CNBC’s Jim Cramer on Thursday highlighted weakness in sectors he previously considered bullish, like travel and leisure, housing and banks.
CNBC's Jim Cramer on Thursday highlighted weakness in sectors he previously considered bullish, like travel and leisure, housing and banks."The bear is roaming free right now except in tech. It's irrepressible," Cramer said."And without more sectors changing their coloration, any rally will still be constrained beyond a short oversold pop, unless employment cools, wage growth goes negative, and interest rates finally retreat from their record run higher.
Cramer said the market keeps losing"buyable groups" as formerly well-performing sectors go flat, adding that there aren't enough companies with strong prospects.He first pointed to the travel and leisure sector, which previously saw success post-Covid, with airlines, hotels and restaurant stocks running high.
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