The stocks in the Dow, Nasdaq and S&P 500 are down in trading on Thursday as the Federal Reserve pointed to risks to recovery.
In the last episode of Mad Money, Jim Cramer said we have a booming goods economy amid a desperate services recession and folks need to understand what big institutional investors are thinking.
TheStreet's Katherine Ross and Cramer are on Street Lightning talking about Apple's Fitness+ competing with Peloton, FTC's potential antitrust charges against Facebook, and Adobe reporting earnings.
Peloton Stock: Buy or Sell?
Peloton (PTON) - Get Report beat earnings estimates and tripled its paid digital subscriptions when it reported its quarterly financials last Thursday. Despite shares of Peloton initially rising, shares of the exercise technology company has been mixed in trading since its report. Apple (AAPL) - Get Report had its launch event on Tuesday and announced its services bundle 'Apple One' that includes a potential competitor to Peloton, Fitness+.
Cramer doesn't believe Apple will be much of a competitor to Peloton's ecosystem.
Facebook Stock: Buy or Sell?
Facebook (FB) - Get Report announced on Wednesday that it will sell 'Smart Glasses' starting in 2021. Unfortunately, there was bad news this week when a report came out that the FTC plans to file antitrust charges by the end of the year. More negative headlines followed Facebook when celebrities including Kim Kardashian West announced that she plans to boycott Facebook and Instagram in a protest against its mishandling of misinformation on its platforms.
Cramer doesn't understand what the FTC is trying to prove and doesn't see much in the negative headlines involving Facebook.
Adobe Stock: Buy or Sell?
Adobe (ADBE) - Get Report reported earnings on Tuesday and beat estimates on the strength of its digital media products. TheStreet looked at the charts and gave investors a guide on how to trade shares of Adobe when it reported its quarterly financials. Despite the positive results in its report, Adobe fell in trading on Wednesday and Cramer has an idea why it was falling.
Cramer believes investors were selling shares of Adobe to buy shares of Snowflake as it started trading.
Apple and Facebook are key holdings in Jim Cramer's Action Alerts PLUS charitable trust. Want to be alerted before Jim Cramer buys or sells any stock? Learn more from Cramer and his membership team now.