CNBC’s Jim Kramer on Friday denied stock market declines over President Donald Trump’s positive test for coronavirus, suggesting investors may consider buying on pullbacks.
“I’m not saying this is too much to do,” Kramer said on Squawk. “I say people should have a buy list ready.”
Stock futures fell sharply on Friday morning on Stock Street, digesting the news that Trump and First Lady Melania Trump tested positive for the coronavirus. The president wrote in a tweet Early Friday morning, “We will immediately begin our quarantine and recovery process. We will meet with this!”
Hope Hicks, a White House adviser, also tested positive for coronavirus after Trump’s positive tests. Hicks had traveled on Air Force One to Cleveland with Trump for the first presidential discussion on Tuesday night.
The White House announced Friday morning that Vice President Mike Pence and another woman, Karen Pence, have tested negative for the virus.
Kramer wished Trump a speedy recovery and pressured the environment that “business is not normal.” But he added, “I think there will be a lot of stocks that will come down like Tesla in the beginning – by the way, we had a delivery that was better than expected – and then it could bounce back.”
“I think it could be like a Ford Motor, where I believe the numbers would get better, and I’d buy anything like this,” Mad Money said.
Kramer said he hopes the president’s coronavirus infection ensures more Americans wear masks to prevent the spread of the virus, which could benefit the U.S. economy.
Kramer noted that Trump wore masks mostly during the epidemic and earlier this week told his Democratic rival, Joe Biden, how often he wears masks.
Biden greeted Trump on Friday morning.
“Masks are the only hope we really have, especially indoors,” Kramer said. “Maybe the idea that you’re somehow ‘not tough’ [if you] Wear the mask goes away. “
Kramer added, “If you try to open up economically, without a mask, without more discipline about social distance, it will fail.” “I think the fact that President Kovid was infected is really the final decision.”
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