Dow futures slip lower from all-time highs as investors look for stimulus progress in the U.S. and the final hours of Brexit trade talks in Brussels.
In the last episode of Mad Money, Jim Cramer said that on Monday investors will be hoping to have some sort of traction in Washington regarding a stimulus bill. At this point, even a smaller deal would be good for the economy, but without one, investors may grow worried, he cautioned.
TheStreet's Katherine Ross and Cramer are talking about Pfizer vaccine rollout, retail jobs, and investing in the EV sector.
Pfizer Stock: Buy or Sell?
Pfizer Inc. (PFE) - Get Pfizer Inc. Report shares edged higher Friday as the drugmaker attempted to push back on headlines that suggested it had made major changes to its vaccine production forecasts.
The Wall Street Journal reported Thursday that Pfizer had cut its original estimate of delivering 100 million doses of its coronavirus vaccine, known as BNT162b2, in half, citing issues in gathering raw materials and scaling-up production with its German partner BioNTech (BNTX) - Get BioNTech SE Report.
Cramer said that there was an incorrect transmission of news that Pfizer is will roll out millions of doses in the UK which would make people think that they are giving more millions than they were saying.
"It is difficult to assess where Pfizer is but this market is saying don't worry we're going to protect people until we get the vaccine which is why you have so many stocks that are doing so well," he said.
Retail Is Getting Crushed When it Comes to Job Losses
The U.S. economy added fewer-than-expected new jobs last month as private-sector and retail hiring slowed in the run-up to the key holiday shopping period and a record 4 million monthly surge in coronavirus infections.
The Bureau of Labor Statistics' November non-farm payroll report showed net new 245,000 jobs were created last month, down from the 610,000 gained last month and well shy of the Street consensus of 469,000. Average hourly earnings rose 0.3% from October to $29.49 each, taking the year-on-year gain to 4.4%.
Cramer said that he doesn't understand those estimates are concluded since retail is getting crushed and the government is not hiring at all.
What Investors Interested in Electric Vehicles Should Know
Almost 20% of Cadillac dealers have opted to accept buyouts from General Motors Company (GM) - Get General Motors Company Report rather than pay for costly upgrades needed to service and sell electric vehicles, according to a published report Friday.
The move will reduce Cadillac’s U.S. dealership count by about 150 outlets, The Wall Street Journal reported, citing people familiar with the plans.
Cramer said that CIIG Merger Corp is very good and that investors should buy some. He also added that there are a lot of stocks that don't trade the way they should.
"The supply doesn't seem to appear and the buyers don't wait for the supply so you'll see stocks going up very quickly," he said.
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