Dow futures gain on President Donald Trump’s new stance on stimulus. Stocks finished sharply higher Wednesday after Trump said he would consider alternative aid measures such as a new round of stimulus checks, support for airlines, and the Paycheck Protection Program.
In the last episode of Mad Money, Jim Cramer said that when the president tweets something that tanks the stock market, it’s a mistake to sell, because President Trump hates lower stock prices and almost always reverses himself.
TheStreet’s Katherine Ross and Cramer are on Street Lightning talking about buying Alphabet stock, alternatives to the stimulus package, and Trump’s tweets.
Alphabet Stock: Buy or Sell?
A House panel proposed to limit the power and influence of the tech giants including Amazon (AMZN) – Get Report, Facebook (FB) – Get Report, Apple (AAPL) – Get Report, and Alphabet Inc. (GOOGL) – Get Report, the parent company of Google. The recommendations from the House antitrust subcommittee could lead to the breakup of tech companies if approved by Congress.
On Tuesday, Google (GOOGL) – Get Report announced that the G Suite brand will be replaced by Google Workspace as the new name for its package of business tools. The rebranding comes in parallel with the Google features such as having a video chat display at the corner of a document-editing window.
Cramer doesn’t find this concerning, saying “I know that the market is punishing Alphabet and I think that’s crazy.” He advises investors to buy the Alphabet stock which would be “fantastic” if the company was broken up.