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Kramer says the resurgence of the stock market fueled by scrambling to regain after Omicron’s overreaction

Jim Cramer on CNBC’s half-time report.

Scott Mlyn | CNBC

CNBC’s Jim Cramer said Tuesday that many investors were alert to the plunge in the market. New evidence suggests that the Omicroncovid variant may not be as serious as initially thought, accelerating the rush to regain stock.

“I think this surprised a lot of people because I thought that if I rewound the tape eight sessions ago, Omicron would spread basically like Delta. Delta really set back our economy. So far, that’s not the case. It was the case with Omicron, “Cramer said in” Squaw on the Street. “

Dr. Anthony Fauci, Chief Medical Advisor of the White House, suggested that after the initial figures were released by South Africa, it may not be as bad as initially feared, and preliminary data on the severity of Omicron is ” It’s a little encouraging. “

“Instead, the overreaction is so severe in both oil and common stock that people say,” Wow, we really oversold. What can we put in? Miss the dip. “Did you?” The host of “money” said.

The Dow Jones Industrial Average rose about 300 points on Tuesday to 646 points, the day after a surge of nearly 1.9%. As Kramer pointed out, investors are less worried about Omicron. Wall Street, which is in the losing week, has recently become unstable, as evidenced by the ups and downs of the Dow, since the plunge of 905 points on November 26th.

Kramer says the resurgence of the stock market fueled by scrambling to regain after Omicron’s overreaction

Source link Kramer says the resurgence of the stock market fueled by scrambling to regain after Omicron’s overreaction

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