Cramer Cautions on Hot CPI as AI Stocks Draw Bullish Targets

Jim Cramer warns of market pressure from hotter-than-expected April CPI (3.8% headline vs. 3.7% est., 2.8% core vs. 2.7%), dimming Fed rate-cut hopes ahead of Nvidia earnings. This follows Monday's flat stocks amid a 2% oil rally on record U.S. refinery throughput (16.3M bpd vs. 13.5M avg.) and analyst upgrades for AI names like CoreWeave and Palo Alto. Tuesday's commentary spotlights fresh PT hikes for Nvidia ($315), AMD ($515, +114% YTD), and others, mixed with Wendy’s take-private bid and KKR’s $300M fund rescue, painting a cautious yet AI-driven outlook.