Cramer's Morning Take: Fed Preview & Amazon 9/20/23

SPEAKER_1 (0:00)

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Jim Cramer (0:32)

Jim Cramer here to share with you a sample of my take on the market from today's CNBC Investing Club morning meeting. This is one of those days, Jeff, is that there was a piece out from Bank of America this morning which talked about why things are gloomy and all the things that go right, and it colored the opening, but we do have a Fed Open Market Committee meeting, and I have found historically that to try to game J-PAL, whom I think is very smart, is not really possible. So people who say he's gonna be tough, people who say he's not gonna be tough, they don't know what they're talking about because he once said to me, he keeps his own counsel, and he doesn't blast out his counsel. We have the Wall Street Journal fellow who is a Fed whisperer, but at any given moment, J-PAL may say, you know what, I gotta be a little harder.

Jeff Marks (1:16)

And that's why it's so hard to try and game these events, right, PAL will start talking, you might get a big rally, a big sell off based off of, you know, as people parse through, his language, as they parse through the Fed statement as well, a lot of volatility, I mean, it's one of those types of days.

Jim Cramer (1:33)

Yeah, and then there's these people, you know, it comes in at 2 and they just send it down, and then you say, do they know anything? And then you see the presser, he comes back up, and I want people to be able to like certain stocks that we own that, you know, I'm gonna talk about tomorrow, and maybe you're bidding underneath for some dis, maybe at 80 and a half.

Jeff Marks (1:51)

But we usually sit on our hands, which is totally fine on this type of day. But I do want to go back to the Bank of America note that you referenced at the top.

Because yesterday, we felt like the market was only reacting to negative news. That was the only thing that can happen. But at some point, and there's always a level where, as things get so negative, you have to remember, things can get better. And I feel like that was kind of what Bank of America was suggesting that, yes, there is some gloom out there, but, you know, everyone hates stocks, and when everyone hates stocks, that's actually when you need to buy.

Jim Cramer (2:23)

I mean, what's really interesting is that we all kind of know there's probably gonna be like one, two, maybe three hikes, and then we're done, okay?

When they're done, you get a 13% increase on average.

It is very difficult to bail now, which is why I've been saying we've got your cash. When the market comes down, you gotta do some buying. Now, for instance, this morning, we found out how many people were being hired by Amazon, and it's humongous, and it tells me again, if you don't own some Amazon, you're getting a price that I know, look, is it here? That ships out. That ships out.

But you're buying it on the trend line, and that intrigues me. So I think that that's something tomorrow, I talk about how it's the right price to buy it. It just is.

Jeff Marks (3:06)

No, yeah, it made a 52-week high, pulled back three, four, 5%.

I found what was interesting with the amount of people that they're hiring, not only more than last year, 2019 as well, but if you look at some competitors, they're actually flat to down, so Target, Macy's, they've already put out their numbers. I haven't heard from Walmart yet, but they're flat to lower, so perhaps this increase is a sign that at least for Amazon, they expect a strong holiday season.

Jim Cramer (3:33)

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SPEAKER_4 (3:50)

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