Jim Cramer talks 'brown shoots' coming from J.B. Hunt and Prologis

Are we finally headed for a slowdown just when everybody’s giving up on the idea? As I said at the top, I’m looking for brown shoots wherever I can find them. And they’re starting to pop up in important places. Look, if there’s one thing people are confident about, including yours truly, it’s the economy still humming. We talked about the banks yesterday, Wells Fargo, JP Morgan, Citigroup and the like. And we didn’t hear anything from them to suggest that higher interest rates are having much of an impact yet aside from making the banks more profitable. It’s a solid moment, not a fabulous one, as Brian Jordan, the straight shooting CEO of First Horizon, told us they say and he’s from the hottest area of the country in the Southeast. We’ve got a healthy amount of commerce and few defaults. This is certainly not what Fed chief Jay Powell was looking to see because in this environment, companies can raise prices too easily. That feeds the flame of inflation. I think he never committed to no more rate hikes. If he had known that business will stay this strong. However, we got two companies this week that gave us a very different narrative, real wake up call narrative that’s ripe with what I call brown shoots. We’re getting these negative stories from excellent companies that are far more sensitive to immediate trends than the banks are or pretty much any entity out there. The best examples, profoundly weak numbers from JB Hunt, the 4th largest trucker and perhaps the most the boldest one when it came to expanding last few years and highly disappointing results from Prologis, the largest owner of logistics real estate. Before I get into the numbers, let me just say two things here. Both of these companies are superb operators, JB Hunt run by outgoing CEO John Roberts and the extraordinary incoming CEO. Shelly Simpson has put together a true nationwide colossus. They took advantage of COVID era to get much bigger. I was smart. Prologis, the landlord to e-commerce, regular commerce, data centers, even solar fields is about a steady predictor. The economy as you can find because they own the warehouses. It was the first doctor rally out of the Great Recession. Just total control of its business. Or at least I thought it did Until yesterday. Don’t miss a second of Mad Money follow at Jim Cramer on X. Have a question? Tweet Cramer hashtag mad mentions Send Jim an e-mail to [email protected] or give us a call at one 807 four Three CNBC. Miss something? Head to madmoney.cnbc.com.

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