In this market, the slightest bit of good news can propel a stock higher for days, Jim Cramer told his Mad Money viewers Tuesday. And after 40 years on Wall Street, Cramer said he’s never seen a market that moves as slowly as this one.
It seems like every day we discover, or re-discover, stocks that are doing better now that vaccinations are on the rise and COVID-19 might finally be on the run. But with investors continuing to take a cautious approach, some of these revelations are playing out over multiple days. Some stocks are even moving on no news at all.
Monday night, Cramer spoke with Norwegian Cruise Line Holdings (NCLH) – Get Report CEO Frank Del Rio about that company’s ongoing battle with the CDC on when cruise lines might be allowed to reopen. Tuesday, despite the fact NCL and other cruise operators are still not able to sail, shares rallied. Shares of Norwegian are up 14% this week alone, despite having not sailed from a U.S. port in almost 18 months. The stock rose 4.61% in regular trade to close at $31.08, and were up another 2.4% in the after-hours session.
Everyone knows the restaurants will do better once the economy reopens, but Tuesday Yum Brands (YUM) – Get Report rallied 3.1% on an analyst upgrade from “sell” to “hold.” Shares of Chipotle Mexican Grill (CMG) – Get Report also tacked on another 2.4%.
All of these stocks are slowly boosting the markets higher, Cramer concluded, as investor confidence builds along with our vaccination tallies.
On Wall Street Tuesday, the indexes edged down, a day after equities rallied to all-time highs on optimism about an economic rebound in the U.S.
The Dow Jones Industrial Average finished down 97 points, or 0.29%, to 33,430. The S&P 500, which reached an intraday record earlier in the session, edged down 0.1% and the tech-heavy Nasdaq ticked down 0.05%.
The Dow and the S&P 500 closed at records on Monday after U.S. employers added the most workers to payrolls in seven months and other data offered evidence that the economy was improving.
Cramer and the AAP team are looking at everything from earnings and politics to the Federal Reserve. Find out what they’re telling their investment club members and get in on the conversation with a free trial subscription to Action Alerts Plus.
Executive Decision: Honeywell International
In his first “Executive Decision” segment, Cramer spoke with John Waldron, president and CEO of Honeywell International’s (HON) – Get Report Safety and Productivity Solutions division, along with musician and tech entrepreneur, will.i.am, to discuss the collaboration that led to Xupermask, a new face covering that features both ventilation and filtration with dual replaceable H12…
Read More: www.thestreet.com