CNBC’s Jim Cramer said many of Tuesday’s corporate earnings reports do not indicate there is a serious recession on the horizon.
While Wall Street may still be rattled after Monday's massive sell-off, CNBC's Jim Cramer said many of Tuesday's corporate earnings reports do not indicate there is a serious recession on the horizon.
"When you run down the companies that reported in the last 24 hours it's very hard to make the case that we're headed for a serious recession from here," he said."I think we're in a recessionless recession because I follow the actual micro data from individual companies that report," he said."When you run down the companies that reported in the last 24 hours it's very hard to make the case that we're headed for a serious recession from here.".
And although some fear consumers are not spending money on discretionary items and services, Cramer pointed to solid figures posted by several companies in this category., and Cramer was impressed by the company's increase in deliveries and gross bookings. If a recession were imminent, Uber would not be able to put up strong results, Cramer said.
"There was just great quarter after great quarter after great quarter this morning. They just can't be seen by those who refuse to do the homework and only listen to central bankers," Cramer said."It does rankle me, but in the end, it doesn't matter because we can see both the forest and the trees.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Jim Cramer's top 10 things to watch in the stock market TuesdayU.S. stock futures rose Tuesday after Monday's sharp market sell-off.
Read more »
Jim Cramer's top 10 things to watch in the stock market TuesdayWall Street was mixed Tuesday, heading into the continued onslaught of tech earnings.
Read more »
Jim Cramer's top 10 things to watch in the stock market TuesdayOn tap Tuesday: Key earnings reports from Alphabet, Tesla and other big companies.
Read more »
Jim Cramer examines Tuesday's rally, says some investors missed out on gainsCNBC’s Jim Cramer explained Tuesday’s market action, saying buyers were encouraged by a low CPI, and many are anticipating a Trump win in November.
Read more »
Jim Cramer's top 10 things to watch in the stock market TuesdayU.S. stock futures rose after better-than-expected earnings and retail sales data.
Read more »
Jim Cramer's top 10 things to watch in the stock market TuesdayWall Street pushed higher after more records for the S&P 500 and Nasdaq.
Read more »