Cramer's First Hour -- August 30, 2024

Locator: 48498CRAMER.

Jim Cramer not "here" today. Today: David Faber and the "Brit guy" -- my least favorite, Wilfred Frost.

Wilfred Frost: Frost assumed his current role after stepping back from his anchor duties at CNBC in February 2022. Now, if only Brian Sullivan would "step back." And while they're at it, replace Phil.

Cramer's first hour: a mix of fact, factoids, opinions from various sources -- often not cited -- while listening to Cramer's first hour on CNBC.  

PCE: not only "in-line," but actually better than expected. The Fed: the 25 bp rate cut all but guaranteed. Whether it's 25 bp or 50 bp will be based on the employment numbers. Tea leaves suggest a cut of 25 bp. Begrudgingly by some governors. But they will go along to get along. 

A reminder: historically, the months of August and September are the worst months of the year for investors who hope to pay more for shares. 

Futures one-half hour prior to open:

At the open:

Tech: the CNBC crawler suggests tech will take off today. Intel (INTC) is the one to watch. If it does that I think it's going to do, it will be for the "wrong" reasons, but that doesn't matter for traders.

At the open:

• INTC: up 5%.
• NVDA: up 0.8%.
• AAPL: flat, but showing signs of life.

Open AI: the big story on CNBC today.

Dollar General: 

• the amount of time the "Brit guy" is spending on Dollar General is insane;
• Dollar General is great for traders (up 3% since yesterday; absolutely predictable);
• this would have been a good stock for Warren Buffett to have bought yesterday
• but:
• Dollar General: a one-off;
• doesn't reflect US economy in the least; simply poor execution but CEO will suggest it's the "constrained consumer"
• the "constrained consumer" is moving to Walmart

Earnings:

GPD, 3Q24: tea leaves suggest an incredibly disappointing 1% for 3Q24, down from 3% in 2Q24. Everything suggests the Fed should move faster and more decisively, but they won't. 

Dead: DEI.

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Disclaimer
Briefly Reminder 

• I am inappropriately exuberant about the US economy and the US market.
• I am also inappropriately exuberant about all things Apple. 
• See disclaimer. This is not an investment site. 
• Disclaimer: this is not an investment site. Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here. All my posts are done quickly: there will be content and typographical errors. If anything on any of my posts is important to you, go to the source. If/when I find typographical / content errors, I will correct them. 
• Reminder: I am inappropriately exuberant about the US economy and the US market.
• I am also inappropriately exuberant about all things Apple. 
• And now, Nvidia, also. I am also inappropriately exuberant about all things Nvidia. 

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The Self-Study Page

Years ago I put together a self-study program on the US Civil War based on US Grant's memoirs. Target audience: middle school grandchildren. As far as I know, I never put it on-line; hard-copy / binder only.

Now, I'm ready to put together a similar self-study program on dinosaurs. This page is still in progress but would be the basis for a dinosaur self-study program. By the way, this whole subject will benefit greatly from AI but that's another story for another day.

A third self-study program: Greek dramatists. I have several sites on this subject, one example here.

I also have a "personal finance" page designed for high school students but no link; intended for two grandchildren right now.