Three straight down days for U.S. stocks did not shake Jim Cramer’s bullish stance, with the Dow off nearly 0.8% Wednesday while the S&P 500 fell 0.5% and the Nasdaq just over 0.6%.
Higher oil prices are driving the pressure: Cramer said investors dumped retail and other discretionary names as consumers face tighter budgets, sending Comcast down 6.6% and hitting staples and home-improvement shares.
AI and bank stocks are keeping him constructive, with data-center semiconductors rallying despite the broader selloff and lenders holding up better than expected.
Brent above $100 a barrel is the key risk threshold in his view, though he said oil could retreat again if pressure around the Iran conflict leads to another policy shift, as it did after late-July airstrikes were paused.