Dow futures slip lower as stocks mixed as focus shifts to U.S. labor markets, stimulus talks following vaccine breakthroughs.
In the last episode of Mad Money, Jim Cramer that demand is what will define the next leg of the bull market. Now that COVID-19 vaccines are around the corner, everything that was put on hold during the pandemic will soon be back in vogue.
TheStreet's Katherine Ross and Cramer are talking about the UK’s approval of the Pfizer vaccine, buying Thermo Fisher, and the stimulus deal.
Pfizer Stock: Buy or Sell?
Pfizer Inc. (PFE) - Get Pfizer Inc. Report, as well as its German partner BioNTech, received the first formal approval for any globally-available coronavirus vaccine Wednesday following a nod from health officials in Britain.
The U.K.'s Medicines and Healthcare products Regulatory Agency (MHRA) agreed to the emergency use of the pair's messenger-RNA based vaccine less than a month after data from late-stage trials were published in November and an order of 40 million doses from the Boris Johnson-lead government.
Cramer said that this is “very good” news for the country U.S. that the pressure on the FDA to approve the vaccine is going to “remarkable.”
Thermo Fisher Stock: Buy or Sell?
In October, Thermo Fisher Scientific (TMO) - Get Thermo Fisher Scientific Inc. Report posted earnings and sales that blew past analysts’ expectations as the coronavirus pandemic, testing and search for a vaccine continued to drive demand for its lab equipment and services.
The Waltham, Mass.-based company posted adjusted third-quarter earnings of $2.25 billion, or $5.63 a share, vs. $1.19 billion, or $2.94 a share, in the comparable year-ago period. Analysts polled by FactSet had been expecting earnings of $4.33 a share.
Cramer said that Thermo Fisher is a company that has done a “remarkable” job in life sciences and they are “instrumental” in the process of developing new drugs. He thinks that the stock is a buy.
What Jobs Report Mean for Stimulus Talks
On Wednesday, The S&P 500 posted its second straight record close in mixed trading as House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer called for stimulus talks to begin.
The S&P 500 finished up 0.18% to 3,669, while the Dow Jones Industrial Average rose 59 points, or 0.2%, to close at 29,883. The Nasdaq, which closed at a record on Tuesday, fell 0.05% to 12,349.
Pelosi and Schumer said a $908 billion aid proposal released Tuesday from a bipartisan group of senators should serve as the basis for relief negotiations.
Cramer said that Senator Mitch McConnell is going to “wipe out” small and medium-sized businesses as he is currently blocking a stimulus deal.
“This is another reason to buy Walmart (WMT) - Get Walmart Inc. Report, Amazon (AMZN) - Get Amazon.com, Inc. Report, and Costco (COST) - Get Costco Wholesale Corporation Report because he believes in supporting big businesses,” he said.
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