Cramer's Morning Take: P&G 11/14/23

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Jim Cramer (0:33)

Hey, it's Cramer, and this is my morning take on the market from today's CNBC Investing Club morning meeting.

We have been calling for a soft landing. We're obviously even David Faber complimented this morning. We've been big fans of what J-Pal's doing and just staying the course, and our portfolio reflects this day of the course, having owned most of the Magnificent 7 right through this period after trying to be shaken out over and over again, but also a Caterpillar, also a Stanley Black and Decker, which people would have given up on until Home Depot reported a number which shows you don't give up on anything related to housing.

Jeff Marks (1:09)

Absolutely, if you're trying to figure out what groups stand to benefit the most from rates pulling back, I think anything housing related is a logical answer. Stanley Black and Decker, that one's higher today.

Even with Home Depot, say what you will about their quarter, but with rates lower, you should see some housing places come back.

Jim Cramer (1:31)

If you want to be a chartist, it's that. We had Larry Williamson last night talking about again about how November's gonna be very strong and it's been sticking to that.

Jeff Marks (1:39)

On their last earnings call, they said if rates held from there or perhaps go down, you could see them earn closer to the $5 next year.

Jim Cramer (1:47)

Now, let's look at one, in case you're thinking about, well, hold it, did I miss the move? Let's put up Procter & Gamble, okay? Now, Procter & Gamble had a very intriguing conference call. Throughout the conference call, they were talking about all the commodity headwinds that were turning to tailwinds. But then, and you said, well, you're very excited, but then they said, listen, we have $800 million hit because of the dollar being strong. Well, the dollar's down big. And I mention this only because you see, a lot of people who are in the club are probably saying, I missed, I missed, I missed.

You did not miss Procter & Gamble, you can still buy that. It makes sense.

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