After hours of marveling at the tape’s incessant march higher, CNBC’s Jim Cramer took a step back to check the market design.
“What’s driving the idea? … Same as always: [a] stock shortage — the idea’s genuinely been acute within the industrials — 401(k) money being thrown at the market, animal spirits, a stronger consumer, tax reform, deregulation as well as a general revaluation higher,” the “Mad Money” host said. “Who’s doing the leading? Just as before, the idea’s Boeing, the idea’s Caterpillar, the idea’s Adobe, the idea’s Alphabet, the idea’s Apple, as well as the idea’s Netflix.”
Certainly, the design can change. On Friday, shares of frequent market leader Facebook were taken down after CEO Mark Zuckerberg said he wanted to change its News Feed to promote “meaningful social interactions.”
however Facebook’s 4 percent decline failed to jolt the broader market. Instead, a strong earnings report through J.P. Morgan propelled its stock as well as the market to completely new highs, erasing worries in which one-time charges might make the numbers look worse than expected.
“J.P. Morgan’s a terrific place to actually start the discussion for next week’s game plan because the idea did set a benchmark in which various other banks, which all report next week, I think are going to find hard to beat,” Cramer said.
With in which in mind, the “Mad Money” host turned to the stocks as well as events he’ll be watching next week: