Jun 12, 2026
Jim Cramer believes conditions are getting bleak for stock market bulls.
On a recent episode of Mad Money, the CNBC host didn’t beat around the bush about his bearishness. “Things have changed. For the worse,” Cramer warned, adding that, “There’s a shroud over this market and you ignore it at your own peril.”
Advertisement
Although there are multiple clouds darkening the market in Cramer’s mind, the most significant is the latest employment data from the Bureau of Labor Statistics. Unlike what many analysts expected — Cramer included — these numbers were actually pretty good, with total nonfarm payroll employment increasing by 172,000 in May. Although unemployment data is still relatively high at 4.3%, it didn’t go up from last month, which is yet another positive sign.
But while this may be “good news” for the overall economy, it’s a bummer for stock investors.
As Cramer pointed out, such high employment numbers mean the Federal Reserve is far less likely to cut interest rates this year. In fact, Cramer was so impressed with these employment numbers that he even suggested a rate hike might be possible. As Cramer said, “You could argue we might need a rate hike to cool the economy, not a rate cut to turn the temperature up.”
Few economists share Cramer’s view that rate hikes could be coming down the pike, but polls show the likelihood of a cut is pretty much gone.
CME Group’s FedWatch Tool now has odds at 96% that the Fed will keep rates steady at its June 17 meeting, while another Reuters report found that 70% of surveyed economists expect no rate cuts in 2026.
Apple implodes before SpaceX explodes
It isn’t just the rate cut issue that’s giving Jim the jitters, as he’s also wary that all the recent hype in Big Tech is showing signs of fatigue.
Case in point: Cramer noted how Apple’s stock declined after its 2026 Worldwide Developers Conference. News about Siri’s AI integrations with Google Gemini weren’t enough to wow investors, who sent shares tumbling by about 7% between June 4 and June 10.
Advertisement
Speaking of Google, Cramer mentioned the $80 billion equity raise parent company Alphabet just completed to build its AI data centers as another warning sign. If more Big Tech players like Meta or Amazon use these equity deals to compete in the AI race, Cramer argues it could drain the public markets of the cash they need to push stocks higher.
And then there’s the historic $1.7-trillion SpaceX IPO that Cramer fears could create a big mess.
Although Cramer said SpaceX shares are “unlikely to bomb” on the first day due to oversubscriptions, he worries that the stock may open at extremely high levels once it reaches the public market, only to trigger a “sickening decline.”
Must Read
- You can now build wealth like a landlord for as little as $100 — and no, you don't have to chase down rent or take 3 A.M tenant calls
- Goldman Sachs used to hoard prime real estate deals for the ultrarich. Two ex-analysts just opened the door for $250
- Robert Kiyosaki begs investors not to miss this ‘explosion’ — says this 1 asset will surge 400% in a year
Join 250,000+ readers and get Moneywise’s best stories and exclusive interviews first — clear insights curated and delivered weekly. Subscribe now.
So, should stock buyers stay on the sidelines?
If you’ve been itching to buy into stocks after recent dips, Cramer encourages a bit of patience. As he recently said on Mad Money, “I am not that bullish. My bullishness can wait. I think you will get a better time to buy than right now.”
Although U.S. stock indices are now below their all-time highs, the S&P 500 still has a gain of about 6% year-to-date at the time of writing. All that being said, Cramer admitted that he’s still a bit “bullish” on SpaceX’s future, but only for ultra-long-term investors who don’t expect big gains in their lifetimes.
If you want to grab some SpaceX IPO shares, Cramer blesses placing a few limit buy orders for your grandchildren after the opening.
You May Also Like
- Dave Ramsey warns nearly 50% of Americans are making 1 big Social Security mistake — here’s what it is and the simple steps to fix it ASAP
- Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how
- Millionaires under 43 are reshaping investing — just 25% of their portfolios are in stocks. Here’s where their money is going
- Robert Kiyosaki issues grim warning for baby boomers. Many could be ‘wiped out’ and homeless ‘all over’ the country. How to protect yourself now
Eric Esposito is a freelance contributor on MoneyWise who loves making financial topics accessible and understandable to readers. In addition to MoneyWise, Eric’s work can be found in publications such as WallStreetZen and CoinDesk.
