In today's Daily Rundown, Jim discusses Amazon (AMZN) , Nvidia's (NVDA) quarter, JP Morgan (JPM) and Warren Buffett, trade with China and the possibility of an extension to the tariff deadline, the market and more!
Katherine Ross: Hey, you all. I'm Katherine Ross with Action Alerts Plus. I'm here on the floor of the NYSE with Jim Cramer. Jim, let's talk about Amazon. What do you think of the HQ2?
Jim Cramer: Well, you know what? It's not that relevant to the stock, but if the stock gets hit you want to buy it. Look, I thought it was very much of a shame because I'm a big believer that we could be, New York, Silicon Valley, and they've got Stanford, and we have Cornell and Columbia. It's about computer science, also about a lot of jobs that otherwise that we don't have here. Now, the one thing that they got away with, and the people who bash Amazon, is we have very strong employment in New York.
Jim Cramer: So there are a lot of places in the country they could never afford to do it. The hidden piece of information about this is that you can be ideological when your town is doing really well, but they should have been thinking a little bit on what happens if we have a downturn? At least Amazon might be there for jobs. So, people misinterpreted the idea. They look at current and they say that we're tight on jobs, but there will come a time that we might not be and we'll wish that an Amazon were here.
Katherine Ross: And what about Nvidia's earnings?
Jim Cramer: Nvidia is hard because I did a piece on Real Money this morning, the reason why Nvidia is hard is because you have to believe in the idea that the valley is almost over. This is something that Applied Materials does not feel is the case. Supply materials is down.
Jim Cramer: So you have to decide whether ... because they don't have cell phone. Applied Materials is cell phone. They don't have cell phone. They have gaming, they have artificial intelligence and they have data center If you think that those have to come back, gaming is an issue in China, but they talked about how Fortnite is good for their stuff. If you think those three are coming back, then you buy it.
Jim Cramer: Look, we own others that are better. Lam's better. Do I wish that we had bought it? Sure. I wish I'd bought Micron 30, too. So, wish, wish, wish. But that's not the way the business is. You can't own everything. That's one of the things I talked about on the conference call. You know, he defends everything, defends nothing. I think you can't own every single stock because it's coming back, nor cam you just say, "That's a buy, that's a buy, that's a buy." But Nvidia, it's not cell phone and cell phone is the real achilles heel of tech right now. It's just terrible.
Katherine Ross: Berkshire Hathaway bought share of JPM. What are you thinking of that?
Jim Cramer: Yeah, that was incredible. That just drove the stock up. That's a stupid ... I mean, look. If I were a trader, I'd sell it on that. I'm not a trader with JP Morgan, but that's a stupid reason. They've liked the financials forever, they've had Goldman forever. Don't trade off of those things. Just go on Berkshire Hathaway. I want to say, by the way, on the conference call I talked about the retailers. I like them and I wish I had pulled the trigger on Home Depot. Home Depot is going higher.
Katherine Ross: And trade in general. What's going on there? What are your thoughts?
Jim Cramer: Well, I think that stocks, we've pulled up a Dom Chu. He's one of my absolute favorites. Like, Caterpillar just had okay numbers and the stock's soaring. Deere had what people thought were bad numbers, the stock rallied up. 3M is coming back after a bad day yesterday.
Jim Cramer: And I urge people, Boeing and all the Boeing ... China needs Boeing more than Boeing needs China, but Boeing's doing quite well. Honeywell is doing well. Those are aerospace. Those are all good. So just keep in mind that there's so much good that is happening today that you have to believe that there's some sort of breakthrough, some sort of breakthrough.
Katherine Ross: I'm wondering if an extension or a deal is priced in to the markets?
Jim Cramer: Extension, because you see, there's two-fold reason why they want an extension, the hardliners. One is to give people more time to be able to move their supply chain out of China. And then the second is because it's intellectual property is the viewpoint, not buying of ... Like the Chinese keep plotting, "Listen, we're going to buy chips." Somebody's like, "No."
Jim Cramer: I mean, that's not what it's about. They're about the 2025 domination plan. China has a plan to dominate the world in 2025 and they don't want that. And they don't us to finance their 2025 world dominance. It is not for them, the hardliners, it's about hegemony and people don't understand that. So Google hegemony, H-E-G-E-M-O-N-Y. Google hegemony.
Katherine Ross: In case you needed a spelling lesson.
Jim Cramer: That's what it's about, because when I speak to them, that's what they talk about. Don't forget, Nike, Starbucks and Yum China if you think that the consumer's coming back in China.
Katherine Ross: And let's talk about the markets real quick, because they opened up today. What do you expect?
Jim Cramer: You know it's kind of crazy. I mean, here we have one more day where the joy comes back, and a lot of people don't understand that the sell up, the bear market end ... We had bear market. Bear market ended right before Christmas, day after Christmas, day before. And that was a vicious bear market and it's going to be known as a flash/crash bear when this period's over. I talk about that on conference calls. And flash/crash bear ended and we have a lot of ground to make up of where it was.
Jim Cramer: So you take a Home Depot, which I like very much, the stock was down 30 from its high. That's unusual. But, when you have a bear market that's caused by the Fed, you're going to have to have quite a turnaround in order to make it better, and the turnaround's happening. There's a lot of good things happening, a lot of green shoots. I'm very happy with how things are. As unhappy as I was in December, I am happy now.
Katherine Ross: Good. And is there anything else you want to talk about?
Jim Cramer: Let me see. I like the retailers. We're going to be buying something this morning that's interesting. I have JNJ on tonight, Alex Gorskey. We're talking about the watch in healthcare, we talk about the new acquisition they made about digital surgery and we're going to talk about esketamine and I'm very excited about that.
Katherine Ross: I'm excited about that.
Jim Cramer: I work hard to get these interviews. And people don't understand. I book everything. Well, no. There are some things that are booked that are not by me. But I pursue some of these people endlessly, like I had Twilio on yesterday, Jeff Lawson, and I think Twilio is a buy. And that's kind of what I do. I mean, I'm working too hard right now.
Katherine Ross: Well, you're about to go take a vacation.
Jim Cramer: Yes, I am and I'm very grateful. I'm going to go plant some olive trees and really have the relaxation that I have to have. Thank you for all the people that had the birthday wishes. And I want to ... You can't stay young, but I want to at least ... What I want to do is not be burned out, because the schedule that I'm keeping is a little too hard.
Katherine Ross: Well, enjoy your vacation, Jim.
Jim Cramer: Thank you. Thank you very much.
Katherine Ross: All right, guys. We'll see you next week.