Market mavens who claim the economy is sputtering are full of hot air, Jim Cramer said Monday on CNBC's "Stop Trading!" segment.
Cramer, appearing an hour earlier than before in the segment's revamped format, noted Monday's sharp selloff in commodity stocks. But the steep decline in gold, copper and oil prices -- and in related shares -- doesn't mean the economy is weak, Cramer said. He pointed to recent rallies in retailers like
, saying the consumer remains fully employed and able to spend.
By contrast, the falling price of crude oil probably means bad things for
shareholders, Cramer said.
The economic-slowdown talk stems from a media obsession with telling the negative side of any story, Cramer said. "This is a joyous time in the market," Cramer said. But everyone, he added, is "finding the dark lining" in what should be a silvery cloud of declining commodity prices and continued strong employment.
Cramer said he believes commodity prices are falling because the standoff with Iran over nuclear weapons production now appears likely to end peacefully. He said the apparent likelihood of a settlement with the European Union is taking some of the terror premium off oil prices, which are the lion's share of the big commodity indexes.
The commodity selloff is also fueling Monday's run in tech names like
, Cramer said.
is now the model," Cramer said, referring to news that the
chip spinoff is in talks for a possible leveraged buyout. Cramer said he believes there will be some buyouts in techland, though he doubts there will be as many as seem to be priced into Monday's rally.
But given the fact that tech stocks couldn't be given away as recently as last month, Cramer said he's not eager to rain on the sector's parade.
"Everything tech is reflecting rosiness," Cramer said. "I'm not going to get in the way of that."
At the time of publication, Cramer had no positions in stocks mentioned.
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