Today won't be the last good session we see this week, Jim Cramer told his Mad Money viewers Monday. That's because last week, investors became too negative, and eventually there was no one left to sell. Even Friday's weak jobs report was written off as an anomaly and ignored.
But this week is a different story, Cramer noted, as the markets were spurred on by a 60 Minutes interview Sunday with Federal Reserve chairman Jay Powell, in which Powell reiterated that the Fed is an independent entity and not beholden to President Trump. The rally gained even more steam from two upgrades and a high-profile takeover bid.
Cramer said today's upgrades of both Facebook (FB) and Apple (AAPL) , two Action Alerts PLUS holdings, make perfect sense, even though both upgrades included nothing investors didn't already know. Facebook is not losing members, as some had feared, while Apple continues to have a number of positives going in its favor.
Finally, Cramer noted that Nvidia's (NVDA) $6.9 billion bid for Mellanox puts this company, which had been on defense for weeks, back on offense in the eyes of Wall Street. He expects several upgrades on Nvidia to propel the stock even higher.
Cramer and the AAP team are adding to their position in Home Depot (HD) , using this opportunity to increase their exposure and reduce their overall basis. Find out what they're telling their investment club members and get in on the conversation with a free trial subscription to Action Alerts Plus.
It's Not the Fed, It's the CEOs
On the 10th anniversary of the post-financial crisis bull market, Cramer told viewers that he's sick of meaningless stock anniversaries.
That's because anniversaries tend to bring out a parade of bears who continually complain that this glorious bull market from Dow 6,500 to Dow 25,000 was built solely by the Federal Reserve and little else. But Cramer said he operates at a micro level, where individual companies had become ridiculously cheap and sported incredibly high dividend yield that not only could be easily paid but also were far better than U.S. Treasuries.
Beyond dividend stocks, there were also secular growth companies that didn't need the Fed or interest rates to thrive.
Add these two groups together and it's easy to see why individually companies rallied over the past 10 years. Add enough of these companies together and you get a market with a phenomenal, and well-earned, decade-long march higher.
On Real Money, Cramer explains this decade-old bull market. Get more of his insights with a free trial subscription to Real Money.
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Last week saw a slew of new retail news, news that caused Cramer to re-rank some familiar retail stocks. He said that after a tough fourth quarter, Kohl's (KSS) was finally able to deliver the results everyone expected, including strong earnings, same-store sales and guidance for 2019. Despite the strength, shares trade for less than 12 times earnings with a 3.9% yield.
Cramer remained bullish on Costco (COST) , which saw 6.7% same store sales growth and terrific earnings. Even with shares up a quick 5%, they're still off from their all-time highs six months ago.
Then there's Amazon (AMZN) , which not only has a great, and expanding, partnership with Kohl's, also has its own retail, advertising and web services business to propel its growth.
The only dark cloud this quarter was Kroger (KR) , which posted a four-cents-a-share earnings miss and announced that 2019 will be an "investment year." That's code for the need to spend more to keep up with the competition. Cramer said Kroger is a sell, even at 11 times earnings.
Executive Decision: Veeva Systems
For his "Executive Decision" segment, Cramer again spoke with Peter Gassner, founder and CEO of Veeva Systems (VEEV) , the cloud software provider for the life sciences industry. Shares of Veeva have tripled in just the past two years.
Gassner said that Veeva works with companies big and small, from the largest pharma down to the smallest of biotech. What the industry wants is a common set of highly functional cloud applications and that's what Veeva delivers. He said not only is Veeva saving customer money, but they're also making the $1.7 trillion drug industry more efficient so they can continue their important work even faster.
Gassner continued by noting that Veeva is on track for $1 billion in sales in 2019, a full year ahead of schedule, but they still have a total addressable market of $9 billion and they continue to add new products to their portfolio in order to grow their appeal.
When asked about the wave of mergers in the industry, Gassner noted that companies are willing to pay a premium for innovation and real science, and many smaller companies have just that. Cramer said Veeva owns this market and he remains a buyer.
Off the Tape: AI and Healthcare
In his "Off The Tape" segment, Cramer sat down with Dr. Eric Topol, founder and director at the Scripps Research Translational Institute, to talk about what artificial intelligence means for individualized medicine.
Topol explained that AI can let doctors be doctors by giving them the gift of time. Machines are great at interpreting data, he said, and machines can rescue us from mundane tasks like reading scans and slides and combing through millions of patient records looking for matches and correlations.
So much of our healthcare system is waste, Topol noted. Up to a third of all tests aren't necessary, and we can do a lot better.
That's not to say that AI and algorithms aren't without liabilities, however. Topol said there are real risks of harm and we need to properly address each and every one of them.
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