The dow and s p closing at record levels, the 32nd record close in 2017 for the dow, the first record close in more than a month. What is left to buy . Weve got some ideas we start with the breaking news, the biggest day for apple in the last ten years the expect unveiling its new iphones, lets get straight to josh lipton at apple headquarters reporter hi, melissa the new iphone finally getting revealed today, the iphone x ceo tim cook was on stage, he introduced the device right behind me here at the steve jobs theater in cupertino take a listen. We do have one more thing this is iphone x it is the biggest leap forward since the original iphone. Reporter among the new features, an edge to edge 5. 8 inch oled display. No more touch i. D. , instead facial recognition to unlock the device apple says that is more secure than touch i. D well wait and see whether consumers agree. New and improved camera system when you looked at surveys at what people were looking for, an improved camera wa
Whats right for the economy when it sees fit and may or may not be patient depending on whether patience is required or warranted. The dow gained and the s p gained 2. 22 and the nasdaq. So we go back to what brought us up here profit outlooks opportunity, and most important, pentup demand. No not pentup demand for laborer sales or new homes. Pentup demand for stocks. As so many Portfolio Managers wanted to be sure the fed wasnt going to create another they know nothing moment and crash stocks lower. Yep, weve become binary again, hanging on every word from the fed, hoping and praying it wont do something stupid. While we were hoping and praying the money stacks up on the sidelines and the hedge fund and Mutual Fund Managers along with the pension Fund Managers, theyre just waiting to hear with the fed will blow it. When the fed doesnt blow it and the big bad event is over, we rally like crazy you would think that we would eventually have some faith in the fed not to do the wrong thing
How can people take this anymore . You simply cant make any money in any asset class. Particularly in bonds where the rates are so, so slow, or to be able to pay for tuition. Bonds cant pay that tuition. Youve got to own stocks. You know what you need, though . You need a survival handbook and thats what im giving you tonight. Scandals are not new to wall street. Stock markets, mechanisms havent always been smooth. The 87 market crash, i traded through that. It didnt have anything to do with the economy. It looked like the economy was going to get weak because of the crash. It didnt. It was strong. That said, we do seem to have really ratcheted up the unfairness in the last couple of years. Who can forget, for instance, the hideous event that was the longawaited facebook fiasco in may of 2012 . This was a once of a lifetime opportunity. A company has sterling reputation, a love product. Management quirky but no more quirky than google. Everyone in it had already gotten rich. The compan
Im jim cramer. Welcome to my world. You need to get in the game. Hes nuts they are nuts . They know nothing. I always like to say theres a bull market somewhere. Mad money, you cant afford to miss it. Hey, im cramer. Welcome to mad money. Welcome to kram america. My job is not just to entertain you but to educate and teach you what to do in this wild and positive market. Call me. 1800743cnbc. Bus Warren Buffett have to come to your house and lay out the game plan of stocks to buy in order for you to get into this stock market . Is that what has to happen to move this market to alltime highs . Something it failed to do today . S p climbed and nasdaq advanced. Perhaps without you . Think about it. Heres the worlds greatest investor, certainly more than government bonds and can be barely heard about chinese real estate and of course the sequester. No matter. Buffett tells you not to focus on those things but the businesses themselves. Like we say all the time, he doesnt want to sidetrack,