Kramer said that one day after the Nasdaq crash, technology stocks may bottom out

CNBC Jim Cramer Indicates that technology stocks may bottom out on Thursday, a day later NasdaqTumbled 3.3% due to rising bond yields U.S. Federal Reserve Tightening concerns.

This “I am crazy about money” The host said that he is very happy that there are so many negative news in the market, because as the stock picker of his charitable trust, there are many names on sale.

“I really like that stocks look bad. I mean this is what you want,” Kramer said, as someone who wants to buy low and sell high. “Some of these stocks have been halved. I’m looking at stocks that are halved where money is making money.” He added, Reiterate his investment theme for 2022, “I am still not interested in those who are not making money.”

Kramer’s remarks came as Nasdaq futures were lower on Thursday, although Dow Jones index futures were slightly higher. The Nasdaq Index’s drop on Wednesday was the biggest one-day drop since February 2021. Dow Jones Industrial Average and Standard & Poor’s 500 Index After hitting record highs earlier this week, they fell 1% and nearly 2% respectively on Wednesday.

Kramer said he was encouraged by the pre-market drop in the Nasdaq on Thursday because “the sellers were eventually exhausted.” He added, “We may be the bottom factor,” he said. “I think you should focus on the bottom of the technology today.”

Kramer said: “Of course, the uncertainty is tomorrow,” when the government released the December employment report. “Tomorrow people will worry about a number that is too hot. But when everyone is worried about a number that is too hot, the problem becomes less important.”

According to Dow Jones data, non-agricultural employment is expected to increase by 422,000 jobs, and the unemployment rate is expected to drop to 4.1%. ADP looks at hiring by U.S. companies in December Estimated to have more than doubledHowever, ADP data does not provide a good predictor of government monthly reports during the pandemic.

Kramer commented on the markets of these two markets “Squeak Box” later “Street Corner” Before Wall Street opens on Thursday.

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