Cramer's Morning Take: Home Depot 9/9/25

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Jim Cramer (1:04)

I'm Jim Cramer and you're about to hear a sample taken directly from today's CNBC Investing Club morning meeting. I saw some stunning numbers about the really the lack of job creation in this market. And immediately I thought, well, okay, we are in one of those moments where we're going to have three cuts. That's what Dave Costin said is my pal from Goldman Sachs. Three cuts means buy a lot of the stuff that's going down today.

SPEAKER_6 (1:30)

Yeah, it certainly points that way. And we'll see some inflation readings over the next couple of days, PPI tomorrow, CPI the day after that. But as we heard from pal at Jackson Hall, he is acutely focused on weakness in the labor market.

Jim Cramer (1:44)

Well, that's why I'm saying that use the weakness in lumber to buy Home Depot. That's actually not bad that we just lumber provided that we do get the rate cuts. I do consider, again, Home Depot to be like I did with Capital One when it was at 180 I think Home Depot was the stock that has the most upside of our portfolio.

SPEAKER_6 (2:02)

And what was interesting last year when the Fed was readying its September cut is that they cut, but then the long end started going higher. And that kind of hurt the bullish view there. We didn't get mortgage rates sustainably lower. But just given some of the recent weakness in labor manufacturing, as you pointed out on Sunday, maybe we see both ends coming down.

Jim Cramer (2:25)

Well, look, I just think that if job growth is as bad as it is, we're not going to focus on potential increase in inflation from tariffs. We will just focus on job growth because it is really beyond anemic. There are now a lot of people very worried. It's getting very hard to get a job now. When you come out of school, I wish that the administration would have said that. But it's the work that I've done to say it's tough to get a job again. And it hasn't been like that in a long time.

SPEAKER_6 (2:52)

Yeah, I'm sure Chachi BT and some of the automation that comes with it probably isn't doing anyone any favors. Why don't we talk Boeing? Because we initiated a position yesterday. As we've been saying for months, probably the biggest winner of trade deals under the Trump administration, under the idea that if a country needs to reduce its trade deficit with the United States, the logical solution, buy more Boeing jets. We saw that with the United Kingdom, the UAE, Qatar, there's frameworks with Japan and South Korea. Even China, there's been some reported interest.

They're going to be back buying for the first time since 2017 So all positive, all going to the backlog.

Jim Cramer (3:36)

Remember, the key delta that you and I talked about, how many per month the government will let them make because they have a huge fixed cost. When you have a giant fixed cost, you got to be able to continue to pump out, pump out. Then the margins go up big and this thing goes to 400

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