CNBC Investing Club

What Cramer is watching Wednesday — recession or Fed winning, and broad fintech cuts

People walk by the New York Stock Exchange on May 12, 2022 in New York City.
Spencer Platt | Getty Images News | Getty Images

What I am looking at July 6, 2022

Was Micron (MU) the first time we saw a stock rally after a forecast cut and was that because it sold at only 5 times earnings? If rates falling are a sign of a recession why is the most sensitive section to recession, the homebuilders, climbing? Or could the decline in rates be a sign that inflation is receding and the Federal Reserve is winning?

Piper takes American Express (AXP) price target down to $163 per share from $202, worries an economic slowdown will disrupt discretionary spend and cross border travel even as there's no sign of that happening. PayPal (PYPL), to $93 from $140; Block (SQ) to $84 from $105. Likes AXP more. Same with Visa (V) to $204 from $239. This one will trade with AXP. Mastercard (MA) to $298 from $357. Fintech remains hated?

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