Stock Market Cafe
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
No Result
View All Result
Stock Market Cafe
No Result
View All Result
Home Trading News

Cramer reluctant to buy market bounce, says ‘silly sellers’ could hit stocks again soon

by
November 29, 2021
in Trading News
0
0
SHARES
1
VIEWS
Share on FacebookShare on Twitter

CNBC’s Jim Cramer said he doesn’t feel comfortable buying into Monday’s early stock market bounce, following Friday’s omicron-driven plunge, because the selling could resume in the event of future negative news about the highly mutated Covid variant.

The Dow Jones Industrial Average — which had been up nearly 400 points, or more than 1%, shortly after Wall Street’s open — gave up some of those gains. However, the S&P 500 and the Nasdaq were hanging on to most of their early session gains, advancing roughly 1% and nearly 1.5%, respectively. All three stock benchmarks sank more than 2% on Friday and finished lower last week.

RELATED POSTS

‘With Risk Comes Opportunity’: Oppenheimer Suggests 2 Stocks to Buy, Including One With 170% Upside Potential

India is a true bright spot in the midst of a global downturn, top execs and policymakers say

Cramer said on “Squawk on the Street,” before Monday’s open, that he’s betting on science, including future reformulated Covid vaccines and promising new oral treatments, to mitigate the effects of omicron.

“I’m coming back as being sanguine. Not today. Because you get the market up and the same people buying today, if they see someone who landed” in the U.S. and has the omicron variant, “They’ll say, ‘I got to sell,'” the “Mad Money” host said. “We have to guard ourselves against silly sellers.”

No omicron cases have been found in the U.S. yet. But infections have been found in South Africa, where the variant was originally identified, as well as the U.K., Israel, Belgium, the Netherlands, Germany, Italy, Australia and Hong Kong.

Moderna CEO Stephane Bancel told CNBC he believes omicron is present in most nations. “I believe most countries that have direct flights from South Africa in the last seven to 10 days already have cases in their country that they may not be aware of.”

Bancel and Pfizer CEO Albert Bourla said in separate “Squawk Box” interviews Monday that their companies are working on omicron versions of their vaccines with the hope of getting them out next year.

Bourla said he expects Pfizer’s Covid treatment pill to be effective against the omicron variant. He added the company now expects to manufacture 80 million courses of the pill, an increase from its original manufacturing goal of 50 million courses.

Merck is also working on a Covid pill.

“You listen to Bourla and Bancel … and you come back and say, ‘Look, these guys are the people you have to bank on.’ They know the science,” Cramer said. “What that may mean is that these people solve it” and then if investors sold, “you have to buy back much higher.”

ShareTweetPin

Related Posts

‘With Risk Comes Opportunity’: Oppenheimer Suggests 2 Stocks to Buy, Including One With 170% Upside Potential

by
January 27, 2023
0

S&P Futures 4,063.50 -12.00(-0.29%)   Dow Futures 33,995.00 -28.00(-0.08%)   Nasdaq Futures 12,038.25 -68.50(-0.57%)   Russell 2000 Futures 1,905.90 -4.60(-0.24%)...

India is a true bright spot in the midst of a global downturn, top execs and policymakers say

by
January 27, 2023
0

With 2023's World Economic Forum in Davos dominated by discussions of economic growth, or a lack of in most developed...

Buy the dip? Top Morningstar strategist names 3 stocks trading at a steep discount

by
January 27, 2023
0

This year is shaping up to be a "tale of two halves," according to Dave Sekera, chief U.S. market strategist...

Here’s where mainland Chinese traveled overseas for the Lunar New Year

by
January 27, 2023
0

BEIJING -- Travelers from mainland China stuck close to home in Asia during the Lunar New Year, the first holiday...

Morgan Stanley has a ‘simple’ tech playbook, names TSMC and others as stocks to buy right now

by
January 27, 2023
0

Tech stocks have staged a remarkable comeback this year, as investors flock to the sector once more. The tech-heavy Nasdaq...

Next Post

Black Knight: Number of Mortgages in Forbearance Increased Slightly

Hedge-fund investor who made $2.6 billion on pandemic trades says omicron could be bullish for stock market

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

email

Get the daily email about stock.

Please Enter Your Email Address:

By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

MOST VIEWED

  • Crocs sees fourth-quarter sales up 42%, CEO Andrew Rees says 2021 was ‘exceptional year’

    0 shares
    Share 0 Tweet 0
  • Biden didn’t accept Putin’s ‘red lines’ on Ukraine – here’s what that means

    0 shares
    Share 0 Tweet 0
  • Buying a car from the factory sounds expensive, but it can actually save you money. Here’s how to do it.

    0 shares
    Share 0 Tweet 0
  • The states that won’t tax military retirement in 2022

    0 shares
    Share 0 Tweet 0
  • Roth TSP vs. Roth IRA: How Do They Compare?

    0 shares
    Share 0 Tweet 0
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
All rights reserved by www.stockmarket-cafe.com
No Result
View All Result
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy

All rights reserved by www.stockmarket-cafe.com