After U.S. stocks kicked off the first trading day of the month and quarter with a modest gain, “Mad Money” host Jim Cramer on Monday said he thinks the U.S. is driving the bull market.
“In 2011, Europe was in the driver's seat, China was riding shotgun,” Cramer said. “As for the United States? We were in the backseat, hobbled by a divided Congress and a dysfunctional Washington.”
From the start of 2012, however, things changed. The U.S. economy showed signs of improvement and before long, the U.S. was in the “driver’s seat.”
China is still “riding shotgun,” though. Strong manufacturing data from the People’s Republic eased concerns of a hard landing in the world’s second largest economy.
But what does it mean to have the U.S. driving? To Cramer, it means that everything from tech to travel and housing- or auto-related plays can all power higher.
“The U.S. is driving the car, just like it did during the great bull markets of the '80s and '90s,” Cramer said. “As we enter a brand new quarter the same way we exited the last one, you might very well be surprised by how far this car can go with a robust and sober driver behind the wheel.”
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