Jim Cramer says the stock market is a ‘work in progress' towards a rate cut

CNBC's Jim Cramer reviewed Tuesday's market action, telling investors the moves may be a good setup for rate cuts.

"You get a day like today, it's a work in progress toward a rate cut, hence why we rebounded in the late afternoon," he said."We have days like today that are good setups for a rate cut, but that doesn't give us enough evidence to truly move the needle.""You get a day like today, it's a work in progress toward a rate cut, hence why we rebounded in the late afternoon," he said.

Cramer also stressed that market action can't be explained in purely simple terms — even if such a fraught summation isn't satisfying. The market is not a monolith, so reasons for action are seldom cut and dry, he added. Cramer suggested that declines during Tuesday's session can't solely be attributed to falling"I know, it's prosaic. I know it lacks punch. It doesn't make things simple," he said.

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