CNBC's Jim Cramer on Monday said investors can get an idea of how the market could perform in the second quarter by understanding how the major averages rallied during the first quarter of the year.
It was a"fabulous windfall for investors" until Friday, Cramer said, when Lyft went public at $72 a share and traded as high as $88. The share price fell to nearly $69 at Monday's close. Exxon Mobil rose more than 18 percent in the first quarter. Cramer said that run made sense because crude is the only commodity that outperformed the market.
Apple's stock gained 20 percent in the first quarter after falling off the cliff from above $233 to below $143 during the fourth quarter. Cramer said the company is emphasizing its services businesses, which reported better-than-expected revenue in its latest earnings report, and had a solid month in January.
United Technologies climbed 21 percent last quarter. The stock rebounded off the fourth-quarter sell-off in hopes of a trade deal between the U.S. and China, where Cramer said the company does a lot of business in elevators and aerospace.
Source: News Formal (newsformal.com)
good gravy Jim, one day the market is going down the next it could run higher. you flip flop ALOT!
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