Stock futures were rising Friday as the U.S. economy added more-than-expected new jobs last month, while wages came in below forecasts.
TheStreet Founder Jim Cramer shared his thoughts with Action Alerts PLUS senior analyst Jeff Marks about what to expect in the second half.
With apologies to Charles Dickens, Cramer said the first half of the year "was a tale of many cities."
The Second Half: AMD, Bed Bath & Beyond
"You have a big run of the banks and then they would rest and give back a little," Cramer said. "A big run of pharma and they’d rest and give back a little. A big run of industrials. … Oil was the only thing that just kept going."
Cramer said the second half will mirror the first half.
"We have banks coming alive," he said, "we have pharma coming alive. But no semis are down."
Cramer repeated his love for Nvidia (NVDA) - Get NVIDIA Corporation Report and noted that BMO Capital Markets analyst Ambrish Srivastava raised his price target on the chip titan to $1,000 from $750 and affirmed an outperform rating.
"I don’t want to brag because it’s not becoming," he said, "but we voted up Advanced Micro Systems because we believed in Lisa Su and everyone again thought she was going to be buried by Intel (INTC) - Get Intel Corporation (INTC) Report and took the stock down to $79."
Cramer than shifted from Dickens to "Star Trek," reciting the Klingon proverb "revenge is a dish best served cold."
Bed Bath & Beyond: 'A Recovery Stock'
Cramer noted that home-goods retailer Bed Bath & Beyond (BBBY) - Get Bed Bath & Beyond Inc. Report, which on Wednesday posted softer-than-expected fiscal-first-quarter earnings and boosted its full-year profit guidance, is still heavily shorted.
"It is not a meme stock," he said. "It is a recovery stock."
"I completely agree," Marks said. "This is a position we initiated last week and it's been pretty good so far. A couple of analysts raised our price target shortly after we initiated coverage, which we always like to see."
Advanced Micro Devices, American Eagle Outfitters and Nvidia are holdings in Jim Cramer's Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells these stocks? Learn more now.