Crypto exchange Bullish surges in public debut: CNBC Crypto World
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CNBC
an hour ago
- CNBC
'Don't quit the market' when it's frothy, says Jim Cramer. Here's why
CNBC's Jim Cramer on Thursday said that although the market may be frothy, investors shouldn't quit because there are enough positive stock stories to overwhelm the froth with rationality. Cramer used the dotcom bubble burst as an example. During that time in the late 1990s, he said froth involved the market's continuous roar based on, at best, hype. Stocks rallied for no real reason, markets lost their rational side and companies ended up with no revenue or business plan. Cramer said today's market is vastly different because the rational outweighs the irrational. On the irrational front, Cramer pointed to recent IPOs such as Circle, Figma and Bullish, that each saw explosive gains after their debuts. Bullish, a crypto exchange, most recently gained more than 83% during Wednesday's trading hours. While it pulled back from its highs, it still rallied another 10% on Thursday. Cramer cited Oklo Inc. as another example. The company wants to build a small nuclear reactor that runs on nuclear waste. That stock is up 247% year-to-date. "Flying cars, supercharged crypto ETFs, secretive companies that consult in magical ways ... all irrational. I could go on and on," Cramer said. "Is the widespread irrationality a reason to sell down your positions in perfectly rational stocks? Absolutely not." On the other side, Cramer said Amazon and Eli Lilly are two examples of rationality. Amazon on Thursday gained 3% after the company on Wednesday launched same-day delivery of fresh foods to more than 1,000 U.S. cities and towns. Cramer called Amazon's announcement "an incredibly disruptive initiative" and said it could spell trouble for Instacart, Doordash and Uber. Instacart stock dropped 11% on the news on Wednesday. Eli Lilly also saw a sign of confidence on Wednesday, Cramer noted, when an influential group from the drugmaker's management and board of directors bought up stock in the open market. "Sure, there's froth, but there are also perfectly legitimate moves in the stocks of great companies," Cramer said. "I am calling this the year of magical thinking, but the truth is you can't get the runs in the good ones without the runs in the bad ones." 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
S&P 500 futures are little changed after benchmark notches another all-time high: Live updates
Traders work on the floor of the New York Stock Exchange (NYSE) on August 12, 2025 in New York City. Spencer Platt | Getty Images S&P 500 futures are near flat Thursday night following the benchmark index's third straight record close. Futures tied to the benchmark index ticked down 0.1%, while Nasdaq 100 futures shed 0.2%. Dow Jones Industrial Average futures rose 131 points, or 0.3%. UnitedHealth rallied more than 9% after Warren Buffett's Berkshire Hathaway and Michael Burry's Scion Asset Management announced positions in the insurer. Intel popped more than 3% following a Bloomberg report that the Trump administration is in discussions to have the U.S. government take a stake. Thursday night's action comes after the S&P 500 was able to set a fresh all-time closing high with a narrow gain. The Dow and Nasdaq Composite , on the other hand, fell marginally in the session. Stocks were largely able to erase losses seen earlier in the session after July's producer price index came in hotter than expected. That threw some cold water on the investor euphoria that followed the consumer price index earlier in the week. "I don't think that one data point is enough to change a thesis around the trajectory of inflation," said Tom Lee, head of research at Fundstrat Global Advisors. "Our base case remains that this is going to ultimately be viewed as transitory by the market." The Dow has led the way this week, rising 1.7% week to date. The S&P 500 and Nasdaq have each added around 1.2%. Small caps have outperformed, with the Russell 2000 climbing more than 3%. Investors on Friday will monitor economic data on import prices, consumer sentiment and retail sales. S&P 500 futures were little changed shortly after 6 p.m. ET. Dow futures rose 0.3%, while Nasdaq 100 futures ticked down 0.2%. — Alex Harring
Yahoo
2 hours ago
- Yahoo
Bullish Raises $1.1 Billion in IPO Priced Over Range
Bullish raised $1.1 billion in an initial public offering, pricing its shares above the marketed range. Bailey Lipschultz has more on "Bloomberg Open Interest." Sign in to access your portfolio
