The Nasdaq stock market rose on Wednesday as technology stocks rebounded after being renamed more cyclical stocks by investors earlier this week, which will benefit from the economic recovery following the breakthrough of the coronavirus vaccine.
The Dow Jones Industrial Average rose 82 points, or 0.28%, to 29,502, the S&P 500 index rose 0.8%, and the Nasdaq index rose 1.61%, because the pressure on the technology industry has eased.
Katherine Ross of TheStreet discussed major news in the stock market. Kramer talked about the sale of Pfizer’s CEO Albert Boula’s stock, ServiceNow and what the White House transition of power means to the market.
Pfizer: Buy or sell?
Pfizer (Teflon)-Get report They said on Wednesday that they have reached an agreement to provide 200 million doses of Covid-19 vaccine candidates to the EU, which is the largest order for a potential vaccine to date.
At the same time, according to reports, its chief executive Albert Bourla sold his 62% stake in Pfizer on Monday as part of a scheduled plan passed on August 19 to comply with insider trading laws. .
Kramer said it would be unwise to include such a plan. “This is a safe harbor. Rule 10b5-1 certainly allows this. He will not be prosecuted for his actions, but this is the second best option. Have one of the plans.”
ServiceNow: Buy or sell?
Workflow software company ServiceNow (just now)-Get report Exceeded Wall Street’s profit forecast for the third quarter. The company reported earnings per share of US$1.21, higher than the 99 cents per share a year ago and exceeding Zacks’ forecast of US$1.03. Revenue increased by 31% to 1.09 billion US dollars, exceeding market expectations of 1.06 billion US dollars.
Kramer said it’s time to take a stand on the high-value stocks represented by companies like ServiceNow. “It’s time to buy stocks. Even with 5,000 stocks, it is still 24 points ahead this morning.”
Power transfer
President Donald Trump’s campaign in Michigan filed a lawsuit on Wednesday as part of its legal strategy to subvert Biden’s November 3 election victory. Trump refused to recognize the confusion caused by the election of Biden and filed lawsuits in key states.
Kramer said that we really need to worry that the president is so stubborn that he will not be expelled from the White House. “He may be confused with the Electoral College. The Attorney General may say that this is a systemic problem in some states, and he will vote and postpone the appointment of the Electoral College. At some point, the president can say that I am willing to admit bye. Den will take over as president, but I hope I can truly win people’s forever knowing. So far, he has completely put Barr and the Senate on his side. But the way to defend the people’s will is not easy.”
These are not the key elements of Jim Cramer’s “Action News” plus charitable trusts. Do you want to be alerted before Jim Cramer buys or sells stocks? Learn more from Cramer and its member team now.
.
#Jim #Cramer #stock #market #today #Buy #Service
More from Source