Jim Kramer on Wednesday urged investors to buy stocks, worried about Wall Street’s Covid delta option and its potential to hinder economic growth.
The Mad Money chief’s comments came after three major U.S. capital indexes closed in red for the second consecutive session. Only one of the 11 sectors of the S&P 500 ended up in a positive zone on Wednesday, with consumer preference rising 0.15 percent. Energy was the biggest laggard, down 2.4%.
“It’s the second big sales day. I ask that when the market is more awful, you’re interested in buying something,” Kramer said, referring to Disney as a potential option for investors who believe the U.S. is coming soon. turn the corner to the delta option.
“Like any other sale that tries to remove a bull’s head and bring its head into a silver bowl, getting that money back won’t allow you to make a ton of money right away,” he added. “I think when you realize that the delta is not the end of the world, you get great entry points where you can achieve great things in the long run.”
Kramer said he was disappointed with the “everything or nothing” analysis in an attempt to process overall economic reports, such as the overall recovery of the U.S. economy in the wake of Wall Street housing construction and an increase in coronavirus cases.
For example, it showed Lowe’s shares rose more than 9% on Wednesday after the company outperformed expectations and raised its sales forecast on Wednesday. The move comes a day after a home improvement retailer saw its stock decline along with its main rival Home Depot, which warned in its quarterly report that the number of visitors to its stores was low in the second quarter.
These companies and the retail group may also have been hurt by the fact that July sales were much lower than expected, Kramer said.
“But today, both Lowe and TJX have told horrible stories that make you doubt the government’s usefulness of the total number of retailers. It can help the economist make theoretical predictions … but in real life it won’t make you money,” Kramer said.
“Is there any good news here? Every time the market gets its own unsatisfactory number — with the exception of a very significant wage that is not available to farms. [on the first Friday of every month] “You have to have securities that are worth buying with weakness,” he said. – This is your shopping list.