Squawk on the Street

Cramer's Morning Take: Retail Sales 9/17/24

Jim and Jeff discuss the latest retail sales data ahead of the Federal Reserve’s policy meeting today. 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:: 17 Sep 2024
Audio Format:: other

CNBC Investing Club Disclaimer

What's on the horizon for financial markets? At PJIM, it's a question that over 1,400 investment professionals relentlessly research in pursuit of your long-term goals. Specialised across asset classes, but united in collaboration, our teams provide global and local expertise. Our investments shape tomorrow, today. Pursue your tomorrow with PJIM, a leading global asset manager. Earning your degree online doesn't mean you have to go about it alone. At Capelli University, we're here to support you when you're ready. From enrollment counselors who get to know you and your goals, to academic coaches who can help you form a plan to stay on track, we care about your success and are dedicated to helping you pursue your goals. Going back to school is a big step, but having support at every step of your academic journey can make a big difference. Imagine your future differently at Capella.edu. I'm Jim Kramer, and you're about to hear a sample taken directly from today's CMC Investing Club morning meeting. Now, I've got to tell you, we've got a couple of numbers. The August retail sales, they're actually strong. Us, I don't guess, they're still strong. But I really want to comment on the fact that I'm out here and you feel like not only should there be no Fed rate caught, but you begin to think maybe business is so strong because you still can't get enough people to do regular work that technology has. There's just not enough engineers being produced. So I find it unreal, the world where the consumer is definitely weaker. The world where the hiring is is not weak at all, at least out here. Sure, it definitely can feel a little surreal, right? We're about to, the Fed's about to start cutting interest rates and we have the S&P knocking on the door of an all-time high, the Dow made a new high yesterday again today. But I think just going back to the retail sales, they were pretty good. I mean, if you drill down electronics and appliance stores, we look at that for Best Buy. It actually was down 1.1% month over month, but up 1.9 year over year. You had building material, garden equipment that squeezed a small month over month game, but I think everyone's really looking ahead to the rate cuts, right? Because if you have resilient consumer spending and interest rates are about to fall, that's going to give a boost to a lot of retailers. I think it's important for people to understand. I was having Best Buy, TJX, Stanley, and Home Depot. That's because we have been playing the rate cut and those who haven't are going to come in and play and ours are going to get a lift. Now, we're not traders, but I've got to tell you, Jeff, the housing place we have have been on fire. I mean, incredibly strong. In anticipation of, I hope, just a quarter, because if it's 50, if our stocks are up because of 50, then they will give up some of these gains. And we don't know if it's going to be 25 or 50, right? That's still very much a debate. It's kind of like why you said at the end of MAD yesterday that if you're not a trader, maybe it's just best to sit on your hands because we're not exactly sure how the market react. Maybe if it's 25, there'll be a rotation back into tax and semis are weaker today. But if it is 50, maybe you see an extension of the rally. But I think that as we have it set up now, we definitely have stocks that work in both environments. Start your day with my outlook on the daily market every morning at 10, 20 a.m. Visit cmbc.com/warningtake 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. Imagine earning a degree that prepares you with real skills for the real world. Capella University's programs teach skills relevant to your career so you can apply what you learn right away. Learn how Capella can make a difference in your life at Capella.edu. Thank you.