Jim Cramer of CNBC cautioned investors on Wednesday that interest rates haven’t peaked and won’t start dropping until inflation cools in three areas.
He warned that rising interest rates wouldn’t be mitigated until food, housing, and wage inflation subsided, none of which we’ve seen so far. What we have comes exclusively from retailers for now,” Cramer said. You can’t stop there.
Hovnanian anticipates a robust spring selling season for housing, and he also thinks food inflation is far from over. Although he acknowledges that large-scale layoffs and business closures are unlikely to bring about meaningful wage reductions, they may provide some temporary relief.
“We’re still 0-for-3,” Cramer said. If additional evidence emerges showing that February was dismal, I’ll have to revise my assessment.
This year (2023) has started off with a bang in terms of inflation, with January’s price increases matching or exceeding the projections of many economists. According to the most recent figures from the Bureau of Labor and Statistics, inflation increased by 0.5% that month and 6.4% over the prior 12 months.
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Is Jim Cramer Still With CNBC?
Cramer’s brief absence from CNBC was for a completely innocent reason, despite the rumors to the contrary. Cramer shared the news that he had undergone major back surgery due to a cyst that had left him with limited leg control during the same call.
The character said he had to crawl up the stairs and collapse on his face at work before a five-hour operation to remove the cyst.
Cramer took some time off to heal, and then he came back to host Mad Money on CNBC. Cramer went to social media last week to express gratitude to his audience. To quote what he penned: “I appreciate all the praise the shows have gotten this week.
The wonderful people I work with are the only reason I made it through this ridiculously difficult week. I am eternally grateful to each and every one of you.”
Twitter Chatter Increases In Jim Cramer’s Absence From CNBC
Cramer has not appeared on Mad Money since the week of January 25. The celebrity’s absence coincided with a surge in the price of GameStop shares by retail traders, who drove the price to a high of $483 in an effort to pressure hedge funds that had been shorting
the stock to close their positions at massive losses. Within a week of reporting that Melvin Capital had closed its short position in GameStop, CNBC was the target of online accusations of collusion by these hedge funds.
On February 3, Cramer called his Action Alerts PLUS members to explain that he had been kept off air the week before because he wanted to help the regular guy and the network didn’t want him to.
“The second thread implied that I am a trigger-puller for major hedge funds and that I work for them. Strange puppet performance of some sort. Another thread claimed that I, as usual, was manipulating the situation.”
As Meta Stock Falls, Jim Cramer Appears Distraught And Says, “I Did A Bad Job”
has just recorded its worst week of 2023. And Cramer says the market is far from bottoming out.
This week, interest rates moved in the opposite direction, rising sharply rather than remaining stable. Stocks with higher price tags increased rather than decreased. Meanwhile, stocks that are typically resilient during economic downturns did not experience the necessary recovery.
The banks did well, so at least that was a success. Cramer argued that banks will be valuable in a higher interest rate environment if they maintain their stability and continue to lead the market.
Cramer claimed that, with regard to the retail market, Wall Street made too broad of a generalization rather than picking out the winners. Walmart stock
Cramer said investors should watch next week’s retail earnings to see if Wall Street classifies winners and losers.
After all that, Cramer said he won’t call an end to the selling until the market has been oversold. The S&P oscillator, which has been accurate in the past, has failed to produce such a result for him.
At Saturday’s New York meeting of the CNBC Investing Club, Cramer will go into greater detail about his checklist.
You have to keep your head down,” Cramer warned until these conditions were met. To put it bluntly now is not the time to try to buy something with a heroic display of spending.
Following the release of Facebook parent company Meta’s quarterly earnings report and subsequent precipitous drop in stock price, CNBC’s “Mad Money” host Jim Cramer appeared emotional. Cramer had previously reassured his audience that buying Meta was a smart move.
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