Transcript
Fidelity Representative (0:00)
Don't just ride the index, seek to outperform it with Felc, the Fidelity Enhanced Large CAP Core ETF. Unlike passive ETFs, FELC is run by a team of experts to adapt to market conditions and pursue upside potential wherever it's hiding. And while you get the potential outperformance of an actively managed fund, you can still buy and sell it on your terms just like any other ETF. Discover FELC, the Fidelity Enhanced Large Cap Core ETF part of Fidelity's suite of active ETFs. Learn more at fidelity.com felc before investing in any exchange traded fund, you should consider its investment objectives, risks, charges and expenses. Contact Fidelity for a prospectus and offering circular or if available, a summary prospectus containing this information. Read it carefully. While active ETFs offer the potential to outperform an index, these products may more significantly trail an index as compared with passive ETFs. Fidelity Brokerage Services LLC member NYSE SIPC.
Dell Representative (1:01)
Introducing the new Dell AI PC powered by the Intel Core Ultra processor, it helps do your busy work for you so you can fast forward through editing images, designing presentations, generating code, debugging code, summarizing meeting notes, finding files, managing your schedule, responding to Jim's long emails, leaving all the time in the world for the things you actually want to do. No offense Jim. Get A new Dell AI PC starting at 749.99@dell.com AI PC how those ahead? Stay ahead.
Jim Cramer (1:55)
Hey, I'm Kramer. Welcome to Mad Money. Welcome to Kramer America. I do make friends. I'm I'm just trying to make a little money. My job is not just entertain, but to educate and teach you. So call me. 1873 CNBC tweet Mitch Mcramer if you can bring yourself to hate this market, then you hate any market. That's how I feel after looking at some of today's top performers in an otherwise strong session where The Dow gained 404 points, S&P climb.8%, closing a smidge below its high, and The Nasdaq jumped 0.97%, all helped by a statement out of the White House that said the upcoming July 9th trade deadline wasn't critical. Good news because we have only seen one deal so far with the uk and we're getting more than a tad nervous about what would happen two weeks from now. For much of the tremendous run over the past decade, critics love to point out that most of our gains were coming from a small cadre of tech stocks. First it was Fang, Facebook, Amazon, Netflix and Google. Then it became the magnificent Seven Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia and Tesla. Over and over again, as the market roared higher, we were told that the rally was so narrow that it could not be sustainable. You couldn't have a handful of companies that were worth trillions of dollars, then hundreds of stocks in the tens of billions, but nowhere near the valuation of these tech titans made no sense. They told us it was only a matter of time before these false idols would be smashed and your gains would go up in smoke. I get that view. I've heard it all my life. There was a time I even believed in it. But if you're actually in the market every day from scratch, trying to notice what doesn't work, what can get you hurt, what can keep you out of tremendous gains, then you know there's another way this situation can play out. Sure, narrow rallies can collapse in on themselves. That can happen. Or you know what they can also do? They can broaden out. And then the market keeps jugging higher and higher, chugging higher and higher without the sages who told me to get out. See, I learned this lesson way back in 1988. I know, a long time ago, but we had one of those summers where only a handful of stocks led the market. I grew increasingly worried that I was riding the same stocks over and over again, especially yes, tech stocks. I was haunted by the notion that I was somehow whistling past the graveyard because of bull market with so few participants. Just had the collapse under its own weight. Sell, sell, sell. I used to hang out with a lot of other portfolio managers, hedge fund hotshots, you know, the analysts, they all said the same thing. Too narrow. You had to do some selling, you had to do a lot of selling, then ultimately you had to get short. And so, because I was young and not particularly discerning, I took their advice. I sold many of my longs and began to put my put options on stocks that were similar to my biggest winners, kind of as a hedge against the looming crash. Why not? We just had a crash year before, why can we have another one? Heck, we were do what we. But the crash never came. Instead, a narrow summer rally developed into a wider fall upswing and then turned into a full bore multiple sector stampede. Fortunately, I was able to sell the put options, but many of the stocks I'd hedge went up and the stocks I'd shorted moved up to that canceled out my upside. I finally got in long enough, bought enough stocks in the early late fall that when I stopped talking to other Money managers decided to take my own counsel. Well, I say I made a lot of money and I never again let the breadth of a market drive me into a. Into a short stance. Instead, it was the opposite for me there. Going forward, I was always on the lookout for the kind of widening of leadership that can crush the shorts like the widening we had today because I never wanted to get steamrolled by a runaway bull again. Right now we have a runaway bull for certain. In fact, it's a bull jailbreak, for heaven's sakes. And the bovines are running rampant, trampling the bears who were possessed with the narrow nature of what brought us this hide to begin with. They were staying short. They still are probably in turn. Look at the other totems. Look what's working. How about stocks like J.P. morgan and Goldman Sachs to stalwart financials, both going crazy or Caterpillar and Boeing doing quite well. The communication starts plowing ahead. Sometimes, though, it helps just to look at what's working on a given day. So intercession. I called up the top 10 winners in the S&P 500 today just to see how broad the list might be. It proved that what I learned in 1988 was a stock market life lesson. One of the few benefits of getting old. The one I'm giving to you now at the top of that list, that sainted list today. And face energy. Oh, boy. A roughed up solar company. Oh, it's driving that possible congressional break that could preserve some solar tax credits. Then it was Freeport McMurray. That's the copper miner. Copper has been a loser for years, but periodically the Chinese order tons of it. We buy it in bulk for the data centers. I don't want to report, even as Copper is up 25% for the year, reports a trading vehicle. We don't do that around here. But it certainly demonstrates the diversity of this top 10 list. Next is album. This is a chemical company, produces lithium. I don't know where this one's coming from. We haven't suddenly seen a surge in electric vehicle sales that I've seen or any tax credits in the grassroots bill. It's broadening out. Mystery could be happening. Then we've got McCormick, the spice company. This one's a shocker because most of the food stocks have been given up for left for dead. Turns out some parts of the food industry are getting it right. Their stocks are going up. We've got McCormick on tonight to find out more. Next coinbase. All right, the cryptocurrency Stocks, they just never want to quit. And this is a group that matters even if older portfolio managers don't care. Look the other way. I think this one's going higher to who knows where. There was even a tech stock and it isn't a magnificent one. We're talking about a risk to networks which makes networking equipment long time Cramer fave. After that last quarter, some thought that the risk had lost a step. I didn't see it that way, but you had to wait a bit before it seemed to matter. There was another data center play this time it's Super Micro, an important partner of video. Now I think that not in that Super Micro. I think Dell is the right investment in the space. But there's no denying that the stock is doing quite well. Then there's energy. I mean, it's part of a small group of utilities known for the relatively clean power. And a lot of tech companies want clean energy for their data centers. Energy works directly with them and it also partners with GE Vernova, a capital trust holding that makes the turbines for their power plants. We then had insight. That's a biotech company. It just got a new CEO, Bill Murie. He's an industry veteran known as a dealmaker. Makes sense. Murray was previously the CEO of Karuna Therapeutics which he sold to Bristol Myers for a very nice premium. That better start working soon. Before that he was chief commercial officer at Allergan. It's a company famous for its dealmaking. Finally, rounding things out, we have apa. The old Apache can run, but it can't hide. This is an oil and gas company, primarily natural gas. Patch has been a huge disappointment of the years. Maybe now it's apa. It won't be. Well, anyway, maybe M and A is picking up. I had to wonder whether something going on here because otherwise it shouldn't be going up. I still prefer Kotara for natural gas. Still no denying that patches cheap versus assets and no denying that it's not a tech company. Here's the bottom line. For years we were warned that our rallies were too narrow. Now we got a broad leadership group. Today was the solar, couple of minerals, crypto platform, two data center stocks, a utility biotech and a natural gas producer. That's what I call a real bullish rally. Everyone who warned you that the market was too narrow to go higher is now either closing out their short positions or getting their faces ripped off. Neither's a good thing. Bottom we go to Corey in Tennessee. Corey.