Nike and FedEx quarters show important lessons for investors
CNBC’s Jim Cramer said of Wall Street’s reaction to Wednesday’s quarterly results: Nike When fedex Focusing purely on the Federal Reserve’s commentary and predictions about where the S&P 500 will go next is misguided.
both companies on Tuesday night reported better earnings than fearedsending each stock higher, Helps raise sentiment across the marketAll three major US stock indices posted strong gains on Wednesday, reversing some of the declines seen in December.
“There are a bunch of professional commentators and money managers who act like they have nothing to do with anything but the Fed’s statement and the price levels of the S&P 500,” Kramer said. , that line of thinking explains why few thought the rebound was coming today.”
Cramer said Wednesday’s positive sentiment could wane quickly and another wave of bearishness could hit the market. The unexpected rebound, driven largely by corporate earnings, shows the benefits of focusing on individual companies that can outperform expectations, he said. Too much focus on the S&P 500’s next move can make that task difficult, he said.
“Inventory is not a bushel of wheat or a bale of hay or any other type of grain. Individual companies vary greatly,” Cramer said.
https://www.cnbc.com/2022/12/21/jim-cramer-nike-fedex-quarters-demonstrate-key-lesson-for-investors.html Nike and FedEx quarters show important lessons for investors