November 5, 2024

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The profits of these 13 companies helped the markets rise

The profits of these 13 companies helped the markets rise

CNBC’s Jim Cramer on Monday provided investors with a list of companies he believes their strong workplaces have helped the market rally recently.

Here is his list:

  1. American bank
  2. Johnson & Johnson
  3. Goldman Sachs
  4. Lockheed Martin
  5. Netflix
  6. Procter & Gamble Company
  7. IBM
  8. Tesla
  9. AT&T
  10. supplying tractors
  11. CSX
  12. SLB
  13. American Express

“Earnings are sharply better than expected, and that — and not just the idea that the Fed might pause rate hikes after its next meeting — is driving the newfound market strength,” Kramer said.

The Wall Street Journal reported on Friday that the Federal Reserve may move to Slowing the pace of interest rate hikes in December.

Kramer’s comments come through Busy earnings week It houses some of the largest companies in the world. Some of the names set to be reported this week are big tech companies like Alphabet, Microsoft and Apple, as well as retail giants like Coca-Cola.

Among the companies that have reported outstanding results recently, Netflix and IBM were in the best quarter, Cramer said, advising investors to buy shares of the streaming giant “aggressively” and stay tuned IBM share price.

He added that companies that reported strong earnings exceed his list, strengthening his position that they have helped support the stock market recently. “I could have picked 10 more winners,” he said.

Disclaimer: Cramer’s Charitable Trust owns shares in Johnson & Johnson and Procter & Gamble.

Jim Kramer talks about what's driving this newfound market power