new set of priorities. Right now we'd like to think that in videos, earnings report is all that matters. And that's true for tech, certainly. After the bell, Nvidia delivered just a terrific set of numbers. But we must admit to a new pattern that can even transcend the likes of Nvidia. As we saw today when the market soared in the morning, full head of steam for virtually every stock until the market crashed into a brick retaining wall. Averages reversing hard. Dow finishing down 188 points. SB rising 0.1%. Nasdaq advancing point to 6%. It was up so much more than that. The brick wall. The President of the United States. Yep, we were flying high. Midway through the high bank oval When President Trump started talking in a televised cabinet meeting. And it didn't take long for him to be to talk about his obsession tariffs. President knows that many countries run trade surpluses with us, and he's determined to change that. So we are beginning to understand that when there's a camera, there's a tariff discussion, and it's beginning to wear investors down. You doubt me? All right, look at this, look at this. The market's coming around the first turn. All right, here we go. It's flying. And then boom. Okay, boom. 12 o'clock meeting starts. Just goes down and down and down and down until about 2pm why? Because then kind of the coast is clear and the President might not talk again. But it doesn't save the day, does it? So a beautiful day. And then right here, we get right into where we're about to have that discussion. Boom. We have a discussion. Bang. Now we get a great set of numbers from video tonight, and then we all have to wonder what they matter tomorrow. Will they matter if the President ruminates on Taiwan tariffs or China tariffs? 2550. Who knows if it'll matter? Now, speaking as a citizen, I have no problem with these tariffs, if only to protect against unfair trade practices. But as someone who cares about the stock market, I can tell you that we're entering a new, more mercurial world where we have to start worrying about the President's public appearances because we don't know which country, which kind of which ally he is going to attack next. Maybe in this sense, the Russians are lucky. In 2021, they ran a $23.3 billion trade surplus with us. That's way down, thanks to the sanctions we hit them with after they invaded Ukraine. No matter. This market decided that as much as it matters, if there's good news like in video, what matters more is that we have very little certainty on trade policy, aside from the fact that that the President loves tariffs as much as he loves making headlines. Now, I don't want to obscure the company with a stock that I always say own, don't trade. Nvidia after the close, it was a very good quarter. Everyone thought this would be the most eventful quarter of earnings season, but it was a non event. Why? Because it was terrific. And Jason Wang gives us terrific numbers. He's about as steady as the President is mercurial. The company put up solidly better than expected sales and earnings with strong guidance for the quarter, driven by the strength of their new high end chips, Blackwell chips. Fantastic. Bravo. While we still have to Worry about tariffs and export restrictions. I have to tell you, the numbers are excellent. But let's talk about another situation so that Apple. Okay, Apple's America's greatest company. The other day, CEO Tim Cook committed to spending $500 billion in the United States over the next four years. Cities are telling you that that's not a real narrative, but that's wrong. They say it was planned ahead of time. That's wrong. I say, who cares? The commitment is terrific. Hey, a lot of that could have gone to India. But Apple, could they. Did they get any sort of immunity? Of course not. They could be hurt by tariffs tomorrow. Seems wrong to me. Maybe that's why Apple stock got hammered today. It ended up down $6.68, or 2.7%. When I searched for any reason, any reason, all I could come up with was one explanation. Tariffs. Sure, Apple's an American company. It's going to make a lot of things here. But it gets a substantial number of its parts from Taiwan. It manufactures a huge amount of products from cell phones in China. Because of the President's somewhat arbitrary nature, it's very hard to own Apple here now because you do not know if the President is going to attach tariffs to Taiwan, slot more tariffs in the People's Republic of China. Is there any assurances you won't? What will that do to Apple's gross margins? Can afford margin deterioration when Stock trades at 33 times earnings. That's why the stock went down. These are the musings of someone who actually likes the stock very much, who says own it, don't trade it, and thinks the company sensational. I just cringe now when the President talks about this stuff again. Not because I'm against tariffs. I'm in favor of tariffs. I like targeted tariffs. For example, it's outrageous that China exports steel to Mexico in order to invade our tariffs and then ships the steel here. Got to try to close that back door. But what do we do with the cars when we make in the United States to go back and forth over Mexico border when we make them? We don't know. And that's a big reason why General Motors trades at less than five times earnings. Just extraordinary cheap. It's a big reason why CEO Mary Barra announced a $6 billion buyback today. The stock, which is down 9% for the year, had a quick bounce, but it gave up a big chunk of it. Tariffs. We never know when we're going to hear about tariffs next. But we do know they're coming. And we know that no Stock is immune. Tariff talk is so pervasive, so overwhelming, so in your face, that we even stopped discussing what dominated our discourse for years, which was the bond market. Long term interest rates have plummeted. The ten year treasury, which not that long ago seemed to be headed toward 5%, is now slouching toward 4%, finishing at 4.25% today. That's insane. Especially when you remember that we have kept, I keep having gigantic bond auctions. What happened to all those 5 percenters anyway? Good. Probably go to Palm beach, avoid taxes. A couple of months ago, if we got this kind of action, the bond market stocks would have exploded higher, probably making new all time high after all time high. After all time high. Nvidia would be up 25 points. Today, the bulls will be running free, trampling any bear in sight. But now nobody cares because rates are coming down for the wrong reason. That's right, it's because of tariffs. Because of worries that Trump's trade policy will do real damage to our economy. A huge amount of money is flowing to the 10 year because the 10 year may be the one piece of paper in this entire country that doesn't go down when the President speaks. In fact, the President has become the bond market's best friend. I don't want to be a heretic in a market that sky go for in video, but I think bonds represent safety in a world where the President, not inflation, has become the chief impediment to higher stock prices. Too many companies can be tariffed and they very well might be. There's just way too much fear. Look, I've never bought into the dogma of free trade. I am not a globalist. But let's face it, Spain's a better market of 15%. France up 10%. Germany so trouble 14%. China roughly flat this year, but it's made a big recovery, up 8% from its January lows. While I expect all these markets will eventually experience the wrath of President Trump, they don't suffer from an almost daily barrage of tariff talk. Or let me put it another way and another time. This market could have handled poor results from video and still going higher pretty much just because of the treasury yields, because that's a sign that we got inflation under control. But the bottom line here, it's not happening. The market's not happy, it's not going higher because we know the President could come out any minute and rock this market with a new tariff. In pretty much any country where we have a trade deficit, and that is most of it, it's time to give the tariff talk a break, if only to celebrate in videos. Stupendous quarter. Apple's tremendous commitment to this country and all the great things that United States companies do for all of us there. Ian in Florida. Ian hey, boo. Jim, how you doing? I am doing okay. How about you? Ian? Doing excellent. Thank you. Jim, third time caller and investment club member. Excellent, thank you. Thank you very much.