The 'Mad Money' host explains that the stock market has remained strong because tariffs haven't been as impactful as expected, sensible mergers have been announced and employment remains robust.
The Fearless Girl statue is seen in the foreground as a banner announcing the IPO of Uber Technologies hangs outside the New York Stock Exchange, May 10, 2019.On the other hand, Cramer had warned against the quality of initial public offerings in 2019, arguing that they were the biggest threat to the bull market. So as IPOs have subsided, he said, "it makes sense that once they stop, we can go higher.
"Without all the new supply from IPOs, the corporate buybacks, they can finally work their magic, sopping up any excess selling, allowing stocks to rally," he said. Moreover, the recent string of merger announcements have caused the stocks of companies doing the buying to rally, such as . Plus, employment figures remain robust and the months of September, October and most of November are in the rear-view mirror, Cramer said.While Cramer noted that there are obvious caveats, such as the possibility of an "errant tweet" from Trump or a surprisingly disappointing quarter, he feels there is more to like than not to like.
"No, the stock market hasn't gone crazy, it's just that there's still a lot more good than bad in this environment," he said. "That's why I keep thinking that we can climb through the end of the year, with occasional hiccups that could give those still on the sidelines one more chance to do some buying."
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