Stocks were wavering Thursday after the benchmark indexes set intraday records as investors looked for increased government spending and improved vaccine distribution from the Biden administration.
TheStreet's Katherine Ross and Jim Cramer discussed breaking news in the stock market. Cramer spoke about Amazon's plan to help with vaccines, FuelCell's earnings and markets on Thursday.
Amazon: Buy Or Sell?
Amazon (AMZN) - Get Report has offered president Joe Biden its help with achieving his goal of distributing 100 million Covid-19 vaccinations in his first 100 days in office. In a letter, the company said it was prepared to leverage its operations, information technology, and communications capabilities and expertise to assist his administration's vaccination efforts.
Cramer said Amazon is going to go through its all-time high. "What matters is that Amazon has not only profited through the period of the pandemic but used that money in order to make it so that they're more regular, prime is an even better buy. It's incumbent upon people to use it, I don't know how they get by without it."
FuelCell Energy: Buy Or Sell?
Power-equipment maker FuelCell Energy (FCEL) - Get Report on Thursday posted a wider than expected fourth-quarter loss of $18.9 million, or 8 cents a share, on $17 million of revenue. Analysts expected a loss of 4 cents a share on revenue of $17 million.
Markets on Thursday
Cramer said that president Biden had already committed himself to a radically new and different approach to the vaccine. "We're fractured in the way we do it and almost everybody is doing it differently. This is a national effort... it's so big we may need a public-private partnership. I am very gratified that what Biden is talking about is doing what most of us would do, which is to rely upon a history of how we have done it right."