Stocks in the Dow Jones, S&P 500, and the Nasdaq all finished down as President Trump's tweets created tension between the U.S. and China. Trump tweeted about the 'massive disinformation' campaign China is running in the U.S. and Europe about their role in spreading the coronavirus pandemic. On Mad Money, Jim Cramer said that stocks are down because the administration is getting tough on China again and the weakening economy is not to blame for today's slump.
TheStreet's Katherine Ross spoke with Cramer yesterday about Apple and Tesla competing in the tech sector, Expedia optimistic outlook on travel and why the jobless claims aren't having the impact on the stock market as many would think.
Are Apple and Tesla Competitors?
If you were offered 100 shares at the current prices of either Apple AAPL or Tesla TSLA and were forced to hold the shares you pick for 10 years without trading them before receiving the net profit, would you pick Apple or Tesla? This hypothetical question comes up because Morgan Stanley's Katy Huberty said tech investors believe Tesla is Apple 20 years ago and although many investors see them as potential partners, Huberty believes they are competitors. Could that be an accurate future for the two?
Cramer responds to Huberty's comments on the two giants in the stock market.
Is Expedia in Trouble After Lockdowns Ease?
Very few industries have been hit harder than the travel industry during the coronavirus pandemic. Full flights will be a thing in the past, for the time being, hotels will have that vacancy lit for a while, and traveling abroad might have to wait for countries to ease their borders to foreign tourists. Expedia EXPE reported earnings this week and said they are already seeing strength in bookings as Americans look to leave their homes following quarantine.
Could Expedia come back stronger than before coronavirus or is Expedia full of hot air? Cramer weighs in on Expedia and the travel industry in this market.
Jobless Claims Is Being Ignored
Jobless claims extended another 2.4 million this past week. The total jobless claims for the last nine weeks is almost 39 million and although the number is going down each week, what does this mean for the stock market. Will the total jobless claims impact the markets in the near term or will the stock market continue ticking higher?
Cramer explains what impact the jobless claims have on the market and what to expect moving forward.
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