Jim Cramer says don't give up on this unpredictable market. Here's why

Impact · against what's priced in

The reported inflation data creates a headwind for financial and tech valuations by increasing the probability of further rate hikes. While Morgan Stanley's performance was stable, the market's negative reaction reinforces the existing assumption that revenue growth will sharply decelerate.

MS−0.30

Challenges what's priced in

The price assumes

the Federal Reserve will not aggressively hike rates further