The market took off yesterday in a recovery that saw the Dow Jones Industrial average rise more than 600 points, but the Dow, Nasdaq and S&P 500 all pointed down in Tuesday’s intraday trading.
So what are Jim Cramer and Katherine Ross paying attention to on March 2?
“We were wide awake yesterday, that’s more or less what you want,” said Cramer. “This is a market in consolidation.”
However, Cramer called the recent Nasdaq lawsuit “disconcerting” as Nvidia’s shares (NVDA) – Get report and apple (AAPL) – Get report continue to sell for the wrong reasons in your opinion. “There is a great antipathy towards the actions of cutting edge technology”, Cramer said.
Recap Tuesday’s episode of TheStreet Live in the video below and be sure to watch Jim Cramer and Katherine Ross live every day of the week at 10:30 ET:
The apple of our eye?
Apple (AAPL) – Get report reopened its last closed locations in the US in Texas on Monday, according to CNBC, which quoted a company spokesman.
However, not all Apple stores in the U.S. are open to incoming customers, the report added. Although all customers can obviously go online and access the Apple store 24 hours a day, 7 days a week.
Last year, Apple closed all of its physical stores outside China from mid-March, when the coronavirus pandemic hit the world. The company has since reopened and closed stores in response to local conditions at COVID-19.
“Stores don’t really matter,” said Cramer, but added that he maintains his view that Apple is a stock to keep, not to trade.
Electric vehicles vs. Exxon
Jim Cramer led to Real money write a column about electric vehicle space and what all the industry hype tells us about Exxon (XOM) – Get report plate movements.
“Exxon’s board moves indicate that it knows its gas days are numbered,” noted Cramer.
“This is the challenge for the old paradigm and the joy of the new. This is the year that I think ESG funds have put pressure on oil companies, suggesting that they should not be owned. Oil had a notable return in 2021, this it is undeniable, but a lot of it is the Saudis restricting production and fear that President Biden is serious when it comes to climate change, which means supporting anything that brings EV to market, “he wrote.
When asked how long Exxon’s stock could continue to rise, Cramer said the momentum could continue as long as the price of oil continued to rise.
Kohl earnings
Kohl’s (KSS) – Get report posted adjusted earnings of $ 346 million, or $ 2.22 per share. The gains included a tax benefit gain of $ 1.15 per share. Sales reached $ 6.14 billion against $ 6.83 billion a year ago.
“After an extraordinary year of managing the pandemic, we ended the year in a very solid financial position and entered 2021 with a strong boost,” said CEO Michelle Gass in a statement.
Target profit
Target (TGT) – Get report reported adjusted earnings that reached $ 2.67 per share, which exceeded the Street consensus forecast of $ 2.54 per share.
“After years of investment to build a durable, scalable and sustainable business model, we saw record growth in 2020, when our guests turned to Target to safely provide their families during the pandemic,” said CEO Brian Cornell. “With the strength of our unique range of multiple categories and the flexibility we offer through our reliable and convenient service options, we gained almost $ 9 billion in market share in 2020 and increased our revenue by $ 15 billion , which is more than the previous 11 years combined. “
Watch: What Kohl’s and desired earnings tell Jim Cramer about retail
What happened to Mad Money last night?
“Forget investing in obvious economic reopening stocks, Jim Cramer told his viewers Mad Money on Monday. That ship left weeks ago, Cramer said, but there are a handful of stealth reopening actions that are hidden from everyone.” The streets Scott Rutt wrote in his Crazy money recap.
“Instead, Cramer said he is betting on shares like the payment processor Square, which announced today that the company is opening a bank to expand its offerings,” he continued.
Curious to see what Jim Cramer and his Action Alerts PLUS team are watching in the markets? Watch the Daily Rundown program exclusive to Cramer members at Action Alerts PLUS after TheStreet Live.
Daniel Kuhn contributed to the reporting of this article.