Jim Cramer Attributes Volatility To Public's Hope And Fear: 'We've Got A Schizophrenic Market'

Prominent market commentator Jim Cramer has reportedly said recent market volatility is an indication of public sentiment swinging back and forth between hope and fear.

"Bottom line: We've got a schizophrenic market, where each local surge of hope gets squashed by the next national or international fear, which gives way to another round of hope. Sometimes all in one day," Cramer said according to a CNBC report.

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Cramer also interviewed JPMorgan Chase & Co CEO Jamie Dimon who said reining-in inflation is a work in progress for the Federal Reserve, while also observing that the U.S. economy continues to display signs of strength.

Major Wall Street indices closed in the green on Thursday with the S&P 500 ending a four-day losing streak. Initial claims for state unemployment benefits reduced by 3,000 to a seasonally adjusted 192,000 for the week ended Feb. 18, reported Reuters citing the Labor Department. The SPDR S&P 500 ETF Trust SPY closed 0.53% higher while the Vanguard Total Bond Market Index Fund ETF BND gained 0.36%.

Optimism: The prominent market commentator also believes there are reasons for optimism and said sectors like agriculture, oil and gas have offered bright spots.

Cramer expressed hope after he visited a new Chase branch in an underserved area of Philadelphia with Dimon.

"If Chase can help pull up an underprivileged neighborhood, maybe we're in a much better place than Wall Street's willing to believe," Cramer said according to the report.

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