Cramer Flags Fed Rate Decision, Intel-SK Hynix Talks and Salesforce AI Push

The CME Group's FedWatch tool showed market odds of a rate increase above 90% on Wednesday afternoon. CNBC's Jim Cramer said a hike at this point "would make people feel better," citing inflation that is too high. But he cautioned against predicting Fed moves too far ahead, especially if the U.S. war with Iran ends and oil prices fall. WTI crude was down more than 2% Wednesday morning, though diesel prices and energy costs remained a concern.

Intel shares rose after Reuters reported the chipmaker held preliminary talks with South Korean memory giant SK Hynix about a U.S. manufacturing deal. One option under consideration is SK Hynix leasing part of Intel's planned Ohio fab; another is a joint venture with major cloud companies. SK Hynix said no decision has been made about any partnership. CNBC reported Intel up almost 4% in one update and more than 5% in another. Cramer called SK Hynix a potentially best client imaginable, and Melius said Intel could hit $200 per share in two years.

At Dreamforce, Salesforce CEO Marc Benioff argued companies will increasingly adopt agentic AI systems that augment human employees, making them more productive and unlocking value. Salesforce unveiled AIForce, a live interface across its ecosystem, and Koa, its first reasoning model for Agenforce developed with Nvidia. Cramer said Salesforce stock is "way too cheap" at about 15 times forward earnings and praised its debt-funded buyback. CNBC also noted Salesforce shares fell 2% during day two, while Mizuho raised its price target to $280 from $265.

The AI safety debate has split into two camps. Nvidia CEO Jensen Huang favors guardrails but argues companies should ensure products are safe before deployment; he told Cramer that new laws and antitrust waivers for safety are "completely unnecessary." Anthropic CEO Dario Amodei leads a camp pushing for a more coordinated industry-wide slowdown to get agents under control.

J.B. Hunt Transport Services warned of a 5% to 10% sequential decline in third-quarter earnings, below consensus for roughly a 10% increase. The trucking company cited higher-than-expected costs, including hiring drivers and rising diesel prices. CFO Brad Delco told a Morgan Stanley conference that fuel prices have seen "some of the most radical and abnormal swings" ever. CNBC reported J.B. Hunt fell over 11% in one update and roughly 13% in another; FedEx and FedEx Freight also declined.

UBS upgraded Union Pacific to buy from hold, projecting another strong year of volume growth in 2027 with stronger pricing tailwinds. The railroad's merger with Norfolk Southern is expected to close in mid-2027, though UBS said the regulatory review is challenging with an uncertain outcome. Mortgage demand dropped 4% last week before 30-year fixed-rate loans topped 7%. Ahead of Lennar's earnings, Truist cut its price target on the homebuilder to $75 from $80, citing cost increases.

Citi opened a 90-day positive catalyst watch on Meta Platforms ahead of its Connect conference next week, pointing to an updated Muse Spark model and accompanying personal AI agent. Piper Sandler raised its price target on Bristol Myers Squibb to $82 from $75 and kept a buy rating, citing three upcoming trial readouts including Cobenfy for Alzheimer's-related psychosis. Cramer said his charitable trust exited Bristol Myers in the spring and replaced it with Johnson & Johnson.

Starbucks is considering selling a majority stake in its Japan business at a roughly $3 billion valuation, Reuters reported, following a similar move in China. CEO Brian Niccol told Cramer in July that over time the company would become a licensor globally and run company operations in North America. No decision has been confirmed on Japan.