While gains have since been muted, stocks moved higher after Consumer Price Index Data for May came in at 0.6%, a slight increase from April's read.
Jim Cramer told Action Alerts PLUS senior analyst Jeff Marks that he’s putting his attention on how investors react to economic data.
Cramer said that if you actually believe inflation is coming in, the drug stocks should be lower.
“Investors are buying stocks they should be selling,” Cramer said.
Recap TheStreet Live: Everything Jim Cramer Is Watching Thursday