Happy Monday.
Global deaths from COVID-19 have nearly hit 1.54 million, according to Johns Hopkins. Worldwide cases have risen to 67.1 million. In the U.S., there are 14.7 million cases with over 282,000 deaths.
The United Kingdom is preparing to roll out doses of the Pfizer and BioNTech vaccine starting Tuesday. The U.K. is the first country to distribute this vaccine, which is seeking an emergency use authorization with the Food and Drug Administration. The FDA will convene on Thursday to decide whether or not it will grant an EUA to Pfizer.
Despite entering what Dr. Deborah Birx has called “the worst event that this country will face,” Cramer said he and his Action Alerts PLUS charitable portfolio were looking for buying opportunities “left and right” in the markets Monday during his daily live show with TheStreet.
Cramer said that though that path to recovery will be far from a straight line, Wall Street is seeing a light at the end of the tunnel. “We’re headed toward a period where we’re going to beat this,” Cramer said.
“We feel strongly that it’s time to put some money to work on things that have come down,” Cramer said.
In the video below, Jim Cramer talks stimulus, the latest on the pandemic, Airbnb, AT&T (T) – Get Report, Exxon (XOM) – Get Report and more:
And, also in COVID-19 news, Rudy Giuliani–President Trump’s personal attorney–was diagnosed with COVID-19 over the weekend.
The U.S. is reportedly preparing to sanction around a dozen more Chinese officials following Beijing’s crackdown on the dissent in Hong Kong.
Reuters reported the sanctions could be imposed on Chinese officials for their alleged role in Beijing’s disqualification of elected opposition legislators in Hong Kong.
When asked if the market will weigh in the news negatively like it would have prior to the pandemic, Cramer said China stocks have continued to move higher, signaling that markets are acknowledging that the Trump administration and its harsher trade rhetoric are on the way out.
Airbnb is looking to boost its IPO price ahead of its trading debut on Thursday. The price range will now be $56 5o $60, which is higher than the $44 to $50 range that had previously been expected, according to a report from The Wall Street Journal.
Responding to the price hike, Cramer said,” The new guard [Robinhood investors] love Airbnb. They’re going to lap it up.”
Daniel Kuhn contributed reporting to this article.