'Mad Money' host Jim Cramer talks the state of play in the current market.

Wall Street

Jim Cramer, host of CNBC's Mad Money, addressed concerns about recent political controversies, including President Trump's attempt to fire Federal Reserve Governor Lisa Cook and alleged mortgage fraud. Cramer argued that such events, while noteworthy, have little direct impact on the performance of major stocks like Nvidia. He emphasized that investors should focus on company fundamentals and market trends rather than reacting to political headlines, which often do not affect stock prices.

Cramer reiterated his support for owning Nvidia, citing strong demand for its chips and the company's role in artificial intelligence. He also discussed other stocks such as Eli Lilly and Palo Alto Networks, maintaining that his primary goal is to help viewers make informed investment decisions. Cramer concluded by stating that while political developments are important, they should not distract investors from the underlying value and performance of good stocks.

I don't want to scare anyone away from a very good stock market, says Jim Cramer

Hey, I'm Kramer, welcome to Mad Money. Welcome to Kramer Art. I'll do my friends. I'm just trying to make you a little money. My job is not just to entertain, but to explain, put in context. Call me at 1-800-743-CBC, tweet me at Jim Kramer. We want to have a conscience. We want to make a judgment about what the president's doing, whether or not it's right. When he does something outrageous, we can lament, complain, shrug our shoulders. But the one thing we can't do is sell the stock of NVIDIA because of President Trump's attempt to fire Lisa Cook, a Federal Reserve governor. What might or might not be mortgage fraud? Yes, I know that sounded flip, but deal with me. On a day where the Dow gained 136 points, the S&P climbed 0.4 percent, the Nasdaq advanced 0.44 percent. All I heard today was people wondering if the market should be rallying when the president is trying to fire a Fed governor, which is supposed to be illegal. The cognoscenti want to say it's wrong, wrong for stocks to go higher, too, when the White House is threatening the Fed's independence. And look, I get that. I want an independent Fed, too. Federal Reserve may get it right or wrong. But historically, when your central bank is run directly by a president or prime minister, you tend to get much higher inflation. That's just an empirical point. It's a given. But I am now going to commit sacrilege in front of you, because let's be honest, until this week, the vast majority of investors had never heard of Lisa Cook. They don't care that she hasn't been charged, not charged, but hasn't been charged with mortgage fraud, supposedly telling banks she had two primary residents when you're only allowed that one. They don't even care how she votes, which is a last with president presidential nemesis Jay Powell. They think two things. One, this is all inside baseball to them. And two, the president does outrageous things every day. What's the deal? It's become the norm. Whether you think it's outrageously good or outrageously bad, it shouldn't be shocking anymore. Trump feels like he has a mandate to be outrageous. And given that his party controls both Congress and the Supreme Court, he can get away with practically anything, seemingly, no matter how outrageous it is. To which I say at this point, when it comes to the prices of stocks, here I go. Who cares? What does the firing or non-firing of a Fed official most people have never heard of have to do with the price to earnings pool of the $4.4 trillion stock of Nvidia going into tomorrow night's quarterly report? Again, I am not trying to minimize it. I understand why so many on Wall Street are worried that President Trump's trying to control the Federal Reserve. But at the end of the day, I don't see this stuff having much impact on your portfolio, OK? Or on the most important stocks in this market. More importantly, I say own Nvidia, don't trade it, regardless of what's happened with Lisa Cook's second mortgage application. I say I want an independent Fed, but even if it gets a little less independent, I believe that tomorrow night at this time, Nvidia CEO Jensen Mang will have told a good story about how demand for chips remains incredibly strong because they're the bedrock of artificial intelligence. That's what I care about. I want our country to have a central bank that looks at the evidence and tries to do the right thing regardless of the president. But more important, I want to know the total cost of ownership of Nvidia's new Grace Blackwell chip and whether it's still very moderate and whether customers will be able to generate a great return using it, something being called into question every day these days by a lot of the Nvidia bears. Finally, I want the president to be less outrageous, if only because the Fed's about to give him what he wants anyway, lower interest rates. He doesn't have to fire anybody to make it happen. But I also want to see strong Chinese sales for Nvidia. I mean, these things, I know they're totally unrelated. Let me put it another way. There have been so many shocking things coming from the White House that they're no longer shocking. At some point, this stuff gets priced in. Did the president take a cut of Nvidia sales to China? Sure, but he did so after lifting ban on the sales, something that will make shareholders a fortune. Did he take a 10 percent stake in Intel in exchange for giving the company the money that it needs to keep growing? Yeah. And while it's unorthodox, Intel really needed the cash. That's left out. Yet somehow, every day there are people who are shocked at what this man does. The more shocked you are, the more like you are to sell stocks, even though most of this stuff has nothing to do with the market and it's been wrong to sell stocks. Or to be blunt, do you really care if I'm concerned about whether a Fed governor got a mortgage unless the Justice Department files charges? My view on it means little. And look, for pretty much my entire career, if somebody told you to sell stocks because of a headline from Washington, you would have been dead wrong. We already went through this in Trump's first term. I'm just trying to figure out how to help you make money. And that means not paying as much attention to stuff as others would like me to do. I do care about J-PAL. I like his independence. I like his sharp mind. But he has a term on it. The term will end early next year. President Trump will pick his replacement. Life will go on. Let me tell you a story about who I am and what I'm trying to do so you can understand why I'm not being cavalier and what has become my lifelong persona as Wall Street Color Man. Two and a half months ago, I went on this 10-mile hike in British Columbia with my kids. Probably a mistake. They're really motor. And I try to motor, too. I'm a little older than they are. But that's what happens. Kids are younger than you. Well, mile five, I felt a pain in my ankle. It didn't go away. I really hurt myself. And this thing's been bugging me since I had the MRI, OK? What happens when I get an MRI? OK, well, first, the person who guides me in the MRI, he doesn't guide me and say, hey, I like that gown on you. He says, OK, what am I buying here? I said, well, I like Boeing. Well, how about NVIDIA? I go, OK, Solana. I said, all right. I like the Bitcoin. I like that. I like the crypto. Solana's good. I like Solana. What is the person who straps me in the MRI want to know from me? Does he ask me, do you want Beethoven, Brahms? I don't know. Hey, no. He wants to know whether I still like Palo Alto Networks. I just bought some for the trust. It looks real good. And I like Boeing, too. And we finish the MRI, crowded elevator, a terrific woman next to me says, money man, what do I do with the NVIDIA? I told her I own it. Don't trade it. I told her I own it. Did anyone ask me about Lisa Cooke? I wouldn't tell everyone. I thought it was outrageous that Lisa Cooke may lose her job because she became she may be charged or may not be charged with having two primary residents or maybe not having two primary residents. And that, therefore, the Fed's not as independent, therefore, you should sell NVIDIA. But that's not how it works. They wanted to know how to make money. Am I craving and my insistence trying to help these people rather than argue about policy? Am I less of a thinking person because I didn't direct them to the acts about the Federal Reserve's independence? At the end of the day, at the end of the very day, I just don't want to scare anyone from what could be a good stock and a good stock market because of the feelings I have about the Cooke imbroglio. So I keep my opinions that aren't relevant to stocks to myself unless asked directly about them. You don't come to me for a civics lesson. You come to me to ask me if you should buy or sell NVIDIA. I say buy or whether or at least hold. You want to know whether I think Apple should buy perplexity. I don't talk about it anymore because I've said it too many times. But I don't mind this. You know why? It's not my lot in my life. It's part of my life's joy. So here's the bottom line. As long as I have this job, I'm going to keep trying to help people make money in stocks. If someone asked about Lisa Cooke, I would have given an answer about Fed's independence. But you know what? They didn't. They want me to help them make money. And I am, in the end, their obedient servant who wants they want to hear about stocks done inside baseball, about the Fed. And the viewers are my real bosses. And that's who I play for. And that's what I do. Curtin, Illinois, Kurt. Booyah, Jimmy. Booyah, my partner. What's up? Hey, let's say fly eagle fly. You betcha. How are you doing? I'm the best. I love my wife. Fantastic. Go ahead. My wife and how are your business partners? You know, we make a joke about that. OK. Go ahead. Yeah. I'd like to ask. What do you think about this pharmaceutical company? They got approved for a drug to help with memory loss. Back in July, it's a little company, a pharmaceutical company out of Indianapolis to me, and I called Eli Lilly. OK. Memory loss is not that important, Kurt. It's just a very hard thing. I mean, actually, if you want memory loss, you buy you buy Amgen because we're path is doing really well in the memory loss category. Here's what you need to know. That Lilly thing this morning comes out and I'm like, you know, I'm going with Jeff Marks and I'm like, you know, I'm saying, listen, this is a really big deal. But meanwhile, it gives me the seventh position in the draft. That's what I need. And I say this stuff is up to 12, I said, read the first test versus the second test. The first test is a lot about if you are just wait. The second one's got diabetes. This is the pill. OK, bear with me. It's a pill. If you strip out the people who don't die, very hard to lose weight. This pill is going to lose you, I think, between 12 and 15 pounds. And that's why Lilly, instead of being up 12, went up 40. OK. I was surprised nobody asked about Lilly today. It's kind of odd. All right. You want to hear. But guess what? People want to hear about stocks from me. They want to talk second mortgages and primary residence. I'm all over it. Now, on Mad Money tonight, TJX just broke out after the quarter. So can the off-price retail. I'm so fired up. I don't know why. I'm digging into the story of the TJX, OK, and then from cotton to coffee. What the hell? Why isn't the price of corn and everything about it lower? Well, I don't know. I think it's going insane. So I'm going off the charts to get a better read. And Switzerland was hit by nearly 40 percent tariff on products sold in the U.S. What is that about? I'm going to turn to a private player in the space. Oh, Breitling. They got a better sense of how this might impact the company's business. Look, I'm happy to talk second mortgages. I have a couple of myself. Stay with Kramer. Don't miss a second of Mad Money. Follow at Jim Kramer on X. Have a question? Tweet Kramer. Hashtag Mad Mentions. Send Jim an email to madmoneyatcnbc.com. Or give us a call at 1-800-743-CNBC. Miss something? Head to madmoney.cnbc.com.

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Breakdown