What to Watch in the Markets: The Fed, Deutsche Bank and More
Jim Cramer and Action Alerts PLUS Research Analyst Zev Fima are taking a look at the markets Monday, including the Fed, Real Money Stock of the Day Deutsche Bank and more.
What Will Get Jim Bullish Again?
Despite cooling off slightly following Friday's better-than-expected jobs report, markets have recently been at all-time highs.
In his daily Real Money column, Cramer noted that this kind of rally has investors spooked because it defies the norm of when one sector goes up, another goes down.
Cramer noted that this kind of market atmosphere has him neutral, with a higher volume of cash in his Action Alerts PLUS charitable portfolio, "I just am concerned that people don't recognize the risk of these new companies, whereas I don't think there's as much risk in Kohl's or CVS ." What to Listen for from Jerome Powell With Federal Reserve Chair Jerome Powell set to take the podium before both the House and Senate finance committees later this week, investors will be closely eyeing any clues to whether the Fed will cut interest rates on July 31 and to what extent.
Cramer breaks down what language to look for from Powell.
"I think that they need to see a Janet Yellen like, which is that, you know, we got some strong numbers, but we're going to take an aggregate view.
The rear view is jobless, but that number is strong.
We're, going to be independent of the president.
Our job is not to make the dow go to 10,000.
I think he's going to be more pointed in his criticism because the questions will be more pointed.
But ultimately I think if you're data dependent, then you're fine." Deutsche Bank Real Money Stock of the Day Deutsche Bank began a $8.3 billion restructuring overhaul that will see Germany's biggest lender retreat from global equity markets and slash 18, 000 jobs.
The German bank will shift its focus from its struggling business back to a client focus.
Will this be the "reinvention" promised by execs or are we seeing a case of too little too late?
Jim Cramer says its, "too little, too late.
It's just not a major bank anymore.
It's a minor bank.
Bank Santander is bigger.
That's the one we should be talking about.
Jim Cramer: Why Laggards Like Kohl's, Citi and CVS Can Rise Now A Bit About Today's Host, Zev Fima