Cramer: Things Are Looking Up
June was better than May, Cramer said Tuesday.
While the month of May only produced disappointing data, June seems to be another story. In June, inflation moderated, oil prices peaked and job growth resumed. New auto builds from truck and machinery orders, as well as homebuilding projects, seemed to improve this month. Perhaps more importantly, Cramer noted consumer spending increased in June.
Yet there is no real barometer of how the country is doing, Cramer said. We can look at employment, retail sales or housing numbers, but it's all approximation.
"I think it's far better to look and listen to what the actual companies tell us and the companies, every one, are saying things are getting better," Cramer said. "This month-to-month analysis is how a lot of the big money managers think."
Homebuilder Lennar , for example, is incredibly bullish. Apparel maker Phillips-Van Heusen also said June has been strong. Nike's quarterly results blew past expectations on Monday. Meanwhile, Fossil has said things continue to improve, even when it only makes discretionary items. Oracle recently said business around the world is picking up. Accenture said June could be one of the best months in a long time.
In the auto space, both Ford and General Motors said there have been upticks in their businesses. The auto parts retailers are also reporting strength.
"To me, all of this spells a month that you want to get ahead of, which is exactly what this market’s doing right now ... confounding the skeptics but telling the truth," Cramer said. "As much as this market’s run up over the last two days, I think we have to be more positive."
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