Stocks declined Monday as Wall Street monitored signs of progress on a U.S. stimulus package before the Nov. 3 presidential election.
The Dow Jones Industrial Average fell 153 points, or 0.54%, to 28,452, the S&P 500 fell 0.58% and the Nasdaq was down 0.4%.
TheStreet's Katherine Ross discussed breaking news in the stock market on Street Lightning. Cramer spoke about Boeing stock, Abbott and the deal between ConocoPhillips and Concho.
Boeing: Buy Or Sell?
American Airlines plans to let customers take trips on its Boeing 737 MAX jets as early as this year - more than 18 months after the jets were grounded.
If Boeing (BA) - Get Report gets all needed federal approvals as planned, the airline will begin passenger flights on the MAX jets just days after Christmas, American said in a statement. Customers will be able to book flights on the aircraft as early as Oct. 24.
"Based on the current plan, flights beginning Dec. 29 will be the first flights for paying customers," an American Airlines spokeswoman told TheStreet.
Cramer said this is the time to buy more Boeing. "Boeing has bottomed (out). I think this American Air Max is a very big deal. The market which has been weary should look at the TSA numbers this weekend which were over a million for the first time and realize Boeing has bottomed and you've gotta buy it."
Abbott Labs: Buy Or Sell?
Abbott Laboratories (ABT) - Get Report is expected to report net income of $1.6 billion, or 90 cents a share, on sales of $8.5 billion before the market opens on Wednesday, based on a FactSet survey of 19 analysts.
Cramer said if you're an investor Abbott is certainly right. "It's breaking out again. Remember it's got Libre 2, a fantastic diabetes glucose monitoring system."
The ConocoPhilips, Concho Deal
Concho shares were up about 1% on the news, but that comes after the jump last Wednesday of 10.2% when M&A reports first started surfacing.
But ConocoPhillips’ desire for Concho started more than a week ago. From TheStreet’s morning coverage of the deal:
“ConocoPhillips, Bloomberg reported, had been hinting about a potential deal for months. In July, Lance said the company was encouraged by the low premiums needed for acquisitions in the shale sector, citing Chevron's deal to buy Noble Energy for about $5 billion.”
Cramer said," I think these are two very disciplined companies. I have long liked Concho. Conoco has got a really good balance sheet. They are certainly doing a lot of things right but Conoco stock is down 47% for the year."
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