Cramer Remix: This industry is signalling there's no rationale for more rate hikes
J.B. Hunt Transport Services' downbeat earnings call on Monday should put to rest any ideas that the economy is too strong and that the Federal Reserve should tighten interest rates again, CNBC's Jim Cramer said Tuesday.
Cramer highlighted that officials explained the company's hot intermodal container business had cooled off, that prices could be cut to attract more business, and tariffs on Chinese imports had left too much inventory in the system. The major U.S. indexes all traded higher, with the Dow Jones Industrial Average and Nasdaq Composite rising about 0.30% and the S&P 500 moving north 0.05%.
The tech-heavy index picked up 0.30% during the session to close just above 8,000, about 1.6% off the all-time high it recorded in August.
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