Stocks are soaring in the Nasdaq Tuesday while the Dow and S&P 500 are also rising after an overnight pullback in U.S. Treasury yields. Tech stocks are looking at their best opening in nearly two weeks Tuesday as beat-down blue chips such as Apple (AAPL) - Get Report and Tesla (TSLA) - Get Report post solid pre-market rebounds.
TheStreet's Katherine Ross and Jeff Marks discussed breaking news in the stock market. Marks spoke about the GE and AerCap deal, stimulus checks and markets on Monday.
General Electric: Buy Or Sell?
Shares of General Electric (GE) - Get Report rose Monday after it was reported that the industrial giant was close to an agreement to combine its jet-leasing business with Ireland’s AerCap (AER) - Get Report in a deal valued at more than $30 billion.
Marks said CEO Larry Culp has done a fantastic job of turning around the business, navigating the company through the pandemic and this move is just another way for Culp to really transition the company away from GE Capital, which has been such a headwind."The market likes this deal and I don't see any reason why they shouldn't."
Last week, Senate Democrats pushed through a vote approving a $1.9 trillion economic recovery plan over rabid Republican opposition, sending the measure back to the House for final approval before President Joe Biden signs it.
The stimulus bill includes $1,400 checks to American households and $300 in enhanced unemployment benefits.
Marks said investors should weigh in on risk tolerance, goals and objectives before investing the stimulus checks into the stock market. "If it's a younger investor, you could have a riskier appetite. Look for high growth names that have fallen back in the recent correction in tech. And invest in companies that you know about."
Marks said he was watching for interest rates and treasury yields in the markets on Monday. "David Tepper's comments about how he has gone more bullish on the markets, right here, because he thinks interest rates in the U.S. could stabilize based on Japan switching from net seller to net buyer. I think that greatly improved some of the sentiment we saw earlier. His comments are important coupled with progress on the stimulus front, the reopening front indicates signs of improvement."
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