The Dow, the S&P 500, and the Nasdaq finished Tuesday down after political parties in Washington D.C. debated the details of another stimulus bill to help Americans as evictions begin to rise across the U.S. as a result of the coronavirus pandemic. The Dow is the only index up in trading Wednesday morning after the opening bell.
On Mad Money Tuesday, Jim Cramer shared stocks that surprisingly climbed to new highs in this unpredictable market. Cramer has a list of 10 companies that are unexpectedly successful in this current climate.
TheStreet's Katherine Ross spoke with Cramer Monday on Street Lightning about the issues with 3M Company, Kodak gets government funding and August being when we could see the economic impact of the coronavirus pandemic.
3M Company Stock: Buy or Sell?
3M Company reported its financials on Tuesday morning and missed profit forecasts and kept its 2020 forecasts withdrawn. 3M was one of the top five stock losers on Tuesday as their poor quarterly report contributed to the Dow falling into the negative in trading.
Cramer believes there's something wrong with 3M Company and discusses what he saw in their quarterly report.
Eastman Kodak Stock: Buy or Sell?
Kodak (KODK) - Get Report secured government funding to produce a variety of generic drugs including hydroxychloroquine. This is the drug that President Trump shared misinformation about in recent days from a Houston doctor that also believes "sexual visitations by demons and alien DNA are at the root of Americans’ common health concerns." Eastman Kodak stock was down around 35% year-to-date before the news but the stock was up 200% yesterday after this funding was reported by the Wall Street Journal.
Cramer believes there is so much misinformation surrounding hydroxychloroquine after several tests found it not to be valuable that the funding must be for other drugs.
The Economic Impact of the Coronavirus Pandemic
One in five Americans are collecting unemployment benefits and we're not sure if this is the worst we're going to see as a result of the coronavirus pandemic. Forbes reported that more than 40% of U.S. renters are at risk of facing eviction.
Cramer believes the worst is yet to come for the economy. Cramer detailed in his Real Money column that he anticipates August could be where Americans feel the economic impact of the coronavirus pandemic.
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