CNBC’s Jim Cramer says he doesn’t think the stock market will drop in December as it did last year.
December has historically been the strongest trading month of the year, but last year the S&P 500 dropped more than 9% after months of selling.
This year, Cramer sees “green shoots” in Europe and expects markets to have a strong finish to 2019.
CNBC’s Jim Cramer said Monday he doesn’t think the stock market will drop in December as it did last year.
“Nothing worries me in the sense of looking for a big sell-off in December,” Cramer said on “Squawk on the Street.”
“I’m seeing ‘green shoots’ in Europe from auto sales,” the “Mad Money” host said, referring to signs of economic recovery in a downturn. European car sales rose 8.6% in October to their highest level since 2009. However, global car sales are expected to see their steepest year-over-year decline since the 2008 financial crisis.
December has historically been the strongest trading month of the year. But 2018 saw the S&P 500 drop more than 9% in the final month. The market, after months of selling, bottomed on Christmas Eve before staging a 2019 rally that could give stocks their best yearly gains in a generation. The S&P 500 closed at a record high on Wednesday.
The inverse-Cramer is perhaps the most reliable signal in the market, gents.
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