Stocks rose sharply Wednesday after President Donald Trump said he would consider alternative aid measures such as a new round of stimulus checks, support for airlines and the Paycheck Protection Program, a day after halting stimulus talks until after the presidential election.
TheStreet’s Katherine Ross discussed breaking news in the stock market on Street Lightning. Cramer spoke about his expectations from the vice presidential debate tonight, Boeing stock and challenges for General Electric.
The debate between Vice President Mike Pence and the Democratic candidate, Sen. Kamala Harris of California, is scheduled for Wednesday night in Salt Lake City.
Pence agreed to install plexiglass dividers for the debate with Harris after many members of President Donald Trump’s debate prep team tested positive for Covid-19 following the first presidential debate in Cleveland, Ohio.
Cramer said if we get a steady hand from Pence then Harris would be blunted. “However, if she can get him off his game then no. He’s very firm on certain issues and I don’t think Kamala will be able to throw him off his game. But I want to see if she can make him sweat.”
Boeing: Buy Or Sell?
On Tuesday, Boeing slashed its aircraft demand forecast by 11% for the next decade. Boeing’s outlook said that plane-makers will deliver 18,350 commercial airplanes in the next decade – 11% lower than the comparable 2019 forecast – valued at about $2.9 trillion.
Cramer really likes the Boeing stock right now. “It’s a good opportunity to buy shares of Boeing. Referring to a difficult political environment in the U.S.and the lack of agreement on stimulus for airlines, Cramer said, “The worst case isn’t Boeing right now, right here.”
General Electric: Buy Or Sell?
On Tuesday, General Electric received a so-called Wells Notice from the Securities and Exchange Commission that indicates authorities are looking into how the industrial group accounted for the run-off of some of its legacy insurance businesses that sat inside its GE Capital division.
Cramer said its just history. “I think it has much more to do with things that happened before Larry Culp came in and that’s why the stock is bouncing back. But I’m not willing to go down the food chain and buy GE, their healthcare stuff is not COVID-19 oriented so they have a lot of challenged areas.”
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This article was originally published by TheStreet.