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Cramer: Disney is the stock to watch

CNBC's Jim Cramer said Thursday that investors should watch Disney shares for clues as to where this market is going, especially after the company was downgraded.

"I read through that downgrade multiple times. It reads horribly, except for the fact that [the analyst] is not negative on the earnings," Cramer said on "Squawk on the Street."

"This is really what's wrong with the market. We want to pay...


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