Jul 1, 2026 · 44 min
Cramer weighs dollar strength against the next market winners
Mad Money w/ Jim Cramer 7/1/26
The episode connects currency moves, IPO supply, sector rotation, and speculative stocks to the harder question of where investors may still find durable growth.
- 1A stronger dollar may restrain gold and oil while lowering import costs and easing inflation pressures.
- 2Cramer sees IPO oversupply as a potential threat to market momentum, especially after several unusually large deals.
- 3Moderna’s recovery and the Lightning Round frame the challenge of identifying powerful trends before their winners become obvious.
Don't miss
Cramer uses a viewer’s wealth-building NVIDIA story to argue that investors must recognize major trends before future winners become obvious.
The brief
Jim Cramer opens with the quarter’s rotation from market winners into underperformers, then broadens the discussion to how investors can recognize durable opportunities before consensus catches up.
A buy now, pay later stock’s rapid revenue growth and major earnings beat prompt a debate over market dominance and whether high growth can justify the investment case.
Cramer likes NextEra Energy but warns against holding losers indefinitely, while his IPO analysis argues that too much new supply can overwhelm demand and damage a bull market.
With Carley Garner, Cramer examines the dollar’s rally and its pressure on gold and oil, while noting that currency strength can reduce import costs and help contain inflation.
Moderna’s post-COVID recovery leads into calls on NuScale Power, GE Vernova, Medline, and AST SpaceMobile, separating speculative bets from a safer industrial choice.
The closing lesson comes through a viewer who built wealth after an early NVIDIA recommendation: powerful trends reward recognition, while missed winners expose the cost of hesitation.
What was said on this episode
43 statements · 23 positive · 16 negative · 3 mixed · 1 neutral
Beginning-of-quarter rotations usually burn out after a day or two.
“Historically, the latter is the more likely outcome.”
Listen at 1:08
Meta’s cloud business will be instantly profitable and support further stock gains.
“I think it's got more room to run, because their cloud business will be instantly profitable.”
Listen at 1:42
Meta’s enterprise cloud infrastructure model is better and less episodic than advertising.
“The enterprise-oriented cloud infrastructure game represents a much better, less episodic business model.”
Listen at 2:04
AI platforms are reducing jobs among users of Salesforce and ServiceNow products.
“I believe AI is cutting a lot of jobs at potential and actual users of their products.”
Listen at 2:33
Salesforce and ServiceNow’s recent gains may be temporary.
“They may be ephemeral.”
Listen at 2:51
Palantir is the only enterprise software stock Cramer currently trusts.
“The only one right now that I actually trust is Palantir.”
Listen at 3:15
Goldman Sachs fund withdrawals indicate private-equity stocks have exited their difficulties.
“I think this wins a sign that the private equity stocks are at last out of the woods.”
Listen at 3:50
Investors should avoid Blue Owl and buy Blackstone instead.
“I'd still avoid Blue Owl. Too risky. Go buy Blackstone instead.”
Listen at 4:02
Packaged-food structural headwinds will persist.
“That's not going to change.”
Listen at 4:52
CVS’s recent gains will persist.
“I bet the gains in CVS will be long-lasting.”
Listen at 5:10
UnitedHealth is attractive at its current level.
“I like UnitedHealth very much here.”
Listen at 5:13
The regular-insurance industry is likely to consolidate.
“This industry is ripe for consolidation, people.”
Listen at 5:41
Anthropic’s Mythos will generate significant business for CrowdStrike and Palo Alto Networks.
“Mythos will generate a meaningful amount of business for two charitable trust stocks, CrowdStrike, hey, all-time high today, Palo Alto Networks.”
Listen at 6:06
Nike’s stock will stall because earnings growth is absent.
“I expect it to stall out as there's no earnings bump going forward.”
Listen at 6:31
Fiber could replace copper throughout data centers.
“The fiber could replace copper in all these data centers.”
Listen at 7:28
Investors should buy AMD during the current dip.
“I like AMD on this dip.”
Listen at 7:37
Semiconductor equipment capacity will take years to alleviate the chip shortage.
“It'll take years and years to build enough of this machinery to alleviate the shortage.”
Listen at 8:00
The claim that lower gasoline prices will reduce Walmart shopping is wrong.
“I think that's nonsense.”
Listen at 8:18
The current market rotation is a buying opportunity in strong stocks.
“I bet this is one of those breaks.”
Listen at 8:54
Affirm’s stock will rise directly to $100.
“I think a firm's going straight shot. One hundred dollars.”
Listen at 10:16
Investors should buy NextEra when its decline produces approximately a 3% yield.
“I would use this decline. to about a 3% yield to jump in the next turn.”
Listen at 11:28
Excessive IPO supply eventually overwhelms demand and damages a bull market.
“Once we get too many deals, sooner or later, the new stock supply overwhelms the demand and the bull market gets sent to the slaughterhouse.”
Listen at 13:03
Newly public stocks gained 42% on average during the second quarter.
“Newly public stocks, they climbed 42% on average in the second quarter, trouncing the major averages.”
Listen at 14:25
Buying hot stocks immediately after IPOs tends to produce poor outcomes.
“Buy hot stocks right after they come public tends to be a recipe for disaster.”
Listen at 15:37
OpenAI will not go public during 2026.
“My belief, by the way, is that OpenAI doesn't come public this year.”
Listen at 18:51
OpenAI could merge with Microsoft if its IPO is delayed.
“a merger with Microsoft, which has a big stake in the company, could be possible.”
Listen at 18:57
A stronger dollar pressures commodities and internationally exposed stocks.
“Remember, that's a headwind for most commodities and most stocks, particularly, of course, the companies that are. international in their commerce.”
Listen at 23:13
Oil prices will decline even if a short squeeze occurs.
“People, it is going lower, even if we have that short squeeze.”
Listen at 28:14
Investors should not open a position in Oracle now.
“Absolutely not.”
Listen at 28:25
Oracle’s data-center construction expansion is outside its core strength.
“I think they got into this data center building and it's not their strength.”
Listen at 28:38
Agnico Eagle’s stock has further downside because gold may decline.
“I still think it has a little further to fall.”
Listen at 29:20
Moderna’s rally and business recovery are genuine.
“I think the rally's for real. I think the company's for real.”
Listen at 31:16
The FDA is likely to approve Moderna’s latest flu vaccine on August 5.
“it's looking like the FDA is going to approve this thing August 5th.”
Listen at 31:44
Moderna has oncology products in Phase 2 or Phase 3 trials across four cancers.
“The company has products in Phase 3 or Phase 2 trials for the treatment of melanoma, non-small cell lung cancer, renal cell cancer, and bladder cancer.”
Listen at 33:39
Moderna is investable again after its turnaround progress.
“The truth is, Moderna finally feels investable again.”
Listen at 36:07
Investors should wait for a pullback before buying Moderna.
“That said, I recommend waiting for a pullback.”
Listen at 36:11
NuScale Power is too speculative for Cramer.
“It's too speculative for me.”
Listen at 37:34
GE Vernova is safer than NuScale Power.
“GEV is safer.”
Listen at 37:41
Medline’s recent performance is probably the year’s best IPO and may continue.
“That is probably the best IP of the year. We're not done.”
Listen at 38:26
AST SpaceMobile could become profitable within two years and merits buying.
“I think it can make money in two years. I would go for it.”
Listen at 39:03
Micron has become a secular rather than cyclical growth company.
“Micron's become a secular growth story, not a cyclical story.”
Listen at 41:25
Data-center memory demand is causing the severe chip shortage.
“The chip shortage is so severe because of the data center memory demand.”
Listen at 41:28
Micron has secured strong pricing for multiple future years.
“This company's been able to lock in excellent pricing for multiple years to come.”
Listen at 41:31
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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