Cramer laments a lack of earnings momentum in stocks: “It starts to bother me.”
CNBC’s Jim Cramer released his forecast for the market on Wednesday as many stocks failed to trade balance after positive quarterly reports.
“Most stocks just don’t get a lot of pin action for what they do now, partly because the market had a miraculous run,” said the Mad Money host. “It makes everything seem like a yawn and it starts to bother me.”
Cramer pointed to the lack of momentum in trading stocks of chipmakers advanced micro devices, banks and consumer goods after they released their respective numbers.
AMD shares fell 1.40% to $ 84.02 on Wednesday, the day after the company reported a quarter that Cramer described as “stunning”. Since its first quarter earnings release two weeks ago, JPMorgan stocks have fallen 1.2%, while names like Citigroup and Bank of America have gained little or nothing since their reports.
Meanwhile, Apple and Facebook shares fell about 4% and 6%, respectively, after trading on Wednesday after reporting strong results for the first three months of the year.
“If your company isn’t a big beneficiary of the big reopening, nobody cares,” said Cramer. “Even then, you have to deliver a massive upside surprise – not just a regular upside surprise – to get this market’s attention.”
Disclosure: Cramer’s charitable foundation owns interests in Apple and Advanced Micro Devices.
Questions for Cramer?
Call Cramer at 1-800-743-CNBC
Would you like to dive deep into Cramer’s world? Open it up!
Mad Money Twitter – Jim Cramer Twitter – Facebook – Instagram
Questions, comments, suggestions for the Mad Money website? [email protected]