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Ethereum Network Growth - Ethereum's real economy experienced a growth rate three times faster than the price of ETH [1] - The supply of stablecoins on Ethereum has increased by 6,550% since 2020, indicating strong real-world demand [1] - ETH's fully diluted market cap increased by 2,060% over the same period, lagging behind the chain's economic engine growth [1] Market Valuation - The current gap between economic activity and price valuation is unlikely to persist indefinitely, suggesting potential for price appreciation [2]

Hey I'm Cramer. Welcome to Mad Money. Welcome to Cramer aka how to make friends I'm just trying to make you some money.My job is not just to teach and entertain but to do some education. Call me one 800 743 CNBC or tweet me at Jim Cramer. We keep wondering what would it take to make people start focusing on all the other stocks in what I call the real economy, instead of just the speculative stocks in the AI data center stocks.Well, today we found out you need to see a big tech company screw up and then get ...

Market Trends & Investment Opportunities - The market shows a sense that many stocks have gotten ahead of themselves after a strong rally [1] - Profit-taking is impacting stock prices, even when companies report terrific quarters [3] - Data center stocks are expected to rebound, while real economy stocks are seen as having low bars for rallying [19] - Speculative stocks are facing challenges due to companies raising money and insiders selling shares [17][18] - Intuitive Surgical rallied nearly 14% due to strong double-digit co-procedure growth, driven by after-hours use, indicating greater leverage of fixed costs [14] Company Performance & Financials - GE Vernova showed excellent order growth, integral to feeding data centers' extreme electricity needs [6] - Thermofisher Scientific reported a better-than-expected quarter with accelerating organic revenue growth of 5% in Q3 [29][33] - Vertiv reported strong organic orders, up 60% year-over-year, with backlog up 30% year-on-year to $95 billion [12][80] - Netflix's Q3 revenue was up 172% year-over-year, but operating income was slightly light due to a $619 million Brazilian tax dispute [52] - Thermofisher Scientific China revenue is about 7% of the company's revenue, with strength in pharma and biotech [42] Strategy & Future Outlook - Thermofisher Scientific is collaborating with OpenAI to improve the drug development process [31][36] - Thermofisher Scientific is investing $15 billion in US manufacturing, primarily for pharmaceuticals, benefiting from reshoring trends [44] - Vertiv's acquisition of Great Lakes strengthens its portfolio in the white space of data centers [84] - Netflix's advertising business is growing rapidly, with potential for further price increases [68]

Core Viewpoint - The recent performance of various companies outside the tech sector indicates a robust real economy, which contrasts with the perception of a market dominated by a few major tech firms. This has led to a rally in the Dow Jones Industrial Average, suggesting that there is strength in the broader economy despite concerns about speculative stocks and potential market risks [2][21]. Company Performance - Wells Fargo reported strong credit quality, while Bank of America highlighted robust consumer spending and saving rates [7][11]. - American Express showed significant spending among younger demographics, indicating solid credit metrics [8]. - RTX (Raytheon Technologies) delivered impressive earnings due to increased demand for military systems and aircraft services, rallying 7% [12][21]. - 3M launched 70 new products in the third quarter, leading to a stock increase of 7.66% as the company returns to innovation [14][15]. - GE Aerospace reported strong numbers in commercial jet engines and aircraft services, with expectations for continued strong performance [16]. - General Motors experienced strong demand for trucks, benefiting from a favorable regulatory environment under the current administration [17]. - Danaher provided a promising quarter, suggesting potential for stronger performance in the upcoming year, resulting in a nearly 6% stock increase [19]. - Coca-Cola's CEO reported larger profits through market share gains and successful new product launches, demonstrating resilience in the face of economic slowdown [20]. Market Dynamics - The concentration of major tech companies in the S&P 500, which accounts for about 35% of the index, raises concerns about market stability and the potential for speculative bubbles [4]. - The perception of a dual economy, with a divide between high-growth tech firms and traditional industries, is prevalent, but recent earnings suggest a more balanced economic landscape [3][5]. - The overall market rally led by companies in the real economy, such as RTX, GE Aerospace, and 3M, indicates positive momentum outside the tech sector [21].

Market Overview & Investment Strategy - The market is perceived as dominated by data center-related companies and speculative ventures, leading to concerns about concentration and risk [3][4] - A "real economy" exists beyond AI and speculative stocks, offering potential investment opportunities if it shows signs of life [5][6] - The speaker suggests that strong performance from companies in the "real economy" can drive market rallies [6][21] - Parabolic moves in stocks like Micron should be avoided; investors should wait for pullbacks before buying [26] Financial Sector Performance - Wells Fargo showed strong credit quality, and Bank of America indicated robust consumer spending and saving [7] - BlackRock and Morgan Stanley reported extraordinary savings numbers [7] - Goldman Sachs is seeing positive signs from IPO and M&A advisory fees [7] - American Express reported robust spending among younger people and solid credit metrics [8] - Regional banks need lower interest rates to improve business [8] - Concerns about credit quality exist, but fewer bad loans were observed this quarter [9][10] Company-Specific Highlights - RTX (formerly Raytheon) is experiencing strong performance due to demand for military systems and missile replenishment, with the stock rallying 12.7% [12][13][14] - 3M is innovating again, launching 70 new products in Q3 and 196 year-to-date, with the stock rallying 7.66% [14][15] - GE Aerospace is delivering stellar results in commercial jet engines and aircraft service [16] - General Motors is benefiting from strong truck demand and a less stringent attitude toward carbon emissions, though EVs are less profitable [17][18] - Danaher (DHR) delivered a strong quarter, with expectations for an even stronger next year, leading to a nearly 6% stock increase [18][19] - Coca-Cola is showing remarkable execution, increasing profits through market share gains and new product offerings [20]

Market Overview - The market is perceived to be dominated by companies connected to data center buildout and speculative ventures [2] - The "Magnificent Seven" stocks constitute approximately 35% of the S&P 500, raising concerns about market concentration [3] - The market is divided between data center-related companies and speculative ventures, causing unease among investors [4] Economic Indicators - Positive economic data from actual businesses, not just those related to AI and data centers, led to a Dow rally of 218 points [1] - The NASDAQ, heavily influenced by AI stocks, experienced a slight dip of 0.16% [1] - The emergence of a "real economy" showing signs of life could attract significant investment [6] Potential Risks - Concerns exist regarding the ability of companies like OpenAI to secure funding for data center expansion, potentially impacting the AI sector [5] - Over-speculation in areas like uranium companies and quantum computing firms raises concerns about market stability [4]

Market Sentiment & Investment Strategy - The market's fourth year is marked by skepticism towards the bull market, despite its continued success [1] - Buying the dips has historically proven profitable for investors [2] - Skeptics are missing out on market gains [3] - Pessimism and media negativity obscure the positive performance of individual companies within the S&P 500 [4][5] Economic Outlook & Key Indicators - Upcoming earnings reports are expected to be better than anticipated [6] - Cleveland Cliff's report is crucial for assessing the real economy's strength [6] - The economy is divided into three sectors: data center, speculative (showing insider selling), and the real economy, which relies on Federal Reserve rate cuts [6] Market Performance - The Dow Jones Industrial Average increased by 238 points [3] - The S&P 500 climbed by 053% [3] - The NASDAQ rose by 052% [3] - A strong quarter from American Express fueled a rally, countering expectations of a decline due to bad bank loans [4]

Market Overview & Economic Factors - The market experienced a volatile day, initially declining due to speculative stocks being "clobbered," but then recovering after Federal Reserve Chairman J Pal hinted at potential economic support [2][3] - President's antagonistic post regarding China talks erased a significant portion of the market's gains [4] - The real economy, particularly bank stocks and housing-related sectors, showed strength, contrasting with the artificial intelligence economy [5][12][13] - Tariffs and uncertainties surrounding trade with China, including potential restrictions on Chinese cooking oil, created anxiety in the market [8][9] - Lack of reliable data due to a federal government shutdown makes it difficult to assess the true state of the economy [9][10] Company Specific Analysis - Wells Fargo, after the lifting of an asset cap, is demonstrating tremendous earnings power and is seen as a metaphor for the real economy, with its stock leading the S&P 500 with a 7% gain [11][12] - Builder First Source is performing well, indicating a potentially improving housing market [13] - Home Depot and Lowe's experienced a rebound, reflecting strength in the real economy [14] - AMD won a significant order from Oracle for data center chips, impacting Nvidia's stock performance [15] - Walmart and ChatGPT are collaborating on a new e-commerce initiative, intensifying competition in the AI data center space [16] Federal Reserve & Monetary Policy - The Federal Reserve's potential intervention and halting of bond selling are expected to lower mortgage rates, benefiting the housing market [6][7] - The market anticipates further interest rate cuts by the Federal Reserve [6] Investment Strategy & Outlook - The market may need a dose of the real economy, and a rally driven by real economy sectors is desirable [17][22] - The market had become overheated and could benefit from a shift away from speculative sectors [17] - The speaker expresses a preference for a market led by banks rather than the data center and speculative stories [16] - Dover's stock has been disappointing, but the speaker suggests buying more, citing the company's strong management and buyback potential [20][21]

Market Overview - The market experienced significant volatility, with speculative stocks facing heavy losses, leading to a poor opening for tech stocks [2][4] - Federal Reserve Chairman J. Powell indicated the economy may require further assistance, which initially boosted the market, particularly bank stocks [3][6] - The Dow finished up 203 points, while the S&P 500 dipped by 0.16% and the NASDAQ fell by 76 points, reflecting mixed performance across sectors [4] Economic Indicators - The real economy is showing signs of recovery, particularly in the banking sector, which is crucial for overall economic health [3][10] - Powell's comments about potential interest rate cuts and halting bond selling could lead to lower mortgage rates, positively impacting the housing market [6][7] - Ongoing trade tensions, particularly with China, are creating uncertainty and affecting market performance [8][9] Company Performance - Wells Fargo, under CEO Charlie Scharf, is positioned for growth following the lifting of an asset cap, leading to a 7% gain in its stock, which outperformed the S&P 500 [12] - Builder FirstSource is benefiting from a recovering housing market, indicating potential for further growth in the sector [13] - Home Depot and Lowe's saw a rebound in stock prices, reflecting positive trends in the real economy [14] Technology Sector - The technology sector is facing challenges, with Nvidia's stock declining while AMD gained from a significant order from Oracle, highlighting competitive pressures in the data center market [15][16] - Walmart's partnership with ChatGPT for e-commerce initiatives has negatively impacted Amazon's stock, indicating increased competition in the AI and e-commerce space [16] Conclusion - The market is currently experiencing a shift towards the real economy, with banks leading the way, while speculative tech stocks are under pressure [17][22] - Future market performance may depend on the resolution of trade tensions and the Federal Reserve's monetary policy decisions [17][18]