As the 2nd quarter starts, CNBC host Jim Cramer has cautioned against buying tech and healthcare stocks.What Happened: Cramer said he is bullish on industrial and bank stocks and recommended investors to focus on the boom-and-bust cyclical stocks amid a booming economy.”As the 2nd quarter gets rolling, I think this market will end up being even kinder to the industrials and … the banks and even less hospitable to tech and health care,” Cramer stated on CNBCs “Mad Money” show.Cramer touted steel items provider Cleveland-Cliffs Inc. (NYSE: CLF) as a likely winner in the 2nd quarter.According to Cramer, the business is setting up numbers that are bring in money from huge fund financiers who are shifting far from tech stocks such as Amazon.com Inc. (NASDAQ: AMZN), Apple Inc. (NASDAQ: AAPL), Zscaler Inc. (NASDAQ: ZS) and ServiceNow Inc. (NYSE: NOW). The shares of all the four tech companies are down in a variety of 5% to 14% for the year-to-date period.Cleveland-Cliffs stock jumped practically 17% in Wednesdays trading session after the company supplied updated financial guidance for the 2nd and first quarters as well as for financial 2021. The business will reveal its first-quarter earnings outcomes on April 22. Money managers have an interest in business that can deliver the biggest advantage surprises and are not bothered about the most interesting long-lasting growth stories, according to Cramer. He likewise noted that greater inflation as the economy gets momentum could be devastating for stocks of business that might represent future growth.See Also: Return On Capital Employed Overview: Cleveland-CliffsWhy It Matters: U.S. stocks closed mostly greater on Wednesday, the last day of the first quarter. The S&P 500 added 0.4% and the tech-heavy Nasdaq Composite increased 1.5%, while the Dow Jones Industrial Average declined 0.3%. Cramer called the Nasdaq Composites advance a “countertrend rally.”While tech stocks gained strongly in 2015 amid the pandemic, financiers are now moving focus to healing and cyclical stocks amid increased optimism about government spending and Covid vaccinations. © 2020 Benzinga.com. Benzinga does not provide financial investment suggestions. All rights reserved.

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