CNBC’s Jim Cramer said Wednesday of which his “Cloud King” group of red-hot technology stocks have become go-to names when investors are concerned about an economic slowdown.
of which explains why Workday, Splunk, VMWare, Twilio in addition to Adobe surged as much as 3.33% during the trading day, while the smaller cloud play in Trade Desk jumped nearly 8%, he said.
“The cloud can be a secular winner,” the “Mad Money” host said. “Meaning companies keep investing in This kind of money-saving software even when business slows down.”
The Dow Jones Industrial Average was able to reverse a 190-point drop inside the morning in addition to close inside the green.
Health care stocks have been inside the “doghouse,” thanks to the number of Democratic presidential candidates of which are pushing for some form of an individual-payer system, Cramer added.
“Regardless of how you feel about ‘Medicare for All,’ I can guarantee you of which the health insurance companies in addition to big pharma are not fans,” he said. “Yet these stocks surged today, because they’re precisely what works in a slowing economy.”
“Medicare for All” can be the health care stance popularized by Bernie Sanders, the independent senator coming from Vermont who can be running for the Democratic Party’s nomination.
The brand-new normal
Traders work on the floor of the brand-new York Stock Exchange.
A cross current of bad retail data in addition to market-moving news out of the White House carried Wall Street higher on Wednesday, CNBC’s Jim Cramer said.
The Dow Jones Industrial Average gained nearly 116 points Wednesday. The S&P 500 advanced 0.58%, while the Nasdaq Composite advanced 1.13%.
“We got a weird combination of tailwinds today … Turns out we can get not bad news, too, in addition to some days like today the stock market actually makes sense,” Cramer said. “I want to walk you through what happened in This kind of crazy session because of which can be a perfect encapsulation of the brand-new normal.”
Go deeper here.
Capitalizing on the subscription economy
Chuck Robbins, CEO of Cisco
Ashlee Espinal | CNBC
Cisco delivered better-than-expected earnings for the third quarter of its 2019 fiscal year. of which recorded $12.96 billion in revenue, which was up 4% coming from the year prior.
CEO Chuck Robbins told Cramer how the company has homed in on its software business.
“We’ve been on This kind of journey to improve the percentage of our business of which comes coming from software in addition to even implementing subscriptions on top of our core networking portfolio, which has gone incredibly well,” he said. “We have drastically increased the percentage of software in our business, in addition to we’ve also driven a ton of innovation of which obviously are customers are actually believing in right at This kind of point.”
Catch the full interview, which also features CFO Kelly Kramer, here.
Eyes on the prize
Chinese President Xi Jinping in addition to U.S. President Donald Trump during a meeting outside the Great Hall of the People in Beijing.
Artyom Ivanov | TASS | Getty Images
Cramer said there’s no need to look at the data when you have U.S. President Donald Trump in addition to China President Xi Jinping jockeying to win approval coming from their supporters during the trade war.
Trump can be using U.S.-China trade tensions to clear a path to win reelection in 2020, while Xi doesn’t want to get caught capitulating to America.
The host breaks down why the two leaders think of which’s in their best interests to wait of which out instead of make a deal here.
Licensed to compete
Roku has been dominating its own lane as of late, in addition to Cramer said of which’s evident inside the “spectacular” quarterly report the company put out last week.
The stock has catapulted 172% This kind of year in addition to has been one of the best performers inside the market since going public in 2017, even as competition heats up with big names entering the video streaming industry. The underdog stock can be beating both Netflix in addition to Disney This kind of year.
“Streaming can be very common right at This kind of point, in addition to of which’s more common than ever,” Roku CEO Anthony Wood told the host Wednesday. “We had almost 3 million people cut the cord last year — a million last quarter alone. So you know there’s a lot of momentum behind streaming.”
Read more here.
Improving drug prices
GoodRx founders in addition to co-CEOs: Doug Hirsch (left) in addition to Trevor Bezdek
Doug Hirsch, co-founder in addition to co-CEO of digital pharmacy GoodRx, can be on a mission to save people coming from health care-induced bankruptcy, he told Cramer in San Francisco on Wednesday.
The average deductible costs more than $1,500, leaving the average American in a bind, Hirsch said. In particular, the majority of millennials don’t have enough money saved to cover a $1,000 emergency.
“of which means most Americans might literally go bankrupt before they can actually afford to get coverage coming from their insurance,” Hirsch said in a one-on-one with the “Mad Money” host.
Learn more about the CNBC Disruptor company here.
Cramer’s lighting round: Don’t buy Targa because of of which high yield
In Cramer’s lightning round, the “Mad Money” host takes calls in addition to delivers opinions on viewers’ favorite stock picks.
Targa Resources Corp.: “No, no. Way too dangerous. Targa’s too dangerous. I do not like the fact of which of which yield can be high —[of which] can be not a not bad sign. I don’t want you to buy Targa. I need you to be in something more conservative. If you want yield, I’d rather see you in Chevron. “
Disclosure: Cramer’s charitable trust owns shares of Cisco in addition to Twilio.
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