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We recently published a list of Jim Cramer’s Latest Lightning Round: 7 Stocks in Focus. In this article, we are going to take a look at where SoundHound AI, Inc. (NASDAQ:SOUN) stands against other stocks in focus in Jim Cramer’s latest lightning round.
On Tuesday, Jim Cramer, host of Mad Money, spoke about the declining consumer confidence, which has been attributed to various factors, including tariffs, job losses, and other concerns.
“Big thing, this morning, the Conference Board’s consumer confidence index may be blanched. The expectations index based on consumer’s short-term outlook dropped 9.6 points to 65.2. That’s the lowest level in 12 years. You know it’s worse than Covid times?”
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He explained that the index is now well below the critical 80 threshold, which typically signals a recession. It marks the fourth consecutive month of declining consumer confidence, a trend Cramer finds very concerning. While acknowledging the severity of the situation, Cramer also pointed out a silver lining: the Federal Reserve can see these numbers and might take action if necessary. However, he also noted that the Fed’s future moves have become less predictable.
“When I see these numbers though, I think maybe the Fed can’t afford to wait until they see how much inflation the tariffs cost. We simply don’t want a recession here if it’s avoidable, but let’s address the consumer confidence issue head-on.”
Cramer went on to highlight several reasons why consumer confidence is eroding. He explained that many people in the U.S. are concerned about the White House’s actions, including layoffs and partial government shutdowns, which are contributing to fears of job insecurity. He noted that people are worried not only about layoffs but also about automation taking over jobs. Furthermore, Cramer noted that people are also anxious about the tariffs. In particular, there has been a lack of clarity from the White House on the necessity of some tariffs, leaving the public uncertain about the long-term effects.
As consumer confidence continues to erode, Cramer warned that people start to retreat, cutting back on spending, staying home more, and avoiding activities that contribute to economic growth. Cramer said that this is evident in the struggles faced by major retail companies, which are suffering due to reduced consumer activity.
“Is there anything the President can do about this? I think it might be time that he actually talks to people in a calm way about how many jobs could be created by cracking down on our so-called trading partners. Time to bury the hatchet with Mexico and Canada too, and don’t bury it in the head of Mark Carney, the new Canadian Prime Minister.”
