×

Cramer: Stocks are climbing despite the 'sideshow' in Washington

  • Wall Street's rally goes on despite what's happening in Washington, Jim Cramer says.
  • "It's funny to see Secretary Mnuchin say, 'A lot of the rally is because of the hope for tax reform.' I think it is happening despite Washington," Cramer says.

Wall Street's rally goes on despite what's happening in Washington, CNBC's Jim Cramer said Tuesday.

After speaking with CEOs from U.S. companies, Cramer said many are "embarrassed" by what is going on and instead shift their focus to business-friendly developments abroad.

"There isn't anyone who doesn't feel that the sideshow is hurting us," Cramer said on "Squawk on the Street."

"So, it's funny to see [Treasury] Secretary [Steven] Mnuchin say, 'A lot of the rally is because of the hope for tax reform.' I think it is happening despite Washington," Cramer added. "I'm not trying to create fake news. I speak with a lot of CEOs."

Earlier Tuesday, President Donald Trump took a social media jab at Sen. Bob Corker, claiming the Tennessee Republican is "fighting" tax cuts and "couldn't get elected dog catcher."

Corker responded by calling Trump an "utterly untruthful president." The latest battle in their feud came amid the GOP push for tax reform.

Despite the exchange, stocks were higher on Tuesday. The Dow also opened at a record high.

"We're in a strange time because I think that we're very gripped by politics here. The rest of the world [is] kind of gripped by global expansion," Cramer said.

"I think we would be much more upbeat if we were not mired in things like what's going on with repeal and replace [Obamacare] and taxes," the host of CNBC's "Mad Money" said.

Sign Up for Our Newsletter Morning Squawk

CNBC's before the bell news roundup
Get this delivered to your inbox, and more info about about our products and services.
By signing up for newsletters, you are agreeing to our Terms of Use and Privacy Policy.