Index Option Calls
  • Home
  • Latest News
  • Email Whitelisting
  • Privacy Policy
  • Home
  • Latest News
  • Email Whitelisting
  • Privacy Policy
No Result
View All Result
Index Option Calls
No Result
View All Result
Home Latest News

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

by
November 29, 2021
in Latest News
0
0
SHARES
0
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

Apple CEO Tim Cook praises China’s innovation, long history of cooperation on Beijing visit

The market’s initial reaction to a Fed rate hike is ‘almost always a head fake,’ Jim Cramer says

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

Apple CEO Tim Cook praises China’s innovation, long history of cooperation on Beijing visit

by
March 25, 2023
0

The world's biggest iPhone factory, located in China and run by Foxconn, faced disruptions in 2022. That is likely to...

The market’s initial reaction to a Fed rate hike is ‘almost always a head fake,’ Jim Cramer says

by
March 25, 2023
0

CNBC's Jim Cramer said on Friday that this week was the latest example of the market gone crazy after a...

Biden says federal deposit insurance could be tapped further if banks fail

by
March 25, 2023
0

The Federal Deposit Insurance Corp. (FDIC) headquarters in Washington, DC, US, on Monday, March 13, 2023. Al Drago | Bloomberg...

Foundation of China’s economic recovery not solid enough, party official says

by
March 25, 2023
0

A general view shows the skyline over the Central Business District in Beijing on February 28, 2023. Jade Gao |...

Jack Dorsey’s Wealth Tumbles $526 Million After Hindenburg Short

by
March 25, 2023
0

S&P 500 3,970.99 +22.27(+0.56%)   Dow 30 32,237.53 +132.28(+0.41%)   Nasdaq 11,823.96 +36.56(+0.31%)   Russell 2000 1,734.92 +14.63(+0.85%)   Crude...

Next Post

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

Macau casino stocks lose almost US$5 billion in sell-off as China's gambling crackdown snares junket boss

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

  • A Couple Stored IRA Gold at Home. They Owe the IRS More Than $300,000.

    0 shares
    Share 0 Tweet 0
  • A California Couple Spent Eight Years Building Their Dream Retirement Home in Costa Rica

    0 shares
    Share 0 Tweet 0
  • Goldman Sachs says buy these stocks to play Web 3.0 and the metaverse

    0 shares
    Share 0 Tweet 0
  • Goldman Sachs picks new stocks to buy — and says these 5 have over 100% upside

    0 shares
    Share 0 Tweet 0
  • In his final warning, this stock trading wizard — who made big money in bear markets and crashes — called this market a bubble like no other

    0 shares
    Share 0 Tweet 0
  • Home
  • Latest News
  • Email Whitelisting
  • Privacy Policy
All rights reserved by www.indexoptioncalls.com
No Result
View All Result
  • Home
  • Latest News
  • Email Whitelisting
  • Privacy Policy

All rights reserved by www.indexoptioncalls.com