CNBC’s Jim Cramer on Tuesday provided a list of four investable financial stocks that he believes will benefit from the Federal Reserve’s interest rate hike to control rising inflation.
“Growth at any cost went out of style at the Wall Street fashion show almost six months ago, as we saw again today. Now this market wants something very different. It wants GARP: growth at a reasonable price,” he said “Mad Money,” said the moderator.
“I think it’s a good time to pay some attention to underappreciated financial stocks with GARP appeal. … We don’t invest in hope, we invest in opportunity, and the opportunities to win with growth at a reasonable price have rarely looked so good,” he later added.
The S&P 500 fell 0.34% on Tuesday, while the Nasdaq Composite fell 0.30%. The Dow Jones Industrial Average was down 0.26%.
Cramer selected four financial stocks investors should consider buying from the same list he used Monday to select his six favorite travel and leisure stocks. He compiled the list by screening companies included in the S&P 500, and came up with companies that had reasonable valuations and earnings growth.
Here’s the list of four financial stocks that passed the test:
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