Cramer's Morning Take: Best Buy 11/15/24

Jim Cramer (0:02)

Jim Cramer here to share with you a sample of my take on the market from today's CNBC Investing Club morning meeting. Today, the markets are lower, and the S&Ps had a tough week. I think that the market is trying to digest who exactly is president-elect Trump. And the skepticism you're seeing down here with the NASDAQ goes right part and parcel with the tenure, which is back to 4.45. I don't think that we're getting a very fair depiction of what could happen under the Trump team, because we don't even have the economic conscious. But we're reacting to Robert F. Kennedy Jr., which is a revelation, because he's basically against the science that a lot of our companies have. And there's a sense that maybe the attorney general is a little off the reservation. Maybe the interior guy will be a baby drill.

So I guess what I'm saying is that there is a bit of an unease on Wall Street.

Jeff Marks (0:58)

Some of the enthusiasm of last week coming back out. Surprisingly though, you still have energy and financials doing quite well. Those are the best performing sectors today and on the week. And a lot of that is under the idea of a deregulation, pro-business environment.

Jim Cramer (1:18)

We're finally seeing Cotera getting recognition for becoming much more oily. And by the way, just so you know, most of the analysts have a 30-plus price target. And I think that's right. I would love to double down Cotera here because I think it's the best. And I think it's, I have to tell you, I think it's data center play people recognize it. It goes higher.

Jeff Marks (1:38)

So you mentioned the tenure earlier. Yesterday, we did see yields pop. Chair Powell, he was at an event, reiterated, again, reiterated, nothing new here, but the Fed is in no big hurry to cut interest rates. You saw the probability of a 25 basis point cut in December fall. Yeah, so the yields continue to rise. Meanwhile, but the economy is still pretty good. You had retail sales better than expected. I think one of the highlights was good electronics and appliance store numbers.

Jim Cramer (2:06)

That could be good for Best Buy.

Jeff Marks (2:08)

Yeah, it's a good read through into Best Buy. Definitely there. But again, it's this rise in yields.

Jim Cramer (2:14)

Please look at this. You know, I'm so nervous about Best Buy. I don't want to say, listen, take a little off, but I feel like we've already done that.

Jeff Marks (2:23)

Yeah, it's about a 2% position. Yeah, let's keep it at 2%.

Jim Cramer (2:27)

Why don't we keep the tariffs?

Jeff Marks (2:29)

Yeah, tariffs and then also, you've mentioned maybe AIPC is not doing as well.

Jim Cramer (2:34)

Yeah, I mean, would you want to take the game? Would you want to take the game?

Jeff Marks (2:37)

A 2025 story there.

Jim Cramer (2:38)

Would you want to take the game? Some of it?

Jeff Marks (2:41)

Maybe we'll think about it. Yeah.

Jim Cramer (2:46)

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SPEAKER_3 (3:01)

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