It may be tempting to ask, “Who cares about stocks?” Jim Cramer said Tuesday on CNBC’s “ Mad Money .” After all, companies are controlled by the rich and corruption has been known to run rampant in the financial space.
But Cramer told a different story Tuesday, when all the major averages closed near session highs on Bernanke’s open-ended testimony before Congress. The Dow Jones rallied 78 points to end at 12,805, the Nasdaq rose 13 points to land at 2,910 and the S&P 500 gained 10 points to trade at 1,363.
“I have trouble with this ‘totally corrupt thesis,’” Cramer said. “The dictum that says [the market is] ‘rigged’ and it isn’t worth it because the big guys have too many advantages versus homegamers like you.” He then began to dismantle the notion that all markets were weak by pointing out a handful of key bright spots in the stock market.
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