As stocks from a variety of sectors saw gains on Wednesday, CNBC's Jim Cramer examined what he believes is a multi-faceted bull market.
"This market feels almost blasphemous to me because we're being led by an outrageously bullish combination of stocks, the kind of stocks that absolutely should not be going higher at the same time," he said."This market feels almost blasphemous to me because we're being led by an outrageously bullish combination of stocks, the kind of stocks that absolutely should not be going higher at the same time," he said.
For example, he noted that industrial, utility and tech stocks are going up at the same time. Utilities usually see gains while industrials see losses, he explained, with the former doing well during a recession and the latter not so much. He also said many believe there's an"either-or" market where tech stocks can climb or other groups can.
This dichotomy means that there are many different camps of investors on Wall Street, and perhaps they're converging, Cramer said. Some feel weak inflation data could make the Federal Reserve cut interest rates, so they buy industrials while others feel the Fed will leave rates higher for longer, so they buy the utilities, he added.
"It's a strange confluence — a remarkable, unseen, unrecognizable bull market — one that happens when the buyers see every glass as half full, even if they're wrong," he said.Couple grew their basement side hustle into a business bringing in $4.5M per year: We'd ‘never seen anything like that in a bank account'
United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: CNBC - 🏆 12. / 72 Read more »
Source: CNBC - 🏆 12. / 72 Read more »
Source: CNBC - 🏆 12. / 72 Read more »
Source: CNBC - 🏆 12. / 72 Read more »
Source: CNBC - 🏆 12. / 72 Read more »
Source: CNBC - 🏆 12. / 72 Read more »