Stock Market Today With Jim Cramer: Reaction to Dimon's Letter

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Stocks declined Wednesday as investors awaited minutes of the latest meeting of the Federal Reserve.

TheStreet’s Katherine Ross and Jim Cramer discussed breaking news in the stock market. Cramer spoke about trading behavior among younger investors, Jamie Dimon’s letter and markets on Tuesday.

Trading Games

Cramer said trading is a selfish game unless you do it full-time. “Trading for instance is a catalyst game, like the CDC folding to Norwegian Cruise Line’s  (NCLH) – Get Report pressure to resume operations. That is a catalyst call.”

Jamie Dimon’s Letter

JPMorgan Chase  (JPM) – Get Report CEO Jamie Dimon said Wednesday that the current economic recovery could extend into a boom that lasts for another two years, but cautioned that rising debt levels and simmering inflation posed key risks that investors have yet to fully appreciate.

Cramer said the letter highlighted the theme of inequality.

Markets on Monday

Cramer said a lot of people are buzzing about Jamie Dimon and the boom that’s coming. “I’m more focused on what can make money right now because that was a longer-term forecast. Once again there is a return to the highest growth stocks as if we’re going to be in situations where people are not going outside. Roku  (ROKU) – Get Report moving means the stay-at-home story is very strong,” said Cramer. 

He, however, disagreed with this theory and urged investors to look for industrials and freedom stocks.

None of the stocks mentioned in this article are key holdings in Jim Cramer’s Action Alerts PLUS member clubWant to be alerted before Jim Cramer adds or removes stocks from his portfolio? Learn more now.