Cramer Warns Stocks Face Pressure From Higher Yields, Oil and June 12 SpaceX IPO
Updated
Updated · CNBC · Jun 5
Cramer Warns Stocks Face Pressure From Higher Yields, Oil and June 12 SpaceX IPO
3 articles · Updated · CNBC · Jun 5
Summary
Major U.S. indexes fell Friday after a stronger-than-expected jobs report drove Treasury yields higher, prompting Jim Cramer to warn the market could stay under pressure next week.
Higher rates and elevated oil prices are colliding with a heavy pipeline of stock sales, he said, forcing investors to sell existing holdings to fund new deals, including a closely watched SpaceX offering.
June 12 is the expected Nasdaq debut for SpaceX, and Cramer said stocks may struggle to resume their advance until investors finish raising cash for that and other AI-related capital raises.
Apple's WWDC, Oracle and Adobe earnings, and reports from Campbell's, Vail Resorts, Cracker Barrel, Chewy and Lennar are the main tests ahead for AI spending, consumer demand and housing under high rates.