As the bull market surged higher amid Republicans finalizing their tax bill, CNBC’s Jim Cramer took the temperature of the market to see if the strength could continue.
“We still don’t even know what’s finally going to happen in Washington, yet as I told you last night, we’re in a ‘damn the torpedoes, full speed ahead’ moment … because of corporate earnings — witness the pin action coming from Costco as well as Adobe,” the “Mad Money” host said.
With even Congress unable to stop the averages coming from reaching completely new highs, Cramer turned to the stocks as well as events he’ll be watching next week.
On Monday, Cramer will be focused on European inflation data, which could alter the fate of long-term U.S. interest rates. which’s also tied to one of Cramer’s biggest market fears.
“I know which’s crazy which what they do over there definitely matters over here, yet my biggest worry about which market can be which the banks aren’t doing enough money coming from lending. as well as why does which matter? Well, which could cause a slowdown in 2018 if we aren’t careful,” he said. “[which’s] the last thing we need when the Fed can be tightening. which’s how you get a recession, for heaven’s sake. So we’re in which nutty position of wanting more inflation in Europe if we want to eliminate a major risk to the market’s continued move higher.”