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These 6 shares will tell you where the market will go next

The transport sector has been away from gas for the last 10 trading days and investors are still suspected of a recession at the right time. FedEx, the global shipping company linked to everything from supply chain to e-commerce to China, is a better signal of the industry than the index itself because it is "most emblematic of what's happening right now in the market," Cramer said. The company, which has been unstable recently, will deliver its latest performance report in two weeks. Cramer said investors may be concerned about weak results and weak guidance. If the stock goes down, the sellers would feel justified, he said. "Before I made a big commitment to this market, I need to see FedEx reverse directions, indicating that a slowdown is finally being priced and the market risked and ready for a swing," he explained. The host said he was not looking at FedEx for a reading on the basis but as a referendum on a threatening recession. Cramer added that he was not worried that the economy could fall into recession, thanks to the Federal Reserve chairman Jerome Powell's patience policy. "I think this downturn in FedEx is based on the rear-view mirror when the Fed was still intended to outsmart the economy," he said. "But Powell saw the break and he changed his tune. He's with the good guys."

The transport sector has been away from gas for the last 10 trading days and investors are still suspected of a recession at the right time. FedEx, the global shipping company linked to everything from supply chain to e-commerce to China, is a better signal of the industry than the index itself because it is “most emblematic of what’s happening right now in the market,” Cramer said.

The company, which has been unstable recently, will deliver its latest performance report in two weeks. Cramer said investors may be concerned about weak results and weak guidance. If the stock goes down, the sellers would feel justified, he said.

“Before I made a big commitment to this market, I need to see FedEx reverse directions, indicating that a slowdown is finally being priced and the market risked and ready for a swing,” he explained.

The host said he was not looking at FedEx for a reading on the basis but as a referendum on a threatening recession. Cramer added that he was not worried that the economy could fall into recession, thanks to the Federal Reserve chairman Jerome Powell’s patience policy.

“I think this downturn in FedEx is based on the rear-view mirror when the Fed was still intended to outsmart the economy,” he said. “But Powell saw the break and he changed his tune. He’s with the good guys.”

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