Jim Cramer Says Recent Market Rally Could Herald Long-Term Change: 'I Simply Can't Dismiss The Best Week Of The Year'

Jim Cramer, CNBC’s stock market commentator, has expressed optimism about the market progress observed in the past week’s rally.

According to a CNBC report, Cramer refused to write off the positive market performance seen last week as a short-term phenomenon.

He commented, “I simply can’t dismiss the best week of the year, where major strides were made.”

Cramer observed a broad rally in various sectors, including financials, e-commerce stocks, and semiconductor equipment. He also noted the significant decrease in long-term yields following a reversal in the bond market.

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Last week’s market gains, Cramer said, were “hard-fought victories” in an otherwise over-sold market. He also hinted at possible stability in interest rates, with no hikes expected in the coming months, following the recent Federal Reserve meeting.

Market sentiment towards businesses with substantial exposure to China has also shifted. Companies like Apple Inc. AAPL and Starbucks Corp. SBUX reported positive sales results last week.

However, Cramer warned investors not to deviate from their investment discipline, despite the consolidation and encouraging market trends. He suggested that investors keen on Nvidia Corp. NVDA shares should wait for a pullback before buying.

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