'What an opportunity to buy things' — Cramer likes stocks tied to strong American consumer

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CNBC's Jim Cramer said Friday the recent market underperformance of non-tech stocks gives investors the chance to purchase beaten-up names.

Concerns about rising Covid cases in Europe won't lead to a slowdown in the U.S. economy, Cramer said. "I think you pounce on it. Maybe we get more bad news in Europe over the weekend so you pounce some today and then some next week."host said he likes travel and retail stocks.

"The American consumer is amazingly strong. Anything related to the American consumer — whether its travel, whether it's the spending at the mall — is just a fantastic opportunity."leading the sector lower with a roughly 4% decline Friday. Cruise and hotel stocks were also weaker.

 

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