Stocks soared on Thursday and Treasury yields were high after a report showed President-elect Joe Biden may unveil a Kovid-19 relief package worth nearly $ 2 trillion.
Catherine Ross of TheStreet discussed breaking news in the stock market. Temer talked about the recall of Tesla’s 158,000 vehicles, an increase in jobless claims, and Biden’s yet-to-be announced stimulus package.
Tesla: Buy or Sell?
National Highway Traffic Safety Administration has asked Tesla, an electric vehicle manufacturing company ()TSLA) – Get Report Media control unit failure to recall 158,000 of its battery-powered Model S sedans and Model X SUVs.
NHTSA wrote in a formal letter to Tesla that the vehicles are said to have “defects related to motor vehicle safety”.
Cramer said the recall would not affect investor confidence in Tesla. “Tesla is a tech company and sometimes you have to miss a few things, their cars have a lot of technology. This is not going to cause further sales reduction and that’s what matters.”
Unemployed claims arise
Unemployment claims reached close to 1 million last week, supporting their highest level since last August, as the coronovirus epidemic continued to force companies to shed labor.
Cramer said that the numbers are a sign of how badly we need stimulation. “I think it should be a targeted stimulus. It should go to 960,000 people and not just everyone who moves again has a job, and the little ones who go right for Robinhood and they buy stocks . We are in a situation where it is very important that the right people get money and that means it has to be given to those who do not have it. “
President-Elect Joe Biden may unveil a $ 2 trillion spending plan on Thursday that includes a direct check payment of $ 2,000 in an effort to revive the COVID-hit economy.
Cramer said the stimulus package would be great for the markets and would not be great for those who are hurting. “They need to get all the money given to the needy people. If D. [government] Forgive student loans this will definitely lead to some kind of rally. There are two economies – the invested share economy and the real economy. The former is being fueled as before. “
None of these Key Holdings in Jim Cramer Action Alert Plus Charitable Trust. Jim Cramer Want to be cautious before buying or selling any stock? Learn more from Cramer and his membership team right now.