The Dow, the S&P 500, and the Nasdaq all ended Monday up after tech stocks were leading the charge. Stocks are rising today with the news of additional stimulus support.
On Mad Money, Jim Cramer warned that we’re seeing binary action in the market, with investors betting impetuously, based on the latest news.
TheStreet’s Katherine Ross spoke with Cramer Monday on Street Lightning about the obstacle facing vaccines and masks, Chevron buying Noble Energy and the bank stocks to buy.
Masks and Vaccines Share Common Enemy
People. The biggest issue facing masks is the refusal by some Americans to wear one in public despite the recommendations from the Mayo Clinic, CDC, and U.S. universities. A WHO-backed study reported that wearing masks could reduce the spread by 85%. Cramer has also gotten in the game to help U.S. citizens buy-in to wear masks in public by partnering with Marc Benioff for a competition to make an innovative mask with XPRIZE.
Cramer suspects that vaccines will face the same obstacles masks are facing now. The anti-vaccination movement was already strong in the U.S. but will other Americans listen to misinformation or not feel like getting the vaccine.
Chevron Stock: Buy or Sell?
Chevron (CVX) – Get Report announced Monday that it is buying Noble Energy for $5 billion in stock in what is the biggest energy tie-up since the coronavirus pandemic took hold. Noble Energy is trading around $10 and was up slightly since the deal was announced on Monday morning.
Cramer likes the deal for Chevron and explains what he likes about Chevron purchasing Noble Energy.
Bank Stocks to Buy
Last week, all of the banks reported their earnings, and investment banks showed why their business is much better built for the coronavirus pandemic than commercial banks. Wells Fargo did not have a good quarter and reported losses in the billions due to the struggles companies have faced this year.
If you’re looking to invest in investment banks, Cramer gives you two names you should be investing in, Morgan Stanley (MS) – Get Report and Goldman Sachs (GS) – Get Report.
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