Me jimcramer. You have a pessimist you have the camp that believes the latest covid outbreak is no big deal because the mortality rate is lower and then the super pessimist that say spiking cases mean no sports, no going out and millions of job losses these four camps, i have to tell you, they are going to they are at war every single day. Including this one, the dow gained 557 points, s p advanced 1. 34 and nasdaq inched up 4. 9 one can win because there is so much money going into stocks the recovery plays dont go up as Fund Managers need to sell one group to swap into another and thats why the dow stocks did much better than the s p that did better than the one scorching nasdaq this is highly unusual but it makes sense if you think out market in terms of competing camps. So who is winning . Or who won today i like to use the sore thumb index as in which stocks stuck out like a sore thumb today . Let me give you todays examples first tell is mccormick. The big spice maker roared to a
So call me or tweet m me jimcramer. With christmas and hanukkah right around the corner, how about we do this, dow closed down s p closed up. These are a little bit odd ball and some of them frankly sappy but i mean it, i want you to have these presents, too first, i wanted another yearly average higher so that the people who own stocks make money. Now i know that sounds simplistic, but given the longterm track record of the market and the pitiful returns youre really getting from bonds and the fact that so many people seem to not even want to be in stocks anymore, i think investing is important some candidates dont seem to think the stock market isnt that important they think what matters is putting food on the table. I get where theyre coming from. I think theyre making a mistake. First of all, theyre not mutually exclusive if you can afford to invest in the stock market, you should do it because the stock market is the greatest engine of Wealth Creation we should be making it easier
Looking up for the economy and then suddenly we got negative data points that changed everything and made the recession a plot more likely sure, that may be the profrnl mat cause of todays decline, losing another 494 points, s p 500 plunges 1. 79 . Nasdaq plummeting 1. 76 . Sell, sell, sell, sell but the truth is a lot simpler. We were due for a selloff. How i do know . Because thats what ive been telling you for weeks. A month ago i told you about the s p 500s short range oscillator indicator. This is a tool i pay a lot of money for that tells you almost with uncanny accuracy when the market is overbought or oversold, overbought meaning due for a pull back, oversold means you have to start buying when the oscillator is above five, it always almost means we came too far too fast. And you need to do some selling. Well, when its well above 5, you need to aggressively raise cash as i told you last month the oscillator went extremely high reading, told you we were due for a bruising i stwu
In the markets, we are seeing equities a little bit softer across the board. S p features down by about 0. 2 . Tech leading the declines lower in europe. Dollar seeing a stronger ish. Been about the reversal of the trends. Will that continue, or is today just a pause in this new shift in paradigm, as you have yields up by about one basis point . Time now for global exchange, where we bring you todays market moving news from all around the world. Soining us now is bloomberg and the karen bloombergs enda curran and michael mckee. An joins us from hong kong. Removed theave quota you need on stocks and bonds to buy in china. It is not necessarily going to be an immediate game changer. This is all about the narrative around china gradually opening up and trying to get the yuan used more globally. At the same time, it is an example of how china is incrementally littering on some of its pledges. Global message to the Financial Markets them china is open for business, and this would certainly
Court because some guy got stiffed over a sandwich. Its a relationshal story and i happening on this friday, august 30th as Worldwide Exchange, a free range show, begins right now. Stock futures are higher well show that to you in a second but look at this, if youre keeping score at home, these are your three topper forming sectors for the month of august. Its the final trading day after all. These are also the only three set to end the month in the green unless we get a super rally today which hey, we could. Dow futures are upright now. Utilities, real estate and Consumer Staples the worst performers, every month. Its energy. Energy again not a good run this week but it had a terrible run at the beginning of the month and Energy Financials and materials look like they will end the month lower although, i guess we get 3. 5 point run but probably not. As we get ready for the final day of august, trading day of august, lets see if this mini rally that were in can hold all major indexes t