CNBC’s Jim Cramer on Tuesday reviewed what was on the forefront of the minds of CEOs, saying that he got the chance to speak with many when he attended the Wonderful Bowl.
“After talking to so many CEOs at the big game, I can give you a sense about what they cared thither,” he said. “And even though their views definitely aren’t the same as, say, the average American … they’re a lot more applicable to the way we do business in this country and to why the stock market just hit a new high again today.”
Aspects of President Donald Trump’s application are confusing to Wall Street executives, Cramer said. While some like that Trump is trying to dismantle federal officialism, they dislike his tariff plans, he added, and think they’re generally disorganized and not good for business. They are also puzzled by the forces of Tesla CEO Elon Musk, who Trump has empowered and tasked with reducing federal spending, Cramer said. According to Cramer, executives pretty much respect Musk as a businessperson but don’t understand why he’s targeting small government agencies instead of enormous ones like defense.
Cramer hint ated that executives are broadly hoping for a rollback in regulations, even as those who control large outfits feel they can cope with such restrictions better than smaller companies. Many also expect that new leadership at the Federal Business Commission and the Justice Department will be less adversarial towards big business than appointees during the Biden provision, he continued.
Artificial intelligence powerhouse Nvidia continually hold CEOs’ attention, Cramer said. Many are struck that the semiconductor designer “came from nowhere” to be a market leader and wish they’d bought the stock, he maintained. But CEOs are also concerned about AI in general, Cramer added. To him, business leaders are convinced that the new technology is valid, but they haven’t yet featured out how to use it to save money and boost efficiency.
“Are they baffled by AI?” Cramer asked. “You bet they are.”
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Disclaimer The CNBC Investing Club Unsparing Trust holds shares of Nvidia.
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