Renowned market analyst Jim Cramer has been making waves with his recent analysis of the market rally following the latest CPI data, which showed a decrease in inflation for April. Cramer believes that bears are facing an “uphill” battle and unless they can find clear signs of inflation heating up, he expects the rally to continue.
In a recent program, Cramer expressed his astonishment at the current market conditions, calling it “almost blasphemous” due to the “outrageously bullish” performance of certain stocks that he believes don’t deserve to rally. The NASDAQ, S&P 500, and Dow hitting record highs have defied conventional wisdom about the business cycle, according to Cramer.
Cramer didn’t hold back in his criticism of market skeptics and bears, stating that they have consistently been wrong in their predictions. He pointed out that the recent market rallies have seen a diverse group of stocks surging simultaneously, including banks, tech, industrials, and utilities.
One stock that Cramer is eagerly awaiting the earnings report for is NVIDIA Corp (NASDAQ:NVDA), which he dubbed the “biggest earnings report of the entire year.”
In addition to his analysis of the market rally, Cramer also shared his latest stock picks for May 2024. These picks include Mind Medicine (MindMed) Inc (NASDAQ:MNMD), SAP SE (NYSE:SAP), Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL), Modine Manufacturing Co (NYSE:MOD), and Moderna Inc (NASDAQ:MRNA).
Cramer’s recommendations highlight a mix of lesser-known names in the market, with a focus on companies working on innovative treatments, resilient software business models, and growth opportunities in emerging markets.
As the market continues to rally and defy expectations, investors are eagerly watching Cramer’s insights and recommendations for potential opportunities in the current environment.
