We recently announced a list of Jim Cramer sees an opportunity in pessimism and highlights these 12 stocks. In this article, we're going to look at where Unitedhealth Group Inc. (NYSE: UNH) stands against other stocks that Jim Cramer discusses.
In his latest appearance on CNBC's Squawk on the streetJim Cramer pushed back against widespread pessimism around the US economy, especially in the health of the consumer. Referring to recent data and strong bank earnings, he argued that sharp slowdown fears were overdeated:
“Consumer spending up is nice. I mean, for all the things you hear about, the pessimistic surveys, year after year are good. And David, I think, as we forget, as long as unemployment stays as low as it is, we're going to surprise people in the economy, despite a lot of turning and dragging when it comes to the White House.”
Also read: Jim Cramer List of 16 Stocks For Purchase Currently and Jim Cramer is a solution if the market has bottom and weighs 11 stocks
When asked if the consumer will remain strong in the face of political tariffs and noise, Cramer remained optimistic, saying that jobs matter more than headlines:
“I think the agri-consumer, as long as they have jobs, yes. I don't think they sit there and say, you know what, there's a tariff to come, I'm going to disappear. Now you can see that these numbers are being pulled through. I don't buy that.
He then moved to the recent displacement in equity markets, pointing out that even companies reporting solid gains have seen analysts have broken price targets, saying:
“The replacement that occurred from stocks is blocked. We are now starting to deal with how terrible it was. The market had just been, that sale was so fast and vicious until companies report good numbers, the analysts say, listen, very good numbers. I cut my price. I am not used to it.
Later, noting the latest Bank of America survey showing extreme bearishness, Cramer interpreted the results as a contrarian signal that could highlight an opportunity for investors:
“Well, I think in the end the essentials will go out. I think this survey is for pessimism. I mean, that's saying buying, not selling. So, I mean, I think people are really beaten down. I know people are beaten down.”
To make our list of the stocks that Jim Cramer mentioned, we listed the stocks he mentioned during Squawk CNBC on the street broadcast on April 15th.
