Squawk on the Street

Cramer's Morning Take: Morgan Stanley 9/19/24

Cramer says he’s considering swapping this Big Bank for another. Become a CNBC Investing Club member to go behind the scenes with Jim Cramer and Jeff Marks as they talk candidly about the market’s biggest headlines. Signup here: cnbc.com/morningtake CNBC Investing Club Disclaimer

Broadcast on:: 19 Sep 2024
Audio Format:: other

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I'm Jim Kramer, and you're about to hear a sample taken directly from today's CMC Investing Club morning meeting. We got what I think was a realisation this morning, that we have growth with declining inflation. That is perhaps the most bullish scenario there is. So therefore, we're seeing widespread buying, tech, discretionary, communication services, materials, and industrials, and Jeff, there's only a couple lagers. So the ones that we've been telling you how to get out of. Yeah, no, absolutely. And this all goes back to the Fed cutting interest rates by 50 basis points yesterday. It was a big debate. Would they do 25? Would they do 50? They did 50. And initially yesterday, there was a little bit of a pullback. Perhaps there was someone that was concerned about the economy, but we had some data this morning, initial jobs claims hitting the lowest level since I think it was mid-May. So it's still a good sign that the economy is still doing well. So you're seeing a lot of, I'll call it, more like risk-going activity. The semis are leading the charge this morning in business. AMD, who you had on last night. Boy, I've got to tell you, at least as soon as the most bullish. I've heard of what you say, and obviously this room for two. There's tremendous demand for AI, but also for her torrent chip. That's the most latest chip that would be used perhaps in the artificial intelligence PCs. Look, I think she's really taking it to Intel. I think there's a lot of news about Intel today. They're not going to sell their mobile eye. Every single day there's news about Intel, except for the one-time one, which is robust sales. And that's what advanced microhas. Yep. Now, at the same time today, we are seeing a big rally, S&P, all-time high. Oscillator was still over-balled yesterday, so we did make a sell into this morning strength. Lightning up on some Morgan Stanley, which we've been talking about for about a week now as an idea to trim as the market goes higher. Yeah. First swab, which has become more of an analog because of what they've bought with E-Trade, not doing that well. Second, Robin Hood is taking it to him. This E-Trade buy not being rationalized. Morgan Stanley not being run nearly as well as Goldman Sachs. I hope it had been to get out of the last of Morgan Stanley and go into Goldman Sachs play with an open hand, because I think Goldman Sachs is cheaper and better. Yeah. I mean, under the idea that as the Fed cuts, you see a nice up-cycle and investment banking activity, Morgan Stanley, unfortunately, has been more weighed down by the wealth management business, Goldman, more of a pure play on investment banking. And that's one of the reasons why Morgan Stanley has lagged Goldman Sachs, unfortunately, this year. Start your day with my outlook on the daily market every morning at 10.20am. Visit cmbc.com/morningtake to access all the benefits of being a CMC Investing Club member. All opinions expressed by Jim Kramer on this podcast and in connection with the CNBC Investing Club are solely Kramer's opinions and do not reflect the opinions of CNBC, NBC Universal, or their parent company or affiliates, and may have been previously disseminated by Kramer on television, radio, internet or another medium. No specific outcome or profit is guaranteed in connection with your reliance upon or other use of the content from Kramer. The opinions offered in connection with this podcast and the CNBC Investing Club are not an attempt to induce any particular trading behavior, investment or strategy. You should be aware of the risk of loss in following any strategy or investment discussed in the content from Kramer. To view the full CNBC Investing Club disclaimer, please visit cmbc.com/investingclubdisclaimer. Now, two pigeons be moaning the fact you can stream DirecTV satellite free. These humans can stream all the top rated national news channels on DirecTV and now with no satellite dish. It's just in, weather, sports, election coverage. DirecTV has it all, but something is missing, the satellite dish. What are you doing? I'm reporting the news. Back to you, Bob. Here's some news. You're a buffoon. Stream the top rated national news channels. No satellite dish. Visit DirecTV.com, internet required. Top rated news based on 2023 Nielsen ratings. three Nielsen ratings.