With retail companies reporting consumer weakness, Cramer says stick to tech

"When the consumer's tapped out, or at least more frugal than she used to be, money managers don't wait around: They flee like rats from a sinking ship and park their money in a more reliable industry," Cramer said.on Wednesday discussed Wall Street's attitude towards consumer-focused companies, saying that consumer weakness has sent the stock of many companies shooting down.

"When the consumer's tapped out, or at least more frugal than she used to be, money managers don't wait around: They flee like rats from a sinking ship and park their money in a more reliable industry," Cramer said."Right now, that's enterprise hardware and software, which are suddenly on fire again."

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Jim Cramer's top 10 things to watch in the stock market TuesdayWall Street is set to open higher after the Nasdaq had its best day in the rough month of August.
Source: CNBC - 🏆 12. / 72 Read more »

Here are 18 stocks Jim Cramer is watching, including a big Goldman call on AI namesHere are some of the tickers on my radar for Tuesday, Aug. 22 taken directly from my reporter's notebook.
Source: CNBC - 🏆 12. / 72 Read more »

Jim Cramer's top 10 things to watch in the stock market WednesdayStocks are set to open slightly higher as investors look forward to Wednesday's after-the-bell earnings from Club name Nvidia.
Source: CNBC - 🏆 12. / 72 Read more »