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We’re not in a bull market anymore. At least, that’s what Jim Cramer is saying.
In an interview with TheStreet, Cramer said that market has gone “full-blown bear.”
Apple was down when the bell kicked off trading on Monday morning. Investors have felt pretty skittish ever since it released earnings earlier in November.
The company’s latest hit comes from weak demand for the new iPhones. The company has also told suppliers that it will be cutting its production plan for the iPhone XR.
Cramer responded to the market sell-off and expressed his doubts.
In the past month, Apple has fallen nearly 16%.
Pfizer is Real Money’s stock of the day.
The drug company announced Monday morning that it plans to raise prices on over 40 of its drugs.
When asked how he felt about the raising of rates, Cramer sighed.
Curious about the effect this could have on Pfizer’s stock and other sectors? Real Money will have wall to wall coverage on the drug company all day Monday.
The trade war is still ever-present.
In his column for Real Money this morning, Cramer discussed the dual-sided issue of the trade war.
While President Donald Trump tends to sound upbeat when it comes to solving the trade war with the Chinese, Vice President Mike Pence does not seem so positive.
“It gets worse. President Trump intimates that there are lists and asks going on behind the scenes that make something magical a possibility. Vice President Pence is trying to contain the Chinese the same way we contained the Soviet Union,” Cramer wrote in his column. “The big difference? The Soviets were rich and powerful and totalitarian enough to be self-funding. Pence makes it clear that we are the ones that have been funding China’s ambitions with our trade — and now it is time to shut all trade down so they don’t have enough money to continue to challenge us technologically, militarily and, yes, imperialistically.”
“And we are winning. How do investors know? Because Pence told us in his APEC speech: “China’s largest stock exchange fell by 25% in the first nine months of this year, in large part because of our administration has been standing strong against Beijing’s trade practices.” Yep, Trump has started a Communist Bear Market and now it is time to finish it,” wrote Cramer.
Cramer gives his thoughts on the trade war and what investors can expect.
Got a question about the market? Reach out to @KatherineRooss on Twitter or email her at [email protected] for a chance to have Cramer answer your question.
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