Markets traded higher in intraday trading Wednesday following Tuesday’s rebound.
The Dow Jones Industrial Average gained 265 points, or 0.77%, to 34,777, the S&P 500 rose 0.6% and the Nasdaq was up 0.41%, TheStreet's Joe Woelfel reported.
Ahead of his upcoming Action Alerts PLUS call live today at 11:30 a.m. ET, Jim Cramer told AAP senior analyst Jeff Marks that it is critical that investors take a serious look at this week’s trading action.
After a selloff Monday, markets rebounded Tuesday and then continued higher into intraday trading Wednesday.
So what was behind the market rollercoaster?
“We had a market that was very algorithmic,” Cramer said.
Cramer said markets encountered conflicting catalysts and changing headlines, notably around interest rates and the delta variant, all wrapped up in a stronger-than-expected corporate earnings season.
“Maybe we had the shakeout,” Cramer pondered, referring to Monday’s selling, adding that he thinks markets may still be oversold.
That bullishness all comes down to earnings, Cramer said. “Every earnings is better than expected,” Cramer said.
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Recap TheStreet Live: Everything Jim Cramer Is Watching 7/21/21