The market took off yesterday in a rally that saw the Dow Jones industrial average rally more than 600 points, but the Dow, Nasdaq and S&P 500 were all down in intraday trading Tuesday.
So what will Jim Cramer and Katherine Ross be paying attention to on March 2?
“We were up so much yesterday, this is what you want,” Cramer said. “This is a consolidating market.”
However, Cramer called the recent action on the Nasdaq “puzzling” as stocks such as Nvidia (NVDA) – Get report and apple (AAPL) – Get report keep selling for the wrong reasons in your opinion. “There is a great antipathy towards technological actions”, Cramer said.
Recap of Tuesday’s episode of TheStreet Live in the video below and be sure to catch Jim Cramer and Katherine Ross live every day of the week. at 10:30 am ET:
The apple of our eyes?
Apple (AAPL) – Get report It reopened its last closed U.S. locations in Texas on Monday, according to CNBC, which cited a company spokesperson.
However, not all Apple stores in the US are open to walk-ins, the report adds. Although, obviously, all customers can connect and access the Apple store 24 hours a day, 7 days a week.
Last year, Apple closed all of its physical stores outside of China starting in mid-March when the coronavirus pandemic took over the world. The company has reopened and re-closed stores in response to local COVID-19 conditions since then.
“Stores don’t really matter,” Cramer said, but added that he maintains his view that Apple is a stock to hold rather than negotiate.
Electric vehicles vs. Exxon
Jim Cramer took Real money write a column about the electric vehicle space and what all the hype about the industry tells us about Exxon (XOM) – Get report the board moves.
“Exxon’s board movements indicate that it knows its gasoline days are numbered,” Cramer said.
“That’s the challenge for the old paradigm and the joy of the new. This is the year I think ESG-oriented funds put pressure on oil companies by suggesting that they shouldn’t be owned by them. Oil has made a comeback. remarkable in 2021, that’s undeniable, but a lot of that is because the Saudis are restricting production and fear that President Biden is serious when it comes to climate change, which means supporting any electric vehicle rushing to market. ” , wrote.
When asked how long Exxon shares can continue to rise, Cramer said the momentum can continue as long as the price of oil continues to rise.
Kohl’s (KSS) – Get report posted adjusted earnings of $ 346 million, or $ 2.22 per share. The earnings included a taxable profit on earnings of $ 1.15 per share. Sales amounted to $ 6.14 billion compared to $ 6.83 billion a year ago.
“After an extraordinary year managing the pandemic, we ended the year in a very strong financial position and entered 2021 with strong momentum,” Executive Director Michelle Gass said in a statement.
Aim (TGT) – Get report reported adjusted earnings of $ 2.67 per share, which beat Street’s consensus forecast of $ 2.54 per share.
“After years of investment to build a long-lasting, scalable and sustainable business model, we saw record growth in 2020 as our guests turned to Target to safely support their families during the pandemic,” said CEO Brian Cornell . “With the strength of our unique multi-category assortment and the flexibility we offer through our convenient and reliable fulfillment options, we gained nearly $ 9 billion in market share in 2020 and increased our revenue by $ 15 billion, which it’s more than the previous 11 years combined. “
See: What Kohl’s, Target Earnings Tells Jim Cramer About Retail
What happened last night at Mad Money?
“Forget investing in the obvious economic reopening stocks, Jim Cramer told his Mad Money viewers on Monday. That ship sailed weeks ago, Cramer said, but there are a handful of stealth reopening stocks lurking in plain sight.” added. Streets Scott Rutt wrote in his Bad money abstract.
“Instead, Cramer said he is betting on stocks like payment processor Square, which today announced that the company is starting a bank to expand its offerings,” he continued.
Curious about what Jim Cramer and his Action Alerts PLUS team are seeing in the markets? Watch the Cramer member exclusive Daily Rundown show on Action Alerts MORE after TheStreet Live.
Daniel Kuhn contributed to the reporting of this article.