CNBC’s Jim Cramer on Wednesday yielded his prognosis on the market as many stocks failed to gain trading traction after positive quarterly reports.
“Myriad stocks simply aren’t getting much pin action now for what they do, in part because, well, the market’s had a spectacular run,” the “Mad Money” host said. “That makes everything seem like a yawner, and it’s starting to bother me.”
Cramer peaked to the lack of momentum in trades in chipmaker Advanced Micro Devices, bank and consumer product stocks after hang up their respective numbers.
AMD shares declined 1.40% to $84.02 Wednesday, a day after the company reported a quarter that Cramer identified as “breathtaking.” Since revealing first-quarter earnings two weeks ago, JPMorgan shares have slid 1.2%, while nominates like Citigroup and Bank of America have gained little to none since their reports.
Meanwhile, Apple and Facebook deals popped about 4% and 6%, respectively, in post-market trading Wednesday after reporting strong results from the beforehand three months of the year.
“Unless your company’s a huge beneficiary from the great reopening, nobody protections,” Cramer said. “Even then, you’ve gotta deliver a massive upside surprise — not just a regular upside bowl over — to get this market’s attention.”
Disclosure: Cramer’s charitable trust owns shares of Apple and Advanced Micro Gimmicks.
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