Jim Cramer, known for his "Mad Money" program on CNBC, shared with viewers his thoughts on the market as a whole on "Squawk on the Street" Wednesday.
His main points revolve around how the market is in a back-and-forth with the CDC, and how the CDC practically controls many industries’ markets.
A few “tell stocks” are indicators for the market right now, including Roku Inc ROKU, Cramer said.
“Roku is a great measure of sentiment," he said. "Yesterday it was up huge, which means we’re going back with the stay-at-homes. Just watch Roku, because it really is the market. There are these tell stocks, and it’s just kind of absurd.”
Cramer gave the cruise ship industry as an example of how the CDC can put out notices and alerts that completely fluctuate the markets.
For instance, he said cruise ship companies have been talking about sailing for three days now, and with the CDC’s confirmation that “they’ll sail someday soon,” the stocks continue to rise.
“I wish I could tell people who’ve never traded or invested before how stupid this market is. There are just these themes, and the themes just don’t stop.”
Carnival Corp. CCL is leading the S&P thanks to the CDC’s optimistic view on the pandemic, the vaccine and the notion that the masses will one day again want to get onto a cruise ship with hundreds of strangers post-pandemic, the CNBC host said.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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