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June swoon? Cramer says it sounds about right
If the stock market is going to "swoon" in June, then the main culprit is the stronger U.S. dollar (Exchange: .DXY), CNBC's Jim Cramer said Friday.
"I continue to say that unless the dollar gets definitely weak, it's just going to be more of the same," he said. "This market does not feel good except for takeovers."
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The term swoon is used to describe an overall decline in the value of the stock market. Historically, Cramer said, the summer months tend to be a little weaker because of the technology sector taking off and a European slowdown.
But this year, many American multinationals are suffering from the stronger greenback. "I think manufacturing and the export side is very challenged because of the strong dollar," Cramer said.
He also said that this weakness in the economy could lead to the Fed 's reconsidering a rate hike sooner.
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