Cramer's Morning Take: Walt Disney 8/7/24

Jim Cramer (0:02)

I'm Jim Cramer, and you're about to hear a sample taken directly from today's CNBC Investing Club morning meeting. What we have here today is a good day. Now, I got up yesterday, well, I guess it was today, actually, at 1.30. And the futures were starting to really get jiggy. And then they just got better and better. Why is that? Because it's all from Japan. We are now starting to think maybe it was a one-day glitch. There's obviously worries. Nothing's going wrong.

It's systemically, but we do have a problem with consumer more than that in a second. But we are tied with Japan. And when the yen went up, believe it or not, we went up with it. Now, should that be happening? Everything is connected in the world. So it's entirely possible that trillions of dollars are run basically in this fashion of really borrowing against Japanese bonds. So what you're up against is a market that is not being driven by United States, being driven by Japan. Now, in the interim, I can make certain generalizations that I think matter tremendously. For instance, last night we got a series of reports that were very strong, as I mentioned in Mad Money. This morning, the opposite. We had TripAdvisor not that strong. We had Airbnb not that strong. That came out really late last night. And most importantly, let's talk Disney. All right, now I spent a lot of time on Disney. And the main reason why I had been reluctant to recommend Disney after we sold half of it when it was at 120 was because I felt that we were going to get hurt by streaming. Because streaming had been a black hole. Suddenly, streaming has come bouncing back. And that's really what matters. Now, instead, people are focusing on theme park weakness. I was using low, mid, single digit decline theme park weakness.

SPEAKER_2 (1:45)

Why?

Jim Cramer (1:46)

Because Comcast had double digit decline theme park weakness. And there was no way you could get a read through that said that Universal Parks was going to be much better or worse. Probably, I think that I felt it would be similar to Disney. So if I did that, then I would say that I'm not shocked at all by the fact that Disney did not have good theme park attendance, particularly because we know that travel, other than cruise travel, has been not that great. So I think Disney is a point blank buy here, okay? I want to make that point that if we were not frozen, had I not talked about it, it is a buy. And I want to make that point. Start your day with my outlook on the daily market every morning at 10:20 a.m. Visit cnbc.com/morningtake to access all the benefits of being a CNBC Investing Club member.

SPEAKER_2 (2:37)

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