CNBC's Jim Cramer on Tuesday said the market has fooled the bears as stocks continue to power through adversity.
Boeing has had its share of negative news coverage in the wake of a second crash involving its top-selling 737 Max plane. Still, the stock is up more than 18% in 2019. Apple's stock has nearly reached $200 again after widespread selling, Cramer noted. Shares bottomed at $142 in early January after the iPhone maker preannounced that sales would be weak. The host said the recovery wasn't powered by any news that confirmed sales improved or that the United States has settled trade issues with China."And with today's announcement of a truce with Qualcomm, my biggest worry had been that Apple would be late with 5G.
"They've come on strong in Europe and I am betting the U.S. will rebound this quarter," Cramer said."So Nike definitively deserves the benefit of the doubt, but it's still kind of amazing … The stock's getting it, although it was a delayed reaction." "In fact, the stock's saying that Caterpillar will report a good quarter next week. Of course, stocks turn out to be wrong all the time, but I think CAT is worth owning," Cramer said.
"If you were waiting for the company to give you some sort of all-clear, which many of you are, well I think you'll get it when they report again because it's lawn and garden season. But you have waited too long," Cramer said."Maybe next time give management the benefit of the doubt."
Which means they’ll soon tank, given his record.
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