CNBC’s Jim Cramer offered a list of stocks to buy on Friday if the market declines.
“I was very disappointed in the performance of the tech stocks today … That said, I think the market will let you into the best ones and you’re going to get better prices again,” the “Mad Money” host said Thursday.
While stocks jumped on Thursday on the heels of the softer-than-expected PPI reading, they slumped by the end of the trading session. The tech-heavy Nasdaq Composite and S&P 500 both ended down while the Dow Jones Industrial Average closed slightly up.
Cramer said that if the market takes a hit on Friday, there are several stocks investors should consider buying.
Here are his stock picks:
The July producer price index on Thursday showed a decline from June, with the PPI decreasing 0.5% compared to an expected 0.2% gain, according to Dow Jones estimates. The report comes a day after the consumer price index for July clocked in at 8.5% compared to an estimated 8.7%.
Cramer maintained that the inflation readings suggest the market isn’t headed for a massive sell-off even after seeing bright days this week.
“Inflation is not yet tame, but it’s tamer. And tamer inflation can break the old pattern of the market tumbling the day after any rally,” he said. “That didn’t happen this time and you can feel the confidence oozing back,” he added.
Disclosure: Cramer’s Charitable Trust owns shares of Amazon, AMD, Microsoft and Disney.