The Dow, S&P 500 and Nasdaq are active today after some mixed signals from the Trump administration were sent yesterday about the trade deal with China. Peter Navarro said the Chinese trade deal was essentially off the table, prompting Dow futures to drop yesterday. President Trump intervened yesterday to tweet that the deal is actually “completely intact,” raising stocks. Proceed with caution after these mixed signals and the increase in coronavirus cases in various states continue to grow.
TheStreet’s Katherine Ross spoke to Cramer about the latest news today on the StreetLightning stock market. Cramer discusses the purchase of Nvidia over Intel shares after Apple severed ties with Intel, Beyond Meat was burned by Impossible Foods and Starbucks, and the Nasdaq continued to climb higher.
Nvidia Stock: Buy or Sell?
Cramer and Action Alerts PLUS favorite with Nvidia has risen today as the stock market climbs higher after the flip flop of China’s trade deal. Last week TheStreet analyzed whether Nvidia’s shares could rise to new highs. Shares of Nvidia and Intel were downgraded by analysts at Morgan Stanley.
Cramer is always impressed by new developments with Nvidia and advises investors to buy it through Intel.
Beyond the meat stock: buy or sell?
Starbucks announced that it is adding Impossible Foods sausage to its breakfast menu with a breakfast sandwich at various locations in the US. USA This news is driving the Beyond Meat stock down and Cramer said this could drive the stock down even further after failing to add Beyond Meat products to Starbucks locations in the US. USA After securing the agreement for locations in China.
Cramer sees Beyond Meat shares go down after this news.
Nasdaq is higher again
The Nasdaq hit a record today as stocks in the index continue to rise for the eighth consecutive day. Cramer is a little concerned about how high the stock market is rising, especially with all of the troubling signs that appear during this rise that are ignored.
Cramer wants to see the Nasdaq end today, but it doesn’t appear to be on the charts after it hit new highs.
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