CNBC’s Jim Cramer said Friday. space x The debut of a blockbuster product could pave the way for a new wave of AI-related equity products and help create a more constructive backdrop for stocks.
“No initial public offering has captured the hearts of Wall Street, and perhaps Main Street, more than Elon Musk’s SpaceX,” the “Mad Money” host said.
Elon Musk’s rocket company debuted Friday and closed at $161 per share, giving SpaceX a market value of about $2.1 trillion. Kramer said the service’s success could soon prompt other companies, especially AI players such as Anthropic, to enter the market. The startup behind Claude Model secretly filed for an IPO earlier this month. Additionally, he mentioned the following companies: microsoft, meta and Amazon It may decide it’s a good time to sell stock to fund its own AI buildout, just as Google’s parent company Alphabet is doing.
“Bankers work fast these days,” Kramer said, explaining that the idea is to “strike while the iron is hot.”
“We’ll see how SpaceX develops and I don’t know if they can resist selling their shares,” he added.
Cramer also said investors should keep an eye on developments in the Middle East. Although he remains skeptical that peace is on the horizon, making the resolution permanent could lower oil prices and ease inflationary pressures.
“If there is peace, the first thing we have to realize is that the process of reducing inflation will start with a collapse in oil prices,” he said.
Kramer said he was initially concerned that SpaceX’s product could overwhelm the market, but now believes its successful debut could support sentiment and set the stage for a constructive week ahead.
“The success of SpaceX’s deployment today is something to be studied for many years,” he said. “This is a victory for the market and if there is peace it will be unstoppable.”
Against this backdrop, Kramer has his sights set on the future of shortened business weeks.
Monday
Corporate news is relatively light, but Kramer says he plans to keep an eye on it. dave & busters Earnings reports can provide valuable insight into consumer spending trends.
Tuesday
Tuesday’s housing starts report will provide important information about the housing market. Cramer said the weak housing starts data could strengthen the case for new Federal Reserve Chairman Kevin Warsh to cut interest rates.
“I know a lot of people are saying the economy is too strong and we need to raise rates,” he said. “I think these people are dreaming.”
Wednesday
Kramer is scheduled to attend an analyst meeting hosted by an oil services giant. S.L.B. This could provide a clue as to whether producers are ramping up drilling activity in response to the recent spike in oil prices.
On Wednesday, investors will also get the latest retail sales data and get another look at consumer health and whether spending is starting to soften. “Retail sales are likely to be weak again this morning, supporting a rate cut,” Cramer said.
But the biggest events of the day were the Fed meeting and Mr. Warsh’s afternoon press conference.
“We expect Mr. Warsh to start preparing for rate cuts because the fundamental problems in the economy are deep, but a deal with Iran will eliminate inflation.”
Thursday
Before the bell kroger and Accenture Report. Kroger continues to grapple with rising costs that are difficult to fully pass on to consumers, while Accenture faces growing concerns that AI tools from OpenAI and Anthropic are taking business away from traditional consulting firms.
Thursday will be the last trading session before the main session. Nasdaq-100 Rebalancing is enabled. New additions include: rocket lab, Astera Research Institute, Teradyne, Neviusand coreweavemeanwhile Verisk, I recognize, Insmed, Z scalerand charter communications removed from the index. “The approval of these indexes will move the needle,” Cramer said, as fund managers reposition their portfolios ahead of the changes, which take effect at the start of trading on Monday.
