The Dow is lower in intraday trading, but the S&P and the Nasdaq were pushing higher.
Investors increasingly have become worried that rising inflation could prompt the Federal Reserve to raise interest rates, TheStreet's Joseph Woelfel reported.
Federal Reserve Chairman Jerome Powell, however, said inflation might take more than three years to hit the Fed’s target of 2%, meaning rates won't be lifted anytime before 2023. He also said rising yields are a sign of the market's optimism about an economic recovery.
In the video above, Jim Cramer explains why he sees touches of 2015 in today's market action.
Recap TheStreet Live: Everything Jim Cramer Is Watching in the Markets Friday