Jim Cramer says the earnings of these 13 companies helped drive markets higher

CNBC’s Jim Cramer on Monday offered a list of investors whose solid quarters he believes have helped the market’s recent rally.

Here is their list:

  1. Bank of America
  2. Johnson & Johnson
  3. Goldman Sachs
  4. Lockheed Martin
  5. Netflix
  6. Procter & Gamble
  7. IBM
  8. Tesla
  9. AT&T
  10. Tractor Supply
  11. CSX
  12. SLB
  13. American Express

“Earnings have been much better than expected, and that — not just the idea that the Fed might hold off on rate hikes after the upcoming meeting — has been driving the market’s new strength ,” Cramer said.

The Wall Street Journal reported on Friday that the Federal Reserve may move to slow the pace of interest rate hikes in December.

Cramer’s comments come during a busy earnings week featuring some of the world’s biggest companies. Some of the names to report this week are Big Tech firms such as Google parent Alphabet, Microsoft and Apple, as well as retail giants such as Coca-Cola.

Of the firms that reported standout results recently, Netflix and IBM had the best quarter, Cramer said, advising investors to buy the streaming giant’s stock “aggressively” and keep an eye on IBM’s stock price.

He added that the companies that reported solid earnings go beyond his list, which strengthens his case that they helped prop up the stock market recently. “I could pick 10 more winners,” he said.

Disclaimer: Johnson & Johnson and Procter & Gamble shares are owned by Cramer’s Charitable Trust.

Jim Cramer on what's driving the market's new strength

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