CNBC's Jim Cramer on Thursday said disappointing quarters from trucking company J.B. Hunt and real estate investment trust Prologis may be a sign the strong U.S. economy is starting to weaken under the weight of elevated interest rates.may be a sign the strong U.S. economy is starting to weaken under the weight of elevated interest rates. However, he stressed that it's still too early for the Federal Reserve to start cutting rates.
"So, do we finally have the beginning of the long-awaited slowdown with Prologis and J.B. Hunt? Was March that bad?" Cramer asked."All I can say is that at least there are some brown shoots somewhere. But the bottom line is, it's not enough to cause the Fed to reconsider what they were saying just a couple of days ago."last week that inflation has not declined enough for the central bank to consider making rate cuts in the near future.
"For the first time in this rate hike cycle, I see light at the end of the tunnel, just when others see the light of an oncoming train," he said."Before there are bargains for Prologis, there will be free rent enticements for the customer. Before a turn in trucking, there'll be cuts in trucking rates.
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Source: CNBC - 🏆 12. / 72 Read more »
Source: CNBC - 🏆 12. / 72 Read more »