CNBC's Jim Cramer on Wednesday urged investors to pounce on stocks that pull back due to Wall Street's concern about the Covid delta variant and its potential to inhibit economic growth.
The "Mad Money" host's comments came after all three major U.S. equity indexes closed in the red for the second-straight session. Only one of the S&P 500's 11 sectors, consumer discretionary, finished in positive territory Wednesday, advancing 0.15%. Energy was the biggest laggard, declining 2.4%.
"This is day two of a larger sell-off. All I ask is that as the market gets more hideous, you get more interest in buying something," Cramer said, suggesting Disney as one potential option for investors who believe the U.S. will soon turn the corner on the delta variant.
"Like every other sell-off that's tried to decapitate the bull and bring you its head on a silver platter, this pullback won't let you make a ton of money immediately," he added. "But I think you'll get some great entry points that could set you up for tremendous long-term gains when people realize that delta is not the end of the world."
Cramer said he's growing frustrated with Wall Street's apparent "all-or-nothing analysis" when trying to process aggregate economic reports, such as housing starts, and the U.S. economy's overall recovery in the face of rising coronavirus cases.
For example, he pointed out shares of Lowe's rallied more than 9% Wednesday after the company's better-than-expected quarterly results and raised sales forecast. That move came one day after the home improvement retailer saw its stock decline in tandem with chief rival Home Depot, which had warned in its own quarterly report that fewer customers visited its stores in the second quarter.
Those companies and the retail cohort overall were also likely hurt by the steeper-than-projected drop in July retail sales, Cramer said.
"Today, though, Lowe's and TJX both told terrific stories that really make you question the usefulness of that aggregate retail sales number that comes out of the government. It might help an economist cook up a theoretical forecast ... but in real life it makes you no money," Cramer said.
"The good news here? Every single time the market takes its cue from an ugly aggregate number — with the exception of the hugely important non-farm payroll [on the first Friday of every month] — you should have an outlier stock that could be worth buying into weakness," he added. "It's called your shopping list."
Questions for Cramer?
Call Cramer: 1-800-743-CNBC
Want to take a deep dive into Cramer's world? Hit him up!
Mad Money Twitter - Jim Cramer Twitter - Facebook - Instagram
Questions, comments, suggestions for the "Mad Money" website? madcap@cnbc.com
"street" - Google News
August 19, 2021 at 05:38AM
https://ift.tt/3AYbFp3
Jim Cramer sees opportunities to buy the dip as Wall Street's delta worries persist - CNBC
"street" - Google News
https://ift.tt/2Ql4mmJ
Shoes Man Tutorial
Pos News Update
Meme Update
Korean Entertainment News
Japan News Update
No comments:
Post a Comment