In This Article:
We recently published a list of Jim Cramer Sees Opportunity in Pessimism and Highlights These 12 Stocks. In this article, we are going to take a look at where Johnson & Johnson (NYSE:JNJ) stands against other stocks that Jim Cramer discusses.
In his latest appearance on CNBC’s Squawk on the Street, Jim Cramer pushed back against widespread pessimism surrounding the U.S. economy, particularly when it comes to the health of the consumer. Referencing recent data and strong bank earnings, he argued that fears of a sharp slowdown are overstated:
“Consumer spending is up nicely. I mean, for all the things you hear about, the pessimistic surveys, year over year is good. And David, I think that as we forget, as long as unemployment stays as low as it is, we’re going to surprise people in terms of the economy, despite the fact that there’s a lot of stir and drag when it comes to the White House.”
READ ALSO: Jim Cramer’s List of 16 Stocks to Buy Right Now and Jim Cramer Answers If the Market Has Bottomed and Weighs In On 11 Stocks
Asked whether the consumer will remain strong in the face of tariffs and political noise, Cramer stayed optimistic, saying jobs matter more than headlines:
“I think that the agri-consumer, as long as they have jobs, yes. I don’t think they sit there and say, you know what, there’s coming tariff, I’m going to just disappear. Now you can see these numbers are pulled through. I don’t buy that. “
He then shifted to the recent dislocation in equity markets, pointing out that even companies reporting solid earnings have seen analysts cut price targets, saying:
“The reset that happened of stocks getting clogged. We’re just now starting to deal with how awful it was. The market just had, that sell-off was so quick and so vicious that companies that are reporting good numbers, the analysts are saying, listen, really good numbers. I’m cutting my price target. I’m not used to that. I’m used to really good numbers and price target bump. “
Later, citing the latest Bank of America survey showing extreme bearishness, Cramer interpreted the results as a contrarian signal that could point to an opportunity for investors:
“Well, I just think that in the end, the fundamentals are going to will out. I think that this survey about pessimism. I mean, that says buy, not sell. So, I mean, I think people are really beaten down. I know people are beaten down.”
Our Methodology
To make our list of the stocks that Jim Cramer talked about, we listed down the stocks he mentioned during CNBC’s Squawk on the Street aired on April 15th.