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There are quite a few headlines that led the market on Wednesday, November 18, as the Dow Jones traded 81.35 points, the Nasdaq traded 24.43 points and the S&P 500 traded 7.75 points to 12 h ET.
“It’s a market that wants technology to drop again. It’s a market that wants manufacturers and cyclists to increase. It’s a market that tries to choose stronger retailers than not, ”Jim Cramer said in his daily live interview with The street.
As markets seek direction, Wall Street also weighs in a big economic impact as the Dec. 26 deadline for Cares Act unemployment assistance draws near.
“We see the bare and cowardly level of policy in Washington that they don’t help those people who lose their jobs through no fault of their own,” Cramer said.
So how should investors approach a market stuck between holding home and returning to normal stocks?
Jim Cramer weighs on economy, coronavirus, Boeing (BA) – Get the report, Pfizer (PFE) – Get the report, Target (TGT) – Get the report, Lowe’s (LOW) – Get the report, and more in the video below:
Cramer said his charity portfolio ActionAlertsPLUS.com continues to maintain a dumbbell strategy, which has led the club to buy Boeing stock. “We bought a ton of Boeing lower. It was one of our best successes for AAP,” Cramer said.
The 737 MAX ban was lifted by the Federal Aviation Administration on Wednesday.
FAA administrator Steven Dickson said he was “100% confident” in the plane’s safety after canceling a 20-month-old order that allowed the plane to resume commercial flights. The 737 MAX came to a standstill in March 2019 following two crashes that killed 346 people. The accidents were ultimately linked to the jet’s navigation system.
Reuters reported that the FAA will detail the software upgrades and training changes the planner must make to resume commercial flights.
The FAA also said Boeing would not be allowed to approve the airworthiness of approximately 450 737 MAXs already built. The agency is therefore planning individual in-person inspections that could take a year or more, extending the delivery of the jets, Reuters noted.
In early trading Wednesday, Boeing stock rose more than 2% to $ 215.81.
And then there is Pfizer.
Pfizer’s vaccine candidate exceeded the efficacy rate of Moderna’s candidate.
Pfizer and its German partner, BioNTech (BNTX) – Get the report, said the efficacy rate of the vaccine, known as BNT162b2, was consistent across all ages and races and was based on a total case cohort of 170. Interim results released last week indicated an efficacy rate of 90% for a cohort of approximately 94 patients.
The Pfizer news was associated with an announcement that the FDA has approved a home coronavirus test of Lucira, available by prescription. “I think it’s a possible windfall; that, along with Pfizer and Moderna, could end this thing,” Cramer said.
Daniel Kuhn contributed to the writing of this article.
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