CNBC’s Jim Cramer on Thursday gave investors three options for a collection of groceries that they can seek refuge in, as the stock market continues to see signs.
“With commodity prices falling sharply, food prices can become places of economic stagnation. But you have to be selective, which means sticking with the winners we know have good, ”he said.
All three major indexes fell on Thursday, the last day of the second quarter. The Dow Jones industrial average and the S&P 500 had the worst positions since the first quarter of 2020, while the Nasdaq Composite experienced its worst decline since 2008.
Host “Mad Money” says the food collection is a big hit in times of turmoil and is appropriate for the current market for two main reasons.
“First, commodity prices have already started to fall, and these provisions are going well. Biyu Second, almost everyone is convinced that we are in a recession, and while I am not satisfied, that is causing a lot. best for Steady Eddie food, ”he said.
Third Place: Campbell Soup
Campbell beat his top and bottom lines in his final quarter and raised sales expectations for the year.
“This isn’t my favorite food game, but I haven’t really enjoyed much about Campbell Soup in a long time,” Cramer said. This may interest you : As grocery prices soar, NY boosts food aid for the needy.
2nd Place: Kellogg
Kellogg said last week that it plans to split three different companies that will divide its product range into snacks, cereals and plant products. On the same subject : Second Home Splurge Fuels Real Estate Market in New Markets.
The business, which features outstanding products including Froot Loops, Pop-Tarts and Rice Krispies, is expected to be completed by the end of next year.
“The lack of their snacks in particular is alarming, and I think it would be much more valuable as a private company that does not host the growth of the North American grain business. In addition, we do not have a lot of good quality products. . is playing on snacks, “Cramer said.
1st Place: General Mills
General Mills beat Wall Street statistics on earnings and earnings in the last quarter, although its full-year earnings fell short of analysts’ estimates. On the same subject : Business leaders in the UK are the darkest since the early days of covid. Shares reached a new 52-week high on Thursday.
Cramer praised the company’s “dry quarter” and called the company the best employee of its kind that has been at the forefront of its game for decades.
“I think it’s worth buying here, but you could leave a room to buy more next time we get back in the market,” Cramer said.
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