CNBC’s Jim Cramer said Tuesday that the Nasdaq’s winning streak reveals what’s moving the market. It’s not an Iran war. The tech-heavy index opened higher for its 10th straight positive session. Monday’s rally was the ninth in a row and the longest since December 2023. Cramer praised Monday’s session as “one of the best essays” on how markets are trading now, as Wall Street chooses to focus on the health of companies rather than betting on the outcome of wars. The Nasdaq has soared more than 12.5% since the Iran War ended on March 30th at $20,794. “The stock market is not a Strait of Hormuz trade. It is not a Trump trade. It is not an oil tanker trade. It is a trading company trade,” Cramer said on “Squawk on the Street.” “We are not trading in the market. We are investing in companies,” he stressed, adding that it was impossible to predict what would happen next in the dispute, which began on February 28. Following the failure of peace talks over the weekend, Vice President J.D. Vance said it was up to Iran to decide whether further talks would take place. He emphasized that the United States must abide by the “red line that must not be crossed” against Iran’s nuclear program. Tuesday marks the second day the United States has blocked the Strait of Hormuz, a key oil transit corridor, as the United States pressures Iran to relinquish control. Last week, the United States announced a two-week ceasefire with Iran. A White House official told CNBC that discussions are underway about whether to hold a second round of peace talks. Kramer said this fragile ceasefire shows why it’s important to focus on a company’s underlying fundamentals rather than war speculation. “I want to own the company before the bottom line.”
