CNBC’s Jim Cramer offered an inventory of stocks to purchase on Friday if the market declines.
“I used to be very disillusioned within the performance of the tech stocks today … That said, I feel the market will allow you to into the most effective ones and you are going to recover prices again,” the “Mad Money” host said Thursday.
While stocks jumped on Thursday on the heels of the softer-than-expected PPI reading, they slumped by the top of the trading session. The tech-heavy Nasdaq Composite and S&P 500 each ended down while the Dow Jones Industrial Average closed barely up.
Cramer said that if the market takes successful on Friday, there are several stocks investors should consider buying.
Listed below are his stock picks:
- Amazon
- AMD
- Microsoft
- Disney
The July producer price index on Thursday showed a decline from June, with the PPI decreasing 0.5% in comparison with an expected 0.2% gain, based on Dow Jones estimates. The report comes a day after the buyer price index for July clocked in at 8.5% in comparison with an estimated 8.7%.
Cramer maintained that the inflation readings suggest the market is not headed for an enormous sell-off even after seeing shiny days this week.
“Inflation isn’t yet tame, but it surely’s tamer. And tamer inflation can break the old pattern of the market tumbling the day after any rally,” he said. “That did not occur this time and you’ll be able to feel the boldness oozing back,” he added.
Disclosure: Cramer’s Charitable Trust owns shares of Amazon, AMD, Microsoft and Disney.
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