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Stock futures fell slightly after a major comeback week for stocks RBC top analyst sees comeback

CNBC’s Jim Cramer breaks down why the skyrocketing oil price made Wall Street worried about a recession, pointing to a fall in oil stocks even as crude hit record lows on Wednesday.

“As long as oil prices keep climbing, it’s hard to make the case for a soft landing. Oil is a nightmare for the Fed. It reverberates throughout the economy, and there seems to be no stopping it,” “mad Moneysaid the host. “Every time crude goes up, so is the possibility of a recession,” he said.

oil prices reached 13-week high on Wednesday. While the name of energy in the S&P 500 posted modest gains, only a handful of stocks were positive.

“I don’t believe in the stagflation thesis,” Cramer said, when the economy goes through a recession while inflation and unemployment run high. “Ideally, we can steer our way from energy inflation with more supplies from US producers”.

Cramer said that if prices continue to climb, it could lead to a slump in demand, which in turn could lead to a recession as consumers pull back from spending overall — which means a lot more for the economy and policymakers. Trouble for

He said, “Even if we don’t get a lot of supply, the price of oil will eventually come down from the destruction of demand. But if it does, we will be in for a miserable, long, hot summer.” Might be for summer.”

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