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The war against the U.S. dollar might be over, Jim Cramer told his Mad Money viewers Wednesday. He praised the Federal Reserve for taking a "common sense" approach to interest rates by only taking action when needed.
The Fed acknowledged in its statement Wednesday that taking rates any higher would create an uneven playing field for the rest of the world, which is currently taking rates lower. The dollar immediately plunged on the news, and Cramer said that will mean good things for a host of companies.
Among the winners in a lower-dollar environment are the tech stocks, which sell a lot into Europe. Cramer called out Oracle (ORCL) for its 3.8% rally today and said that all of the cloud stocks, including Workday (WDAY) are more attractive.
The war against the dollar has been a big deal, Cramer concluded, and now that it may be taking a pause it's an even bigger deal.
Give Munoz a Chance
On the heels of the news that United Continental (UAL) CEO Oscar Munoz is returning to work after a heart transplant, activist investors have announced they'd like to see big changes at the airline. Do they have a point?
According to the activist's report, United is the worst-performing airline stock over the past five years, the "entrenched" board of directors lacks experience and the company needs a course correction.
Cramer said in addition to the incredibly poor timing of their announcement, the activists do have a point about United lagging its peers over the past five years. However, looking back just seven years, shares are up 1,470%. Not too shabby.
As for that board of directors, Cramer said it just appointed three new independent directors, with most directors having served for less than four years. That's not quite "entrenched," said Cramer.
Regarding the final point, needing a new course, Cramer said United's CEO Munoz is that new course. His heart attack and subsequent recovery time away were unfortunate, he said, but let's at least give the guy a chance before making frivolous accusations.