What’s behind the recent rally in financial stocks? An era of good feeling, Jim Cramer said on “Squawk on the Street.”
“I can’t buy a share in ‘America feels better.’ I can’t buy a share in ‘retail sales are strong.’ So let me buy a share in this thing called Bank of America, which seems to kind of encapsulate these feelings,” Cramer said.
Financials led the S&P early Thursday. Bank of America shares soared on earnings expectations and better-than-expected revenue estimates.