CNBC’s Jim Cramer sparked debate on Monday when he posted on X that the phrase “under pressure” has become the morning routine in U.S. markets. “No wonder Europe [is] doing better than we are,” he wrote.
The following day, he doubled down, posting: “I do not know when the market will NOT be under pressure in the morning. I think as long as Europe’s markets are viewed as safer than ours it could be a constant.”
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Some Say Europe Isn’t Actually Ahead
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Cramer’s post drew plenty of pushback. One person wrote, “Europe is absolutely not doing better than we are,” while another said, “Short EU, Long USA.”
One analyst offered a more nuanced take: “EU is actually not doing better than the US economically or in tech/productivity, but they do now have lower government debt and higher quality of life.”
Others took a more skeptical or sarcastic tone. “Europe looks to be like a giant California. Which is falling apart,” one user replied. Another joked, “Jim, we're about to crash. Need you to be bullish.”
But the question of Europe outperforming isn't just about opinions online.
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Europe Stocks Are Surging In 2025
According to a recent Bloomberg report, eight of the world's 10 best-performing stock markets are in Europe. Germany’s DAX Index is up more than 30% in dollar terms. Markets in countries like Poland, Slovenia, Hungary and Greece are also seeing double-digit growth.
The pan-European Stoxx 600 Index is beating the S&P 500 by a record 18 percentage points this year. Bloomberg reports that the strong performance is being driven by Germany's massive infrastructure and defense spending plans, a stronger euro, and solid corporate earnings.
“Europe is back on the map,” head of investment strategy for RBC Wealth Management Frederique Carrier told Bloomberg. “We are getting more questions about Europe now over the last two months than we did over the last 10 years.” UBS Group AG analysts estimate that $1.4 trillion could shift from U.S. assets into European equities over the next five years.
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Cramer Blames ‘Trump Discount’ For Market Weakness
Cramer expanded in a CNBC column on June 1 on why he thinks the U.S. market keeps getting dragged down. “We keep getting thrown off, and the lack of predictability is driving investors elsewhere,” he said.
He argued that while Europe may not be surging economically, its relative stability makes it attractive. “Do we really think the economies in Europe are doing that well? Is Italy on fire? Spain soaring? No. But what they do have is consistency, even if it is the consistency of mediocrity. We, on the other hand, have no stability whatsoever because of the incredible, mind-boggling power of the White House.”
Cramer pointed to what he calls a “Trump discount” weighing on sectors like tech, retail, pharmaceuticals, and banking. “We sit here, agog, as Europe goes higher when we have companies in our stock indexes that are doing much, much better than any of theirs. But it doesn't matter because ours can be taken away with a stroke of President Donald Trump's pen — and don't we know it.”
Read Next: Can you guess how many retire with a $5,000,000 nest egg? The percentage may shock you.
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