Cramer’s Morning Take: Fed Decision, Nike, First Republic 03/22/23
Squawk on the Street
CNBC
4.1 • 567 Ratings
🗓️ 22 March 2023
⏱️ 3 minutes
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| 0:00.0 | I'm Jim Kramer and you're about to hear a sample taken directly from today's |
| 0:06.5 | CBC Investing Club morning meeting. |
| 0:10.1 | The Fed is expected to raise.25. |
| 0:13.7 | Yeah, 25 basis points. |
| 0:15.6 | That's the betting favorite right now. |
| 0:18.0 | Still a little ambiguity though into this event. A lot of it is about what they will do |
| 0:23.4 | after the 25. Will they pause for an extended period of time? Will they continue to look for more |
| 0:29.3 | rates? A lot of questions. That's why his press conference at 230, J-PAL, will be so market |
| 0:36.0 | moving. But also I want to express some caution. |
| 0:39.5 | You can never trust the first move whenever you see these numbers. |
| 0:42.9 | There's just so much volatility. It can go back and forth so many different ways. |
| 0:47.9 | Do not take your cue from the market because the market's been wrong. |
| 0:51.3 | It's the top of my show last night. The market's been wrong on a minute-to-minute basis. |
| 0:55.3 | It's just so constantly that you get had so quickly. When Powell speaks during these conferences, we often sit on our hands. Nothing wrong with that. |
| 1:05.0 | Nike last night, up 10, before the market, after market trading. No one waited to the conference call where they talked about that in inventory problem. |
| 1:13.2 | So even though I like Nike Den here, the one thing I would really caution people to understand |
| 1:16.5 | is that people have a, the machines have certain words to be said. |
| 1:21.2 | And if you say something like inflation at higher levels, elevator, if you use this term elevated, |
| 1:26.9 | they sell. Okay, now, right the next word could be, use this term elevated, they sell. |
| 1:28.3 | Okay, now, right the next word could be, but I have great confidence that it's going to be down your rear. Well, they don't hear that. They've already sold. And that's why it's all algorithmic and just forget about it. First Republic is still in the Red Hot Crittle because we don't have any sort of deal yet. deal yet and we also know that they brought in Lazard that's perhaps peter |
| 1:46.1 | oersag who's been working in Washington to be able to try to get |
| 1:48.8 | depositures for all. I think that would, of course, end the crisis. But we don't have an |
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