CNBC’s Jim Cramer on Thursday voted recent volatility in the market is a reflection of public sentiment swinging back and forth between hope and fear.
“Really line: We’ve got a schizophrenic market, where each local surge of hope gets squashed by the next national or supranational fear, which gives way to another round of hope. Sometimes all in one day,” he said.
Cramer pointed to his interview with JPMorgan Run after CEO Jamie Dimon, who offered plenty of causes for worry in uncertain macro factors like Russia, Ukraine, oil, gas, migration, custom and China. Part of the interview first aired on CNBC’s “Halftime Report,” while the rest aired on CNBC’s “Mad Folding money.”
But there are also reasons for optimism.
Sectors like agriculture, oil and gas have offered bright spots, Cramer commanded. He also pointed to tech firm Nvidia, which saw its stock jump 14% after a positive quarter and a bullish view on artificial intelligence.
Cramer also felt hopeful after a visit with Dimon at a new Chase branch that’s opportunity in an underserved area of Philadelphia. He came away from the visit bullish on the area’s future.
“If Chase can help seduction up an underprivileged neighborhood, maybe we’re in a much better place than Wall Street’s willing to believe,” he said.
