The Dow and the S&P 500 are rising today off the positive coronavirus vaccine news from Pfizer but the Nasdaq is down in part because of the rising tensions between the U.S. and China.
TheStreet’s Katherine Ross discussed breaking news in the stock market on Street Lightning with Jim Cramer. Cramer spoke about the Pfizer coronavirus vaccine news, Boeing planes being grounded and shares of Snap falling.
Pfizer Stock: Buy or Sell?
The U.S. placed a nearly $2 billion order for Pfizer’s coronavirus vaccine. Pfizer will supply at least 100 million doses of its experimental coronavirus vaccine to the U.S. government, once it’s approved, with the potential for 500 million additional doses that will be free-of-charge for American citizens. Pfizer is up 4% in trading Wednesday as stocks try to find some footing.
Cramer doesn’t advise buying shares of Pfizer off of the vaccine news though.
Boeing Stock: Buy or Sell?
It was reported Wednesday that Boeing’s 737 MAX planes will likely remain grounded in 2021. This news comes a week after Wolfe downgraded Boeing (BA) – Get Report on valuation concerns for the airplane manufacturer.
Cramer shares what we should expect for Boeing throughout the rest of 2020 as the holidays approach and families visit out of town relatives.
Snap Stock: Buy or Sell?
Snap stock (SNAP) – Get Report is down today after reporting financials with mixed results in the second quarter. The increase in active users fell short of expectations despite rising 17% from the same time period last year. TheStreet provided the key levels to watch when Snap reports earnings so investors can trade shares of Snap.
Cramer pointed to the lack of events for traditional advertisers to spend advertising on the Snapchat app.
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