"Today our market was saved by strength overseas, for the first time in a long time. China and Europe bailed our stock market out," the "Despite the growing strife between the White House and those protesting police brutality nationwide, the American market caught a boost from a rally in the German market on a potential European stimulus measure, Cramer noted. Investors were also feeling bullish on the growth that China is seeing in auto sales and iron and copper, he said.
President Donald Trump on Monday threatened to mobilize the military if state and local governments fail to clamp down on civil unrest rocking the nation in reaction to the death in police custody of George Floyd, an unarmed black man, in Minneapolis more than a week ago. Market players, however, are keeping an eye on international markets to gauge the global economic recovery after a coronavirus pandemic brought world commerce to a near halt the past three months. The U.S. is in the midst of reopening its economy after spending months on lockdown to slow the spread of Covid-19.
"If the rest of the world's in better shape, well, that is fantastic news for our companies that do lots of business overseas, and ... it absolutely overshadows what's happening here," Cramer said.
*global central banks
I think Powell & The Fed deserve a lot of credit. Not only the liquidity, but their timing was impeccable, and they let investors know the markets wouldnt crash. Now the weather is better, businesses are re-opening and people are going outside Spending will happen
Suckers - they say one is born every minute.
No shit Sherlock. It has been artificially inflated for months.
Fed alone cannot do it.
Come on, it's the FED and only FED all this time, even today.
you mean made the rich richer 🤣
I dont believe that. It was the US Federal RESERVE. jimcramer GETTING WORRIED HE WILL BE HELD ACCOUNTABLE BY JoeBiden IN NOVEMBER AND GET TAXED UP TO THE MOOOOON 🚀🚀 CapitalPrivate1 AOC TRYING TO SHIFT THE BLAME. WE SEE IT !!
I was sure it was the Federal Reserve .
What about the Fed!?
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Source: CNBC - 🏆 12. / 72 Read more »