Jim Cramer’s got his eye on Europe.
He told his Mad Money viewers on Tuesday night that our stock market Tuesday was “saved from overseas.”
What he meant was that, while the U.S. is seeing protests in all 50 states following the killing of George Floyd by Minneapolis police officers, the reopening of other countries in Europe and also China give investors hope.
Europe is showing signs of a pulse as countries get serious about additional coronavirus stimulus packages. As Europe strengthens, the U.S. dollar is expected to weaken.
“But I have been watching other places besides the United States, and they are flashing green. I think they can surprise us -- even give our international companies a boost. I'm talking about the possibility of aggressive stimulus in Europe, including Germany, where they seem to be falling all over themselves to resurrect their gross domestic product as well as the now considerable turn in China replete with an 11% gain in auto sales, and a surge in iron ore and copper, the latter reaching an 11 week high. That's significant, because copper is still a tremendous bellwether of economic activity,” Cramer wrote Tuesday afternoon in his Real Money column.
He breaks down why he’s watching Europe and what it can tell us in the video above.
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