JPMorgan stock will bounce back, Jim Cramer says
CNBC • • business
Key Points:
- JPMorgan Chase's shares dropped over 4% after its earnings report, despite beating expectations, due to CEO Jamie Dimon's cautious remarks and a decline in investment banking fees.
- Jim Cramer advised investors to wait a day or two before buying JPMorgan shares on weakness, citing the stock's history of bouncing back after similar sell-offs.
- Retail stocks showed notable gains during the session, with companies like Walmart, Target, and Home Depot benefiting from signs of tame inflation and expectations of lower interest rates.
- Enterprise software stocks faced pressure amid concerns that artificial intelligence could render some products obsolete, while AI-focused companies like Intel and AMD experienced gains.
- Cramer emphasized that with earnings season underway, market reactions will become clearer as
