Mad Money w/ Jim Cramer 6/5/26

**SPEAKER_1** (0:00)
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**SPEAKER_2** (0:30)
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**Jim Cramer** (0:58)
My mission is simple, to make you money.
I'm here to level the playing field for all investors. There's always a boom working somewhere, and I promise to help you find it. Mad Money starts now.

**Jim Cramer** (1:15)
Hey, I'm Cramer. Welcome to Mad Money. Welcome to Cramerica. Hello, my friends. I'm just trying to save you a little money here. My job is not just to educate, but try to do some teaching here. Call me 1-800-743-CBC. Tweet me at Jim Cramer. Last night, I was confident I spoke to Sue. I thought the market was surprisingly resilient. Turns out today was the day when people started raising the money that I thought they'd have to to participate in a bunch of upcoming mega IPOs. Given how difficult it would be to get shares in the SpaceX deal, see, I thought there might not be as much mammoth sell-off ahead. I was wrong. That drove a lot of today's selling, by the way, with the Dow tumbling 695 points, S&P plunging 2.64 percent, the NASDAQ plummeting 4.18 percent, as people wanted that money so they could go buy some Elon Musk.
I was right about one thing, though. Supply can be the reason why the bull gets killed.
And it looks like there's a lot more supply coming down the pike than I had bargained for. Now, today had a multitude of stress points. First, we got an unemployment report that was way too high, too strong, at least from the perspective of someone who wants the Federal Reserve to cut interest rates.
Even though there's a gigantic underclass in this country desperately needs interest rates to leave, as they're being stung by tariff inflation, we're all impressed with gasoline. But the Fed doesn't cut when we have this kind of decent job growth. It's off the table. If anything, people are talking raid hikes. It was way too hot for the Fed, but too cool for the many Americans that are on the fringe, underemployed, all through the healthcare, and now coping with needless cuts in food stamps. So interest rates go up, terrible for stocks, and not good for anything else, except for maybe some of the people who lend money for a living. That means some buyers felt that they should pivot and start selling tech and buying companies that do better on a slowdown. Why better on a slowdown? Because the slave reform was so strong that many bond traders are now betting the Fed will have to raise interest rates maybe several times in the next year in order to stamp out inflation. That's gonna lead to a slowdown.
It'd be real bad for stocks. Stocks are not ready for raid hikes. Until today's selloff, we're primed for raid cuts. At the end of the day, the bull thesis for the market wrestled in the idea that sooner or later, we're gonna get some raid cuts. Because many Americans will benefit from it. But now, rates might be going up and gasoline's staying up, not great for our service-based economy. There's still one more cross-current. A report today said that Meta Platforms is considering a colossal fundraise to pay for its AI ambitions, like the one we saw just from Alphabet this week. I've warned for months and months that the market can't handle the deluge of new supply and I'm looking right about that thesis. Even I was wrong about how quickly things would sneak up on us. One week ago, we didn't know that Alphabet was going to do a multi-billion dollar fundraise. They did.
We didn't know that Meta might do a fundraise. We didn't know a week ago that Anthropic would come public. Sure sounds like they're about to.
We don't know if Amazon or Microsoft might do a fundraise. How about OpenAI? Nothing would surprise me at this point, though other than a snide comment about what took you so long to Microsoft. But we know about the SpaceX deal, and it's so large that the money to pay for it has to come from somewhere. And right now it's coming from other stocks, particularly tech stocks, which is something I'll cover in depth later in the show. For now, let's just say you're looking at a market that's hostage to interest rates and high oil, coupled with a monstrous amount of new stock offering and new stock coming through the pipeline that can't be bought unless investors sell something else. In order to do this, you gotta sell, sell, sell, sell, sell, sell, sell, sell. Boy, are people doing it. So we're in the house of pain, not here.