저자: JimCramer · 외국인
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첫 줄 결론: 시장은 기술주 쏠림이 아니라 주택건설·건자재·산업재·소비재 등 광범위한 종목으로 확장 중이므로, 현금에 묶여 있다면 조정 시 매수를 고려하라는 취지다. 시장 협소성 논란 반박: 6월 신고가를 기록한 S&P500 종목은 약 10%(5월 포함 시 20% 이상)이며, S&P 이익의 75%가 10개 종목에서 나온다는 지적은 인정하되 그것이 시장 전체를 대표하지 않는다고 주장한다. 주택건설: 레나(Lennar), D.R. 호튼, 풀테(Pulte) 등 주택건설주가 신고가를 경신했으며, 금리 인상 후에도 강세라는 점이 주목할 만하다고 평가한다. 벌컨 머티리얼즈, 마틴 마리에타 등 건설자재주도 긍정적으로 언급한다. 산업재·항공: 보잉, GE, 하우멧 등 항공우주 산업이 호황이며, 이튼(Eaton)은 디지털화·전기화·리쇼어링 등 장기 성장 테마의 대표주로 제시한다. 이머슨, 잉거솔랜드, 그레인저, 패카도 긍정적으로 언급한다. 소비·서비스: 오티스(Otis), 신타스(Cintas), 다든(Darden, 올리브가든), 몰슨쿠어스(Molson Coors), 크루즈주(카니벌 등)에 대해 소비 강세와 회복 신호로 해석한다. 월마트는 추가 상승 시 진입 의사를 밝혔다. 자동차·금융·헬스케어: 테슬라는 자동차 기업으로 보아야 한다고 언급하며 스냅온, 페어아이작(FICO), 무디스, 덱스컴, 인튜이티브서지컬, 바이오젠 등을 거론했다. 개별 종목 질의응답: 모더나는 1년간 31% 상승했으나 매도하지 말고 추가 매수를 고려할 수 있다고 답했다. 달러제너럴은 경영진 문제로 크게 하락했다고 혹평했다. 리스크: 나쁜 데이터 발표나 연준의 부정적 발언 시 하락 가능성이 있으며, 전량 매도를 권하지는 않는다고 덧붙였다. 결론: 기술주 외 성장 영역이 뚜렷하므로 시장은 생각보다 건강하며, 공포로 현금을 많이 보유했다면 조정 시 매수가 적절할 수 있다는 입장이다.
다듬은 글
My mission is simple. Make money for you . ca. I'm not looking to make friends. I'm just trying to make real money. My job is not only to entertain, but also to give some rationality to this madness. So call me at 1-800-743-2282 or tweet at @Jim Cramer. Listen, another day of hearing endless complaints about this market being too narrow to trust.
You heard them, I heard them. Even as the Dow rose another 190 points, up 0.93%, the Nasdaq jumped an impressive 1.53%. So many smart people continue to complain about how narrow the market breadth is . They say it's too limited, limited to just a few big tech companies. I said they didn't do their homework.
Perhaps they see that only about 10% of the S&P 500 reached a new high in June, or just over 20% if you include May, and believe that is too small to be successful. For me, this is quite a good start. At least for the long-term upward movement. Or when they criticize the market, they use obvious arguments.
75 % of S&P profits come from just 10 stocks. The "Magnificent Seven": Apple, Amazon, Microsoft, Nvidia, Tesla , plus Broadcom, AMD, and Salesforce, which we'll hear about later in the show. I've been hearing shouts all day today. I'm not kidding. All day. That this market cannot be real if technology leads .
Real. Somehow that means that all this movement is just sleight of hand. Magic , plus there are other tech stocks on the list of new highs . They have ServiceNow. They have thousands of clients from every possible industry. It's hard to be broader than that customer base. Isn't that important? Hey, Abbott Laboratories reported a great quarter this very evening, good earnings.
I'll take away the 12 points you earned for this . Maybe you don't want them, but I'll take them. Maybe you don't want the 20 points you could earn from Adobe. I like it, it hit a 52-week high. Wow, it seems that's forbidden. Two semiconductor equipment makers , KLA Tencor and Applied Materials, joined the list of new highs.
I was talking about On Semi, we supported all these actions , you know that. Maxim Industrial Chips, Fortinet for cybersecurity—they've all been on the air, we like them. The technology sector is bigger and broader. There is nothing narrow about leaders in the technology sector. And if you own them, and that's the main thing, right?
Is n't that what we're doing here? There's no note that says, "Ayyy, bought in a narrow, technology-driven market." But my main point is that despite the endless concerns about narrowness, there are plenty of non-tech stocks that are growing rapidly right now. I want to start with building a house, okay?
Because this is a pretty good sector. That is, think for yourself . This industry only makes up about 10% of the economy, right? It must demonstrate better results than expected of it. I see Lennar, D.R. Horton, Pulte. All three of these major developers are renewing their highs. In my opinion, this is simply phenomenal.
Especially considering that developers would have to suffer after all these rate increases. And perhaps the skeptics are waiting for every developer to join the party. I don't How can you ignore Lennar, Horton, or Pulte when evaluating a market that you think is driven solely by technology? You are like an ostrich if you do that.
Look, an integral part of housing construction is road construction. And you know I like road builders, they come to the show too. I mean Vulcan Materials , Martin Marietta Materials. These guys are smart. What else do you need to see at new highs before you decide to take action? Do you need to see a gravel manufacturer?
You know, this is just crazy. These are category-defining companies , and they provide us with huge reach just because of their customers. Okay, they're not giant companies, but they're not small either. Are we not counting anything with a market capitalization below 500 billion? I hear a lot of talk about how no industrial company is showing a breakthrough.
Okay, I'll answer this with the example of Boeing. This is an industrial company. General Electric is an industrial company. Howmet, what, too small for you? Each of them works in the aerospace industry . Here is a giant industry that is on fire, and in the aerospace business there are literally hundreds of thousands of suppliers.
I think it's safe to assume that there will be many more 52-week highs due to this situation. They cannot all happen at the same time. You can wait for others to join the list of new highs, or try to make money right now on those that are likely to follow companies like Boeing or GE. There are industrial enterprises that cover so many areas: digitalization, climate control, electrification, moving production back to the country, and they are showing growth everywhere.
The best example of this is Eaton, which is at the forefront of all these trends. If you want to wait until, say, Emerson, whose shares are in our charitable trust, is listed before you take action . Okay, please. I don't care. But as I plan to tell people at our investment club meeting on Wednesday, you can't rush this situation when it comes to long-term secular winners like Eaton, or hopefully Emerson, if they get their act together .
And then there's Ingersoll Rand. They represent the world of basic engineering. WW Grainger, have you seen them play? Engines, pumps, heating, ventilation, power tools. In my opinion, a fairly broad profile. Paccar feels good as part of the transportation core. But perhaps skeptics will say that they should not be classified as truck manufacturers.
This doesn't work. This is not an industrial enterprise. I don't know. This is so disappointing. But here's the thing. Look, you're watching TV, right? You watch these shows. What is the worst industry in the country? Commercial real estate, right? Well, come on. Then what the heck is Otis Worldwide doing on the list of new highs?
They, for goodness sake, make elevators for commercial real estate. But that's exactly what I'm talking about when I see the market expanding. Of course, it might just be because CEO Judy Marks is doing an incredibly good job, which she is. She took Otis to a level the company could never have achieved while encumbered within United Technologies.
But if you need a leading indicator that is based on real business, not hype, then Otis is it. Cintas is on the list. Okay, hey, big bumps, do you know what that is? Uniforms for small and medium-sized businesses across the country. It's hard to find anything broader, right? Not that these idiotic, thumb-sucking theorists know what Cintas is.
Hey, what is Cintas? Google Cintas there. Google it. Many seem to believe that the consumer is "dead ." You hear this endlessly, right? Darden is on the list of new highs. I mean, this is Olive Garden. You've probably been there. They have really great rolls and an endless selection of salads. To me, that says a lot about the expansion of the market.
Listen, you want to wait for McDonald's, right ? This is what you've been waiting for, you've been waiting for chain restaurants. So you don't want to wait for Wendy's to show up? It doesn't work like that, people. Is there anything more discreet than a cruise? We are not Carnival, Norwegian or Royal Caribbean— they are all showing growth right now.
But maybe people really do have a lot of money but little time. It's definitely also a bit of a "postponed vacation" post-COVID. How about a beer for this holiday? How about beer for this diversification? Molson Coors is on the list. I mean, Molson Coors wouldn't be on the leaderboard if people weren't spending money when they went out or bought a case of beer to watch the game.
That's what matters . This is something Tesla has no control over, okay? This doesn't mean you can't buy stocks just because Apple is on the list of new highs. If you have to wait for Walmart to go up another 54 cents to get on the leaderboard, then so be it . I'm sure there will be people who are better at predicting the market as Walmart grows.
I want to get in before Walmart grows. This is something I want to do sooner ...because it's an impressive business, I say, "Why wait?" I know we should have had something representing the auto industry other than Tesla, which is currently invisible. Up 12 days in a row. Okay, how about Snap-on? They produce the best equipment for car diagnostics and repair.
This is more telling than most, although we seem to forget that Tesla is really a car company, not a FANG. We have fintech , like Fair Isaac, the owner of your FICO credit score. So, people should at least check their credit rating before borrowing. What about Moody's? Apparently people issue bonds , at least companies definitely do.
What about healthcare ? You have Dexcom for diabetes, Intuitive Surgical for robotic surgery, Cardinal, and also Amersham Spurling for drug distributors. These are signs that more and more pharmaceuticals are being used. Biogen has its own history, but if you look beyond the S&P 500, you can see dozens of small biotech companies being acquired by large pharmaceutical giants.
Oh, and what about a conglomerate that includes, say , a railroad, several insurance companies, a candy company, and huge stakes in American Express, Coca-Cola, Apple, and a number of oil and gas companies? So, what about Berkshire Hathaway? Maximum diversification. Does n't that count? Does n't it count that they hit a new high on Friday?
I mean, it means something to me. Look, I went into such detail about this for one reason. Of course, most of the profits in this market are indeed concentrated in a few huge technology companies, but that's simply because these companies have very large capitalizations . Their combined strength masks all the positive points I'm talking about.
This is what we trade. This is what we own. Technology is certainly a leading group, but I worry that you might miss out on great opportunities in this market because you're constantly told that concentration is bad and nothing else works until it works. And then there are those people who will never admit that they said, "Oh, you can't be there because nothing else worked." Once it starts working, they disappear.
They will never apologize to you. So remember, when you look beneath the surface of this market, it's not that concentrated. We have a lot of winners outside of the tech sector, which means it might be healthier than you think, okay? Although we could still go down if bad data comes in tomorrow or the Fed says something negative.
I'm not saying you shouldn't sell anything. I never want you to be greedy. I'm saying that if you've been scared to the point of holding a significant portion of your money in cash because of all these theorists on the air, it might be time to buy on the dip. Here is the main conclusion. The power beyond the tech sector is now undeniable.
It's time to open our eyes to what's really going on, instead of being blinded by the glare of big tech companies. Let's move on to Robert from Georgia, please. Robert. Yes, Jim. Thank you for taking my call. Please. And thank you very much for your investing guide. He really helped me with investing in my retirement accounts at home.
This is exactly what I wanted. You have common sense. Yes. I bought it at 150, got into it at 156. It's currently hovering around 121, 122. And I know there's a lot of lawsuits out there. Is it time to get rid of this? No, no, no. Listen, it grew by 31% in a year. We, well, we hosted Stefan Bansel. I think he developed an incredible vaccine template that we will all use someday.
You should not sell these shares. I think you can even buy more Moderna. I believe in not selling so much. How about Katie from Indiana? Katie. Boo-ya, Jim. Hey, Katie. call. OK. Thank you for sharing your knowledge. Um, my question is: what's happening with Dollar General? He fell so hard . Okay, I have to tell you, Katie.
Kathy, when you listen to this conference, it was one of the worst conferences I have ever heard. This company has lost its way. I feel like going to the Dollar General near my home in Pennsylvania and giving someone a hard time . And the guy behind the counter is actually great. It's not his fault.
It's all management. I know everyone wants to focus on the so- called narrow leadership this morning and why this market is not good. They don't know anything. Luckily, this will blind you to all the other names that have been rising in value tonight. We are not wasting your time. I'm talking to the head of a company that turns food waste into eco-friendly products and renewable energy.
Don't miss my conversation with Susan from Darling Ingredients. I'm a little short -tempered, sorry. Salesforce held its AI day , followed by a day in New York, and we were on site learning about the cloud giant's latest developments. And what needs to be done to get MP Materials back on track in the short term?
I'm not sure. Let's get to the heart of the matter at a rare earth materials company with its CEO. with .
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