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  1. Home
  2. / Investing
  3. / Consumer Discretionary

Cramer: Comey Hearings Chop Down Trump's Economic Agenda

You can pretty much kiss his tax plan goodbye for this year.
By JIM CRAMER
Jun 08, 2017 | 11:14 AM EDT

Don't lose sight of the forest for the trees. Yes, it matters that James Comey felt pressured by President Trump. Is that obstruction of justice?

That's the tree.

The forest is the fact that these hearings are killing the economic agenda. There is too much grist for the Washington mill to think the president's tax plan is going to be even on the agenda in 2017.

What does that mean? It means it is going to be a market that worships at the altar of the 15 stocks I outlined yesterday and the kind of stocks that are CANDIES.

Sure, today Nordstrom JWN is front and center, too. Or it should be. As I said in my Facebook interview with Scott Gamm, you could make a case that the financials, the oils and the retailers are all trying to make a stand.

That's a lot that's good, for today. So the tension is there. Comey vs. Trump agenda vs. growth vs. value.

It's all on the table.

Stay focused on the forest. It means you need to revert to growth again for investing and a possible trade developing in a classic rotation to value for the moment.

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Action Alerts PLUS, which Cramer co-manages as a charitable trust, has no positions in the stocks mentioned.

TAGS: Investing | U.S. Equity | Consumer Discretionary | Markets | Politics | Stocks

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