Now that the market has officially entered the second half of the year, Jim Cramer took a moment to review the single worst sector in the S&P 500 — the financials, some of which report on Thursday.
"The financials were far and away the worst performing sector in the S&P 500 … that matters because the financials represent nearly 16 percent of the S&P," the "Mad Money" host said.
Many investor hopes were dashed this year with financial stocks. In December, the Federal Reserve raised interest rates for the first time in eight years, with the expectation that it would raise four more times in 2016. That would have been very positive for the banks, which earn money from customer deposits as the Fed tightens.
More than six months later, there have been no rate hikes and it is unclear if the Fed will act again soon because of global economic uncertainty