Cramer: Market shows fighting spirit
Jim Cramer | firstname.lastname@example.org
We've forgotten how powerful it is to have markets fight back from bad openings like we had yesterday morning. When we were in sea-of-red mode, you could see that the market could go down for the count, given that the insane prattle out of Washington is so toxic as to make you feel like an idiot for buying anything.
I find it so disabling. In the old days, the Republican Party was the party of fiscal conservation, but it spent just like Democrats under George W. Bush.
The GOP was always the party that business could count on. But by simply pushing the notion that the debt ceiling is something that isn't routine--as opposed to offering a real plan that can win over Democrats who know we overspend as a nation--the Republicans can't even work with business.
So it was reasonable to think that this market couldn't come back from that ridiculously harmful rhetoric that President Obama gave us yesterday, even as it is true that a shutdown of the government by Republicans making a stand over a refusal to pay our nation's bills is not what the Constitution intended.
How much better would it be for the Republicans if they just immediately agreed to a debt-ceiling deal and at the exact same time showed where $2 trillion could and must be cut? They would be heroes.
Nevertheless, the market shook off the negativity. I think that's because people want in, not out, and they are afraid of missing the action.
Very bullish for the longer term.
Futures lower after Amazon misses
July 25, 2014
S&P 500 futures and Nasdaq 100 futures are slightly lower with the e-commerce giant down more than 10 percent. European trading is mixed, while Asian bourses were mostly higher overnight.
Quiet calendar before busy week
July 25, 2014
The only economic headline is Germany's Ifo survey of business conditions ahead of a full calendar next week. AbbVie, LyondellBassell, Tyco, Vodafone, and Xerox issue quarterly results today.
Earnings, data send stocks higher
July 24, 2014
Stocks are poised to set new records today, fueled by strong earnings and economic data. Investors are specifically reacting to blowout numbers from Facebook and strong global manufacturing numbers.
Jobless data, home sales on tap
July 24, 2014
Initial jobless claims are the first data to be reported on this side of the Atlantic, followed by the Chicago Purchasing Managers Index and new home sales.
Bulls keep nibbling as earnings flow
July 23, 2014
S&P 500 futurs are up about 0.1 percent this morning while most of Europe is gaining about half a percent. Most of Asia was little-changed overnight.