Taylor Morrison CEO: There's certainly housing demand but we're not seeing the typical spring surge
Sheryl Palmer, Taylor Morrison chairman and CEO, joins CNBC's 'Squawk on the Street' to discuss outlooks on housing, consumer sentiment, and more.
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CNBC
33 minutes ago
- CNBC
Cramer says 'be ready for disappointment' as the White House continues to shape market action
CNBC's Jim Cramer reviewed Monday's market action, chalking up the day's performance to expectations about the White House's next move. He advised that investors prepare for turbulence, even as some on Wall Street continue to have optimism about President Donald Trump's impact on big business. "We have to be ready for disappointment, because we've seen it over and over and over again," he said. "This administration is perfectly willing to disappoint the stock market…to advance their agenda, and it's foolish that you should believe otherwise." According to Cramer, the past two sessions have been shaped by changing notions of trade relations between the U.S. and China. After opening lower on Monday, stocks managed to finish in the green by close. Cramer said Wall Street was encouraged after a senior White House official told CNBC that Trump is set to meet with Chinese President Xi Jinping very soon. Cramer remarked that with one report, "the market did an entire 180." He speculated about whether the president is content to have "a genuine trade peace with China," even as investors are largely hopeful Trump will change course and loosen restrictions on semiconductor exports to the country. But Cramer noted that there are still broader fears pushing a number of stocks down. Dell reported a strong quarter last week. According to Cramer, shares later dipped in part because investors worried about the administration's push to squeeze federal contractors — many of whom buy equipment from the company. Government contractor Booz Allen Hamilton has also seen its stock get crushed, he continued. New tariffs have also spurred the declines of many U.S. outfits with major suppliers abroad, including Gap and Apple, Cramer added. "We're always one posting, one whisper away from rallying or declining," Cramer said. "As long as we recognize that the President's in control of the stock market — at least, when he wants to be — we can make sense of this tape." The White House did not immediately respond to request for comment. Click here to download Jim Cramer's Guide to Investing at no cost to help you build long-term wealth and invest
CNBC
an hour ago
- CNBC
Jim Cramer says steel tariffs are a 'double-edged sword' for industry
CNBC's Jim Cramer on Monday said President Donald Trump's new steel tariffs are a "doubled-edged sword" for domestic producers as he explained why he's not jumping to buy stocks like Nucor. "I'd be much more bullish on Nucor going forward if we just got some clear signals that the overall economy was doing better and that there would be more demand for building things — like cars, homes — and generally more macroeconomic strength," he said. "All of that's more important to Nucor's stock than incrementally higher steel prices courtesy of these tariffs." Trump last week announced he would double tariffs on steel products, raising the duties from 25% to 50%. The news sent stocks in the sector climbing, with Nucor and Steel Dynamics gaining more than 10% and Cleveland-Cliffs popping just over 23%. But these new tariffs alone aren't reason enough to buy steel names like Nucor, Cramer asserted, even as he said he supports the new policy to prevent foreign steel dumping. Cramer said it's not worth paying up for these stocks, and he'd wait for an opportunity to buy on weakness — in part because he's not sure if the new policy will help business immediately. While tariffs on imported steel are usually good for these companies, they're not the only thing that matters for earnings, Cramer continued. For example, he pointed out that Nucor hasn't always been able to hold on to gains following positive tariff developments, as "smokestack stocks are always hostage to the Federal Reserve." Nucor gave up much of its post-election wins at the end of the last year because the central bank paused its rate cutting cycle, Cramer explained. Tariffs are also a mixed development for Nucor, Cramer said. The new duties are positive in that they raise average selling prices, he said. But they're negative in that they're not necessarily good for aggregate demand, he continued, noting that construction projects could be thwarted by higher steel prices. He also emphasized that these steel tariffs come alongside duties slapped on a wide swath of products from around the world, including aluminum, cars and most merchandise from key trading partner China. The threat of even more tariffs still exists, he added, as the 90-day pause on Trump's harsh and wide-reaching "reciprocal tariffs" is technically set to end in July. "Yes, tariffs on steel should be good for Nucor in a vacuum," he said. "But we don't live in a vacuum, people. There are other forces at play here." Nucor did not immediately respond to request for comment. Click here to download Jim Cramer's Guide to Investing at no cost to help you build long-term wealth and invest
CNBC
2 hours ago
- CNBC
CNBC Markets Now: June 2, 2025
CNBC Markets Now provides a look at the day's market moves with commentary and analysis from Michael Santoli, CNBC Senior Markets Commentator.
