Market Overview

Jim Cramer's Early Morning Commentary: Markets In 'Uncharted Waters'

Share:
Jim Cramer's Early Morning Commentary: Markets In 'Uncharted Waters'

Oil's plunge, coupled with a nosedive in U.S. stock futures and bond yields trading near the 0.3% level, represents "unchartered waters" and signals an "imminent recession," according to CNBC's Jim Cramer.

Cramer Says Move Down 'Unprecedented'

Cramer took to Twitter at 4:15 a.m. Monday morning and said the collapse in oil prices and the 10-year Treasury yield is "unprecedented" and exceeds the "chaos" seen from 2007 to 2009.

The trading algorithms were active all night long and operated as if "trillions of dollars were trading," he said. 

Cramer Expects Oil Stocks To Lose 25%

Cramer followed up 15 minutes later and said it is "truly astounding" how oil can plunge so far and so fast.

The average U.S.-traded oil stock could open lower by 25%, while the average S&P 500 stock could fall 10%, the CNBC host said, adding that gold, utilities and drugs remain the lone groups in a bull market.

Cramer: 'Wait And See'

At 4:36 a.m., Cramer said he expects to see ex-oil stocks down 5% to 7% across the world.

He isn't sure that investors should buy on a 7% decline. The time to buy stocks is not now, and investors should "wait and see," he said.

Related Links:

US Stocks Set To Open Lower As Futures Tank On Coronavirus Fears, Oil Crash

Coronavirus Fears Spark The Heaviest Trading Month In Over A Year On OTC Markets

Photo by Tulane Public Relations via Wikimedia. 

 

Related Articles (SPY + DJIA)

View Comments and Join the Discussion!

Posted-In: Oil oil prices TreasuryNews Futures Commodities Markets Media Best of Benzinga

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com