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It’s almost Turkey Day!
Stocks were mostly weaker in intraday trading on Wednesday – the day before Thanksgiving – and a day after the Dow Jones Industrial Average and S&P 500 closed at record highs, and following weekly jobless claims that have increased in consecutive weeks for the first time since summer.
Stocks finished higher on Tuesday and the Dow Jones closed above 30,000 for the first time as President-elect Joe Biden was given the green light to officially begin his transition and Wall Street bet on more stimulus. fiscal, as reported by former Federal Reserve Chairman Janet Yellen nominated for the post of Treasury Secretary (and the first woman to hold that role).
The number of Americans claiming unemployment benefits for the first time rose to 778,000 in the week ended Nov. 21, from 748,000 revised the previous week and ahead of economists’ forecast of 730,000.
Jim Cramer discussed his plans for Thanksgiving (there’s drama about a pot of green beans …) and what he’s grateful for this holiday season. Surprise! They are young investors.
“I’m grateful for the young people who join us and buy individual stocks and look after and do their homework … I’m very grateful that they discovered the stock market,” Cramer said in his interview. daily live with The street Tuesday.
Cramer joked that the renewed interest in individual stocks, rather than index funds, keeps him on the air.
Cramer also explained why he thought Yellen and Federal Reserve Chairman Jerome Powell would be a financial power duo, saying he was very impressed with Yellen’s announced choice.
Watch Cramer’s take on all of the above and more in the video below:
Daniel Kuhn contributed to the writing of this article.
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