- CNBC’s Jim Cramer on Monday offered investors a list of companies whose solid quarters he believes have helped the market rally recently.
- “Earnings are sharply better than expected, and that — not just the idea that the Fed might pause the rate hikes after its upcoming meeting — was what’s driving the market’s newfound strength,” he said.
CNBC’s Jim Cramer on Monday offered investors a list of companies whose solid quarters he believes have helped the market rally recently.
Here is his list:
- Bank of America
- Johnson & Johnson
- Goldman Sachs
- Lockheed Martin
- Netflix
- Procter & Gamble
- IBM
- Tesla
- AT&T
- Tractor Supply
- CSX
- SLB
- American Express
“Earnings are sharply better than expected, and that — not just the idea that the Fed might pause the rate hikes after its upcoming meeting — was what’s driving the market’s newfound strength,” Cramer said.
The Wall Street Journal reported on Friday that the Federal Reserve could move to slow the pace of interest rate hikes in December.
Cramer’s comments come during a busy earnings week featuring some of the world’s biggest companies. Some of the names set to report this week are Big Tech firms like Google parent Alphabet, Microsoft and Apple, as well as retail giants like Coca-Cola.
Out of the firms that reported standout results recently, Netflix and IBM had the best quarters, Cramer said, advising investors to buy the streaming giant’s stock “aggressively” and keep an eye on IBM’s stock price.
He added that the companies which reported solid earnings extend beyond his list, strengthening his case that they’ve helped buoy the stock market recently. “I could’ve picked 10 more winners,” he said.
Disclaimer: Cramer’s Charitable Trust owns shares of Johnson & Johnson and Procter & Gamble.
Source: Business - cnbc.com
