Today's market rally defies regular wisdom, says Jim Cramer

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A LITTLE BIT OF MONEY. SO, TO CALL ME AT ONE 800 -- THIS MARKET ALMOST FEELS BLASPHEMOUS TO ME, BECAUSE WE ARE BEING LED BY AN OUTRAGEOUSLY BULLISH COMBINATION OF STOCKS, THAT SHOULD NOT BE GOING HIGHER AT THE SAME TIME. NOBODY WANTS TO SAY IT, BUT I DON'T KNOW IF I CAN RECALL A MOMENT WHERE WE HAD SUCH DISPARATE STOCKS CLIMBING TOGETHER TO NEW HIGHS. YOU ASKED ME A FEW WEEKS AGO, I WOULD HAVE TOLD YOU THIS COMBINATION TODAY IS NOT CONCEIVABLE. THAT IS WHAT HAS HAPPENED. DOW GETTING ANOTHER 350 POINTS TODAY, S&P, RECORD CLOSE. NASDAQ, YOU GUESSED IT, RECORD CLOSE. THIS ACTUALLY DEFIES THE WHOLE NATURE OF THE CONVENTIONAL WISDOM OF WHAT CAN HAPPEN WHEN WE ARE AT THIS PART IN THE CYCLE. FOR THE OLD DAYS, CRASHING IN 2008. WE WOULD BE CELEBRATING DAILY TODAY, SO NOW IN A CERTAIN RESPECT, THEY JUST TRY TO IGNORE WHAT IS HAPPENING, SO THEY CAN O BACK, GO BACK TO TALKING ABOUT HOW THE CONSUMER IS TAPPED OUT, OR SOMETHING WE LEARNED ABOUT FROM SOME INCREDIBLY WEAK RETAIL SALES NUMBERS JUST THIS MORNING, OR HOW INFLATION IS STILL RAGING, AND IT IS FRIGHTENING THE BUDGET DEFICIT, A CONSUMER PRICE INDEX IS TOO HIGH, THERE WERE EVEN PEOPLE COMPLAINING ABOUT HOW THE ECONOMY IS JUST TOO HOT, STILL. I KNOW! I SAW IT TWICE THIS MORNING. I WANTED TO REACH IN AND GRAB IT, BUT I COULDN'T BECAUSE THEY WERE RIGHT THERE. THEY WOULD HAVE HURT ME. OKAY, LOOK. IN NEGATIVE SPIN ON ALL SORTS OF POSITIVE NEWS, NOT ONLY NO CELEBRATION, NO POSITIVE NATURE, BUT REALLY, AN OUTRIGHT PESSIMIST, PESSIMIST DAY. I DON'T KNOW WHAT THEY CAN DO WITH IT. AND THEN, THERE WERE THE STOCKS THEMSELVES. YOU LISTEN TO THE STOCKS, THEY ARE SAYING, SHUT UP AND DRIVE. THEY ARE SAYING, YOU MUST NOT LISTEN TO ALL OF THIS, THESE BILLIONAIRES THAT ARE DOING THEIR BEST TO SCARE YOU TELLING YOU, THOSE PEOPLE ARE AWFUL. THE BEARS HAVE HAD IT WRONG.
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Channel: CNBC Television
Views: 3,815
Rating: undefined out of 5
Keywords: CNBC, Mad Money, invest, investing, stock market, jim cramer, cramer, kramer, wall street, lightning round, investment strategy, retirement
Id: u4jRuJHqqLA
Channel Id: undefined
Length: 2min 29sec (149 seconds)
Published: Wed May 15 2024
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