Jim Cramer: Large companies control the market, despite record layoffs
"You don't have to like it — I know I don't — but it's the big dogs with pristine balance sheets and gigantic scale that can survive this lockdown," the "Mad Money" host said.
CNBC’s Jim Cramer on Tuesday explained the paradox of a stock market that is heating up while the state of the economy appears to be crumbling amid a health crisis and economic shutdown in the United States.
“At the end of the day, the stock market’s made up of big, huge companies, not the small- to medium-sized businesses that are the backbone of our economy,” the “Mad Money” host said. “You don’t have to like it — I know I don’t — but it’s the big dogs with pristine balance sheets and gigantic scale that can survive this lockdown.”
Cramer made the comments in response to a viral screenshot of a scene from his Thursday show that circulated online.
“There’s a seething anger sweeping this country and it’s directed point-blank at Wall Street,” Cramer said after the market staged another rally in Tuesday’s session. “This relentless rally seems unfair, it seems senseless and it seems heartless” amid a deadly coronavirus emergency.
The image, which juxtaposed a strong weekly gain for the Dow Jones index against multiple weeks of record job losses, was shared widely on social media platforms, including in a tweet by Rep. Alexandria Ocasio Cortez, D-New York, who sought to highlight a contradiction between Wall Street and Main Street.
“When late stage capitalism takes a selfie,” the lawmaker from New York wrote in a tweet that was reshared more than 43,000 times on the platform.
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Видео Jim Cramer: Large companies control the market, despite record layoffs канала CNBC Television
CNBC’s Jim Cramer on Tuesday explained the paradox of a stock market that is heating up while the state of the economy appears to be crumbling amid a health crisis and economic shutdown in the United States.
“At the end of the day, the stock market’s made up of big, huge companies, not the small- to medium-sized businesses that are the backbone of our economy,” the “Mad Money” host said. “You don’t have to like it — I know I don’t — but it’s the big dogs with pristine balance sheets and gigantic scale that can survive this lockdown.”
Cramer made the comments in response to a viral screenshot of a scene from his Thursday show that circulated online.
“There’s a seething anger sweeping this country and it’s directed point-blank at Wall Street,” Cramer said after the market staged another rally in Tuesday’s session. “This relentless rally seems unfair, it seems senseless and it seems heartless” amid a deadly coronavirus emergency.
The image, which juxtaposed a strong weekly gain for the Dow Jones index against multiple weeks of record job losses, was shared widely on social media platforms, including in a tweet by Rep. Alexandria Ocasio Cortez, D-New York, who sought to highlight a contradiction between Wall Street and Main Street.
“When late stage capitalism takes a selfie,” the lawmaker from New York wrote in a tweet that was reshared more than 43,000 times on the platform.
For access to live and exclusive video from CNBC subscribe to CNBC PRO:
https://cnb.cx/2JdMwO7
» Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision
» Subscribe to CNBC: https://cnb.cx/SubscribeCNBC
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Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide.
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Get the latest news: http://www.cnbc.com/
Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC
Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC
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Видео Jim Cramer: Large companies control the market, despite record layoffs канала CNBC Television
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