July 14, 2024

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The market has many positives that can lead to a continuous rise

The market has many positives that can lead to a continuous rise

CNBC’s Jim Kramer said Wednesday there are signs of easing in stocks that could individually or collectively lead to a sustained rally, as Russia’s invasion of Ukraine and rising inflation continue to rattle markets.

“You don’t need to display the full pros, because we only have a lot of stocks in a bear market situation,”mad money‘ said the host. That’s what matters. In fact, you only need one or two pluses to spark a constant crowd. If we get more, with that level of negativity, the market can be like a coiled spring.”

Kramer pointed to several “positives” in his analysis, including Federal Reserve Chairman Jerome Powell Wednesday’s statement He expects an interest rate increase of a quarter of a percentage point, but the Fed will be watching Russia’s moves.

Other positives include the healthy consumer, as evidenced by better than expected Fourth Quarter Results From retailers including Walmart And the NordstromKramer said. He added that the epidemiological restrictions that are expected to be eased in both China and the United States also lead to “highly visible stocks that are increasing.”

Marked on Wednesday so far Another turbulent day On Wall Street. The Dow Jones Industrial Average rose 1.79%, while the S&P 500 gained 1.86%. The Nasdaq Composite Index is up 1.62%. The broad rally reversed losses from Tuesday’s trading session, though Oil prices continue to rise.

Kramer said the market’s resilience is indicative of a potential rally.

“One thing is for sure: If the market rebounds when nothing looks good… that means there is something good lurking on the horizon, it means we haven’t caught it or dealt with it yet,” he said.

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