 All right, it's Wednesday the Dow Jones industrial average hitting a fresh record high We're on the floor of the New York Stock Exchange with Jim Kramer to break it all down Jim Let's start with reports of Gary Cohn being considered for Fed chief I think that that actually is a market mover because I think that Gary Cohn is regarded by everybody on Wall Street I'm really mean it. I've never heard a bad word said about Gary other than when he bashed it ahead If you didn't make your numbers But it would be interesting to have a non theoretical person at the Fed because one of the problems that the Fed has They've got the trillions of bonds and that is something that an academic may not know how to get rid of But a practitioner would so this particular moment It would be who the Fed to have someone who actually understands The integral nature of the financial market so they can sell those bonds without hurting Meanwhile Bank of America with a note talking about a delayed iPhone 8. Yeah, I mean look I think that There was someone was saying that they're panicking Cooper, you know, they don't panic up. They're the coolest people in the room Apple's a consumer product company, and they're not going to release a product if it isn't perfect Even if they miss the Christmas season, it's not their style So those who are basing their numbers on whether it can get out or not are missing the big picture Which is that this is a consumer products company that will not release a product before it's time All right, also your dog Everest and video had a good morning. Yeah, yeah ever since just you know look ever since been perky ever Scott knocked down by By left by Angela and Citron, but you know what ever is just recharged got right back on the bed took a little nap And now ever since a crouching tiger, although he is a dog And that's why he is in video. He's bouncing right back And I think that those who trifle with him have been bitten He has been we always have to put him in his crate when anyone comes to the door because he's a ferocious defender of Lisa And we'll bite anyone and that is the definition of NVIDIA. And what about bug? bug Chevron and you know 40 to 50 trading range kind of not really Show them much frankly hoping for a good inventory number Realizes that the world is not under his control unlike NVIDIA And he really is just kind of sad. He's sad that he's in oil stuff. Maybe he'll get there one day Yeah, I mean like you know someone posted a really good Picture of their dog that looks a lot like NVIDIA, but I turns out that it's brought come Love that All right, Jim, let's also talk about your mad dash or your stuff trading segment Western digital Wow, you know Western digital mean a lot of people don't understand the court system They filed to get a couple of temporary and temporary injunctions against Toshiba in order to be able to get some records from Toshiba and also actually to block the deal They want the temporary restraining order to get the records that is a that is a huge Victory for Western digital and it says basically to Toshiba All right We can't really negotiate with any bills because they'll have if they get a TRO Against what Western digital against Toshiba selling it to anybody else it's finished because there are lawyers involved in these deals And no one wants to deal deal with a situation where they could be subject to a TRO from a San Francisco district court Since that's where all the bidders are located Also Twitter has a new CFO. Yeah, I'm surprised this talks up this much because you know look the guy Worked at Goldman. He worked it into it. I'm sure he's a fine man But you buy Twitter because of the numbers and I'm not seeing that I mean maybe by comparison to what's going on at snap But I you know, I think Twitter's having an okay quarter I still believe that Jack Dorsey did a great job by the way at Square I'd like them to spend more time there, but Sarah Fryer doing the day-to-day at Square Square Someone should buy Square nine billion. It's a fabulous asset PayPal I don't want showman's doing so much. He doesn't need to he's opening a credit division himself But I do think that Twitter should be going up on something else or it may be going up on something else other than the CFO You talked about PayPal on mad-dash. Yeah, well PayPal dance showman is Remarkable people wrote them off repeatedly against the visa mastercard against Wells against Google Against JP Morgan and of course against Apple now Apple is letting PayPal into the into the ecosystem And that's a huge win PayPal could go up substantially from here even though it has already had a very big you mentioned snap earlier Barclays says it's a buy post-lockup period Look, I think that the prescription for Barclays that Barclays should have laid out that I will lay out for the people who run Snap is first you have to just you have to round up all the people who are in the 711 million shares that are coming off and get their commitment to not sell then you have to release the short form videos that you're working on and Give us the slate of advertisers to show that the return on investment is actually Coveted by some of these advertisers. They have to do that. Will they do what they don't have to do anything because they have this They own the stock then I you don't have any voting worse if you own the stock But that's what they should do and I'm giving them that game plan just because like I feel bad for them And like you said the other day I was walking the street Evan Spiegel should come on air Yeah, Evan should just come on air and say exactly what I said He shouldn't say anything else other than what I just said though. So that's the script Evan There you go. All right. Let's also talk about earnings to watch. We've got Delta Airlines on tap You know, we had a really good prize a trasm number Which is a very important number from American air And I think that that's a great arbinger, you know, Southwest had a great number That's an actual hurts named fabulous number But some guy at some firm downgraded it because the stock had gotten ahead of himself So to speak I mean really Southwest is by far the best and you're always going to get a premium multiple for that I suggest you buy Southwest air not buying American. I like American, but I like Southwest more All right, we also have the big banks earnings on Friday. Yeah, we also have Delta too by the way Delta's gonna import from the interim I think Delta's gonna be affected by good good numbers not as good as American perhaps The banks are going to be difficult I'll tell you why because the the Yellen testimony Which also has the market going because she's basically say a little bit put some raid hikes in but not no real hurry It's not gonna hurt the market. We're gonna sell the bonds I hope Gary Cohen's selling the bonds, but you know, you need to see rates Really back to where they were earlier in the spring to get these banks to have the number number Bumps that we want see one of the things that's happened is the banks report nobody bumps the numbers No one says anything other than now was a good quarter now We know that if you're a tech stock you you get the raised forecast you get things going JP Morgan went very much to raise the forecast on higher rates and when the Fed raising The short rates and you need both those to really get the stock to go to 100, which is my price target I remain committed to any city. We did trim some Wells Fargo yesterday Because we just felt that it was just out of whack I like key better than all of them key is the one that has done to be able to give you the bump earnings bump because he bought first Niagara and he was one of the no banks can't buy any of most of the large banks Can't buy any others because the concentration is so heavy, but Beth Mooney bought first Agra in the act and it's been a very very good acquisition Are Jim you just mentioned a bunch of action alerts plus names you have a call for club members in just about an hour Yeah, yeah, and the club members are going to hear they've asked repeatedly for if you didn't have any stocks Which of which would the ones the stocks you would buy meaning that we are very Committed to not violating our basis and get rich carefully I've got a 20-page explanation about why we don't like to violate our basis and how wrong it's been to do But a lot of people have just joined the club and we've got to react to them and say listen if I just joined the club Here's what I would buy so we're going to trace out that I'm going to give you my Overview of where I think the economy is and and why I like the market and then we'll answer a School of questions that we got from our forum that I think will be best for everybody who's involved in the club to hear Alright go to action alerts plus comm for more Jim Kramer. Thank you so much