Stocks tumbled in reaction to the news that private payrolls gained only 41,000 in May.
But Jim Cramer, host of CNBC’s Mad Money, sees seven stocks that can thrive in the uncertain economic environment.
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“What stocks come back the hardest?’ Cramer asked on his show.
“Ones that seem impervious to the sick men of Europe or the soft landing in China, or Washington’s pro-labor, anti-capitalist stances or even the (oil leak) catastrophe in the Gulf.”
He calls these seven companies the CANDIES, signifying the first letter of their names:
• Chipotle, the restaurant company;
• Apple, the technology king;
• Netflix, the movie delivery giant;
• Deckers Outdoor, a sandal maker;
• Intuitive Surgical, which provides robotic surgical equipment;
• Express Scripts, a pharmacy benefits manager;
• Salesforce.com, which makes business software for sales and customer service.
“They (these stocks) are the ones that come back the fastest,” Cramer said.
“I call them the coiled springs. What makes them so special is outsized growth, plain and simple. It’s growth that keeps going and going.”
The stocks’ valuations aren’t cheap, Cramer acknowledges. “But they come back fast, come back hard.”
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Some experts still see strength in the stock market overall.
"Everything is moving in the right direction. It's just not moving as fast as they (stock traders and investors) want to see," John Silvia, chief economist at Wells Fargo Securities, told the Associated Press.
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