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Squawk on the Street

Cramer's Morning Take: Interest Rates 9/5/23

Squawk on the Street

CNBC

Investing, Business, News

4.1567 Ratings

🗓️ 5 September 2023

⏱️ 3 minutes

🧾️ Download transcript

Summary

Jim Cramer and Jeff Marks discuss why interest rates going higher is driving the market down. Become a CNBC Investing Club member to go behind the scenes with Jim Cramer and Jeff Marks as they talk candidly about the market’s biggest headlines. Signup here: cnbc.com/morningtake CNBC Investing Club Disclaimer

Transcript

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0:00.0

I'm Jim Kramer, and you're about to hear a sample taken directly from today's CBC Investing Club morning meeting.

0:09.6

Jeff, we do have a market that's getting overbought.

0:12.3

We know that have the oscillator deal that does matter for those who subscribe, but we were plus three more.

0:19.3

And what I think is interesting, if you take a look at my weekly bulletin,

0:23.7

rates are going higher again.

0:25.3

Yeah.

0:25.7

And that's really what's driving this market down.

0:28.7

Great.

0:29.2

Yeah, that comes even after a jobs number last Friday

0:32.4

where you had unemployment ticked up.

0:34.8

Now, that's also because the labor force participant was also up.

0:38.1

But it seems to be a cooling of job hiring, maybe not a lot of layoffs substantial, but the hiring

0:46.0

has a little bit of slow down. Wages was also a little bit slower, too. And oil?

0:51.8

You know, people are worried. Now, oil's won off, but I will tell you that this pioneer is working.

0:57.3

And we said that was the one.

0:59.2

He's got the lowest cost.

1:00.7

I really like it.

1:01.9

But overall, if you take a look today at Atoll Brothers, you take a look today at the companies that are infrastructure,

1:08.7

Volcan and Martin Marietta, they are also, when you speak with those companies, and I know Ward and I pretty well at Martin Marietta, they are also, when you speak

1:12.0

with those companies, and I know Ward and I pretty well at Martin Mariana, they have the biggest

1:16.2

business is the stones that you need for housing developments. And you see toll down a lot now,

1:23.4

you see Lenard down a lot. People are saying that housing's being hurt by what could be a 9% mortgage when you get to the, to 5%.

...

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