- CNBC’s Jim Cramer on Tuesday offered a list of four investable financial stocks that he believes will benefit from the Federal Reserve raising interest rates to control soaring inflation.
- “Now, what this market wants is entirely different. It wants GARP: growth at a reasonable price,” the “Mad Money” host said.
CNBC’s Jim Cramer on Tuesday offered a list of four investable financial stocks that he believes will benefit from the Federal Reserve raising interest rates to control soaring inflation.
“Growth at any price went out of style in the Wall Street fashion show nearly six months ago, as we saw yet again today. Now, what this market wants is entirely different. It wants GARP: growth at a reasonable price,” the “Mad Money” host said.
“I think it’s a good time to pay some attention to the underappreciated financials with GARP appeal. … We don’t invest in hope, we invest in possibilities, and the odds of winning with growth at a reasonable price have rarely looked this good,” he later added.
The S&P 500 on Tuesday tumbled 0.34% while the Nasdaq Composite dropped 0.30%. The Dow Jones Industrial Average declined 0.26%.
Cramer picked four financial stocks investors should consider buying from the same list he used to choose his six favorite travel and leisure stocks on Monday. He came up with the list by running screens on companies listed in the S&P 500, leaving him with firms that have a reasonable valuation and earnings growth.
Here is the list of four financial stocks that passed the test:
- Signature Bank
- State Street
- Bank of New York Mellon
- Charles Schwab
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Source: Business - cnbc.com
