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Cramer likes stocks tied to strong American consumer

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CNBC’s Jim Cramer said Friday the recent market underperformance of non-tech stocks gives investors the chance to purchase names that do well when Americans spend their money.

“What an opportunity to buy things that are being thrown away left and right,” Cramer said on “Squawk on the Street,” as Dow futures pointed to an over 200-point decline as Austria announced a fourth national lockdown starting Monday. “I think travel is good. I think retail is great.”

“We’re oversold. The Dow has been down for a long time. Technology can’t always lead us,” Cramer said, shortly before tech-stock strength at the open initially pared losses in the S&P 500 and the 30-stock average. The Nasdaq carried…



Source cnbc.com

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