Cramer Warns October Looks Rough as 30-Year Yield Hits a 24-Year High
As seen on the 24/7 Wall St. homepage on September 29, 2026.
Mad Money w/ Jim Cramer 9/29/26
- Cramer says the 30-year Treasury yield is the highest in 24 years, with over 40% of S&P 500 names in a bear market
- Public backlash against AI and data centers is the new narrative risk that could make October ugly
- Goldman Sachs called the most beaten-down of a caller's bank ideas alongside Capital One and BNY Mellon
- Interviews with Meta's Dina Powell McCormick on its AI agent Muse and BWX Technologies on its new long-term strategy
Cramer's message: public perception is now the AI trade's problem, and he thinks that plus long-end yields sets up a rough October. He still wants Goldman Sachs on weakness, calling it the most beaten-down of the bank names raised by a caller.
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Cramer sees a difficult October taking shape as the 30-year Treasury yield reaches its highest level in 24 years.
He flags a second risk that is harder to hedge: rising public backlash against AI and data centers, which he treats as a genuine narrative threat to one of the market's most crowded trades.
On the banking side, Cramer singled out Goldman Sachs as the most beaten-down of the bank names a caller raised, which also included Capital One and BNY Mellon. His view is to buy Goldman on weakness rather than chase it.
The episode also features an interview with Meta's Dina Powell McCormick on the company's AI agent Muse, and a conversation with BWX Technologies about its new long-term strategy. Both give investors a window into how individual companies are positioning around the same AI themes Cramer sees as under pressure at the macro level.
Mentioned: AMZN, META, AXP, GS, BKNG, UBER, SHOP, COF, DASH, ABNB, BK, HEI, EXPE, BWXT, QXO