Apr 6, 2026 · 44 min
Cramer weighs a market bottom against IPO capital risks
Mad Money w/ Jim Cramer 4/6/26
The episode tests whether recent lows can hold as jobs, commodities, policy, and major new listings pull markets in competing directions.
- 1A stronger jobs report and rising commodity prices complicate hopes for near-term interest-rate cuts.
- 2Tesla’s weakening deliveries challenge its core business story while Elon Musk’s future plans continue supporting its valuation.
- 3Anthropic, OpenAI, and SpaceX could attract new investors but also drain capital from existing public-market stocks.
Don't miss
Cramer examines how Tesla’s declining deliveries are colliding with the valuation support provided by Elon Musk’s future plans.
The brief
Jim Cramer opens by asking whether the S&P 500 has found a floor after a low shaped by the Iran conflict, presidential policy, interest rates, and commodity prices.
A stronger March jobs report makes rate cuts harder to anticipate, while changing Federal Reserve leadership and rising commodity prices add uncertainty to the market outlook.
Tesla’s declining deliveries expose a weakening electric-vehicle business, but Elon Musk’s future plans still help support the company’s valuation and investment story.
Sysco executives defend the Restaurant Depot acquisition as a low-cost, Costco-like warehouse strategy with complementary customers, purchasing leverage, and room to expand.
The closing debate turns to Anthropic, OpenAI, and SpaceX: their IPOs could broaden participation while pulling money away from already-listed stocks.
What was said on this episode
37 statements · 21 positive · 12 negative · 1 mixed · 3 neutral
The S&P 500 may have bottomed on March 30.
“It's certainly possible.”
Listen at 0:48
Interest rates caused the recent S&P 500 market bottom.
“the bottom was caused by interest rates.”
Listen at 1:32
The bond market drives the stock market even during wartime.
“the bomb market's in charge of the stock market, even in a time of war.”
Listen at 4:59
Rising oil and interest rates would indicate the market has not bottomed.
“if we see oil go up and rates go up, well, then I think we haven't seen the bottom.”
Listen at 6:55
Stable rates could make last week’s market lows a firm bottom.
“if rates stay tame, then last week's lows could represent a real. firm bottom.”
Listen at 7:00
Bank stocks may be the best purchases if market lows hold.
“the banks, first up, may be the best here.”
Listen at 7:09
Investors should sell BP after its parabolic gain.
“I think it is, actually. I think you've had a really, really good move. It's been a parabolic move. I say ka-ching, ka-ching.”
Listen at 7:31
“I want you to be very optimistic.”
Listen at 8:18
Capital One will eventually merge correctly with Discover.
“They're going to be finally merged correctly with Discover.”
Listen at 8:21
Capital One is Cramer’s favorite stock.
“I think Capital One is my absolute favorite stock”
Listen at 8:33
Verizon is improving and beginning to rise.
“Verizon's actually got some game here. It's got a new CEO. It's starting to move up.”
Listen at 9:04
Verizon is one of the best investment ideas available.
“I think you've got a good idea. I'm not kidding. One of the best ideas around, frankly.”
Listen at 9:12
Downward jobs revisions could preserve the case for large rate cuts.
“I do think we could see some revisions downward, which is why I don't think the big rate cut thesis should disappear.”
Listen at 13:52
AI has not yet caused large job losses.
“I don't see big job losses yet because of it.”
Listen at 14:59
Healthy job creation and supply shortages make Fed rate cuts harder to justify.
“it's very hard to convince the Open Market Committee to cut rates when we've got healthy job creation and all sorts of supply shortages.”
Listen at 15:28
A healthy labor market will make Kevin Warsh’s rate cuts difficult.
“As long as the labor market looks OK, it'll be very difficult for Kevin Warsh to gift us with those rate cuts.”
Listen at 16:21
Tesla’s electric-car business has declined for years.
“The core business, electric cars, has been in decline for years.”
Listen at 17:08
SpaceX’s IPO will offer investors a more exciting way to invest in Musk’s vision.
“once SpaceX comes public later this year, I think people are going to have a much more exciting way to play Elon Musk's vision.”
Listen at 17:24
Tesla shares fell after disappointing delivery results.
“Tesla fell 5.4% last Thursday in response to disappointing deliveries.”
Listen at 20:07
Tesla stock will keep declining absent robo-taxi progress or an auto-business recovery.
“I expect the stock to keep drifting lower until they either make more progress in robo-taxis or the core business finally turns around.”
Listen at 23:23
GE Aerospace is a buy, though Boeing offers more upside.
“I think the stock is a buy. I do like Boeing more because Boeing is a little more depressed.”
Listen at 24:22
Tesla stock could continue declining.
“I think the stock could keep going lower.”
Listen at 24:34
Sysco stock is undervalued after its sell-off.
“I think this stock's such a steal after the sell off.”
Listen at 26:05
Sysco stock is a great buying opportunity.
“I'm a believer in what a great opportunity to buy this stock.”
Listen at 35:04
SATS remains a great proxy for SpaceX.
“I still think it is a great proxy.”
Listen at 36:25
Investors should not buy The Metals Company.
“Don't buy it.”
Listen at 36:51
Investors should buy Enbridge even if its price declines.
“Buy some and hope it goes lower. That's how good it is.”
Listen at 37:29
Nebius is winning many orders and performing well.
“they're winning a lot of orders. I think they do a good job.”
Listen at 38:04
Nebius is respected, though Cramer prefers CoreWeave.
“I like CoreWeave more, but Nebius is actually a very respected company.”
Listen at 38:06
Planet Labs performs extraordinarily well.
“I think that they do an extraordinary job.”
Listen at 38:38
Investors should hold Planet Labs as it may soon become profitable.
“I would stay long, and I think they're breaking into the black soon.”
Listen at 38:46
BGC appears undervalued.
“it does seem too cheap to me.”
Listen at 39:35
Mega IPOs will attract new investors to the stock market.
“I think they'll bring people into the market who've stayed away or never even thought of owning stocks.”
Listen at 40:37
Mega IPOs might divert capital from existing public-market stocks.
“they might suck the capital out of the stock market.”
Listen at 40:51
SpaceX might be valued at up to $2 trillion.
“I think it might be worth as much as $2 trillion.”
Listen at 41:21
An immediate SpaceX S&P 500 inclusion could pull hundreds of billions from other stocks.
“The rebalancing could draw out hundreds of billions of dollars for the rest of the market.”
Listen at 42:54
Excess stock supply, rather than events, typically ends bull markets.
“Bull markets rarely get killed by events, no matter how dire. Instead, bulls are killed by excess stock supply.”
Listen at 43:08
Statements are attributed to the speaker as said on the episode and reflect their view at the time, not PodLume's. They are not advice.
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