As the skies get sunnier, so should retail stocks, said Jim Cramer on TheStreet.com TV's Wall Street Confidential video Tuesday.
"April was a parade of horribles" for consumer spending, he said. Gas prices went up, housing prices went down, but the most important thing was the weather. "I wish that retail was more immune to the weather, but it isn't," Cramer said. When the weather got better in the last 10 days, it brought up the retail names.
This is why he said he's been suggesting people buy
. In addition, Cramer said he likes
Retail might get a further boost if the Fed feels more able to act on a cut in interest rates. Earlier on Tuesday, Cramer had written that stocks could get pinched by a lousy earnings report from
, which also gave a negative forecast for the rest of this year.
But what he didn't count on was a macro number, the consumer price index, being so good that it flipped the market to heading higher, he said. As a measure of inflation, the number showed that although retail and housing were bad, inflation was under control. Now the Fed ease is "back on the table," Cramer said.
At the time of publication, Cramer had no positions in stocks mentioned.
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