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Jim Cramer’s Positive Outlook on the Market

Key Worries Addressed

Recent market movements showcased an upward trend despite concerns arising from Evergrande’s challenges in China. The Dow Jones and S&P 500 posted gains after a few days of decline, lifting market spirits. Jim Cramer, the host of CNBC’s Mad Money, mentioned that these developments have addressed some significant worries troubling the market.

Cramer expressed, “While I still harbor some concerns, two major worries have been resolved.”

Cramer’s optimism was further bolstered by the Federal Reserve’s decision to maintain its current monetary policy. Many had feared that the Fed would adopt a stricter stance due to inflation, but this fear did not materialize.

Cramer commented, “For those who were expecting the Fed to act tough on inflation today, the current scenario calls for investing in stocks as Powell has allayed these concerns.”

Regarding Evergrande, the news of the company meeting its payment obligations and averting default provided another boost to the market.

Cramer explained, “Evergrande faces another payment deadline tomorrow for foreign bondholders. These bondholders are mainly from countries highly reliant on China. Therefore, they are likely to absorb the losses. Despite media reports, Evergrande’s risk was not systemic as global entities still prefer engaging with China and are willing to overlook financial setbacks.”

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