Scott Mlyn | CNBC
CNBC’s Jim Cramer said there are investors who want to sell stocks, regardless of positive earnings or encouraging economic data. That’s putting pressure on U.S. equities on Thursday, he added.
“Someone is a seller. … There is big money that wants out right now,” Cramer said on “Squawk on the Street.” “I think a lot of people are very confused about what’s going on in Nasdaq. Amazon down 10% since the week began, so consequently there’s no bid underneath, no natter what the companies say.”
However, Cramer said he doesn’t believe the sellers will necessarily dominate Thursday’s trading session. “That will change probably midday. I think it’s an OK day,” the “Mad Money” host predicted.
Cramer said he thought the June retail sales figures, which rose more than anticipated, were a positive economic sign. Yet he said it didn’t seem to change the sentiment at the open. Nor did better-than-expected earnings reports from Morgan Stanley, Dow-stock Johnson & Johnson and Abbott Laboratories, he said.
“When you get like that, that just says, ‘OK look, let the sellers get their job done.’ There’s some agenda here. They’re obviously not caring about news,” Cramer said.