Locator: 50796CRAMER.
NVDA: $5.5 trillion market cap.
Sara Eisen on Cramer's first hour, best quote: "President Biden didn't even go to China, and there we have Team America -- Trump, Elon Musk and Jensen Huang -- coming off Air Force One after landing in Beijing. Markets love that." Eisen was as good as she ever was this morning.
Starlink: Elon Musk confirms Air Force One uses Starlink.
NVDA: hits a 52-week high. That China trip? I'm lovin' it.
China trip: only two CEOs on Air Force one -- I think it was Tim Cook and Citi CEO but Jensen Huang jumped on the plane at a refueling stop-over in Alaska.
So, not sure if Air Force One landed with two or with three CEOs, but the presidential plane departed DC with only two CEOs. I'm sure Tim Cook was one; I thought the Citi CEO was the other one, but I really don't know. Chatbots will confirm if interested. A dozen other CEOs did show up in China but only by invite and one their own jets. Another example of how chatbots provide "bespoke journalism" -- other reporting delayed, hard to find, questionable accuracy ... but here's chatbot:
WTI: continues to move up. Coal? Coal is dead. Long live coal.
April PPI (producer price index): significant increase; greater than expected. About 1% vs 0.4% estimated. Markets respond accordingly / as one might expect. Ignore the Covid-induced inflation and this is the highest inflation in 20 years. Whoo-hoo --- seniors will benefit with higher COLA for social security.
WTI: $102.20.
Futures: futures suggest "much of" the tech losses from yesterday will be erased today. The Dow is down 230 points pre-market after PPI released; prior to PPI announcement the Dow looked pretty good, but after the PPI announcement, the Dow turned down even more. By 10:00 a.m. this morning, the PPI will have been forgotten -- other news will take its place.
NASDAQ QQQ is actually up a couple of points.
Micron: futures, up another 37 points. Amazing.
Mortgage rates: move to highest level in five weeks, but homebuyers "shrug it off." We've had this discussion before. Within a range, mortgage rates have little effect on decision to buy or not buy. And, like everything else, to sell a house, a seller / realtor may have creative deals to offset any increase in mortgage rates.
Semiconductors: PHXL. Top 30 components. Ticker SOX.
Hantavirus update: it may be in draft form; if so it will be posted later. Link here. This is the kind of research our Secretary HHS prefers to "kill."
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Destinations
Pottery Manufacturing In North Carolina
This is so incredibly cool!
AI prompt: pottery manufacturing development near Spruce Spine, North Carolina.
AI reply: while Spruce Pine, NC, is a major center for quartz mining and semiconductor-related industries, it is not a hub for traditional pottery manufacturing; that distinction belongs to Seagrove, NC, which is centuries old and known as the "Handmade Pottery Capital of the United States."
Spruce Pine's industrial development focuses on high-purity minerals rather than clay-based arts and crafts.Spruce Pine's Industrial Focus:
- Mining: Spruce Pine is at the heart of a significant mining district that supplies high-purity quartz used in manufacturing integrated circuits.
- Companies: The mines are primarily owned by global material solutions companies like Sibelco and The Quartz Corp.
North Carolina's Pottery Hub:
- Seagrove: The region historically known for pottery manufacturing is Seagrove, located in central North Carolina, which has a tradition dating back to the 18th century and is considered the "Handmade Pottery Capital of the United States."
Geography:
- Spruce Pine is three hours, almost directly, west of Seagrove, North Carolina
- Spruce Pine is more inland, northwest side of Charlotte, NC
- Seagrove is nearer the cost, on the northeast side of Charlotte, NC
For more: see this on the blog.
