The Nasdaq is up Wednesday morning as bond yields rise and ahead of President Biden unveiling his infrastructure plan later in the day.
In the last episode of Mad Money, Jim Cramer said there's too much speculation and greed in this market. Investors need to stick to quality names like rule number 8 of his 25 investing rules and wait it out.
TheStreet's Katherine Ross and Cramer are talking about how to trade McCormick after earnings, markets this week and reopening the economy.
McCormick: Buy Or Sell?
Shares of McCormick (MKC) - Get Report jumped on Tuesday after the spice and condiment maker posted better-than-expected fiscal-first-quarter earnings, as the pandemic continues to see more consumers cooking at home.
The company also raised its full-year guidance for fiscal 2021.
Cramer said to keep a watch on McCormick's stock because it might tell us how much people believe in the reopening thesis. "And the reopening thesis is McCormick goes down not up."
Markets This Week
Cramer said infrastructure, cost of freight and anything involving housing are front and center for the markets right now.
President Biden is scheduled to release his infrastructure plan and Cramer recently shared his favorite infrastructure plays in the market.
Reopening the Economy
Cramer said we are at a crossroads where we have a lot of high multiple sales stocks getting blasted like Robinhood, so he is circumspect of a high price to sales stocks and liked stocks that are low price to earnings.
Cramer shared reopening stocks that he believes will perform well this past Monday including names like Nucor.