SpaceX gives Nvidia a much-needed boost. Plus, Cramer on an 'undervalued' stock
📰 source: cnbc_topnews · 💼 business
stocks rose wednesday, with the s&p 500 and dow hitting intraday records, tracking for their best five-day run since april 2025. oil fell on reports the u.s., iran, and oman are working on a deal to manage ship traffic in the strait of hormuz. jim cramer said lower oil has become a catalyst but warned against investing on that basis.
nvidia climbed nearly 4% after spacex ceo elon musk said the company will build its ai infrastructure exclusively on nvidia, calling the vera rubin architecture the best ai computer. cramer said the endorsement cements nvidia's lead in ai infrastructure even as cloud providers build custom chips. he called spacex visionary and said he'd give his kids the stock.
honeywell aerospace reports earnings wednesday after the close. cramer calls it the most undervalued stock in the portfolio, noting shares are down about 1% since the june 29 spin-off while the s&p gained roughly 4%. rapid-fire names included disney, uber, cvs, elanco, and arista networks.
why it matters: musk's nvidia endorsement strengthens ai leadership case, while oil decline supports market rally but cramer warns on chasing macro trades.
source: cnbc_topnews
sentiment: +0.40 · impact: 0.50