The Dow, S&P 500, and the Nasdaq are all up today with strong gains after the excellent retail sales were reported today. Those numbers are offsetting the rise of coronavirus cases in various states throughout the U.S. that's causing fear among traders.
TheStreet's Katherine Ross discussed today's breaking news in the stock market on StreetLightning with Cramer. Cramer spoke about the latest developments with Apple, the eBay controversy, and the retail sales numbers from May.
Apple Shares Keep Rising
Apple announced that it will open 70 stores across the U.S. in positive developments towards reopening the economy. Unfortunately, today's news also came with some negative news out of the EU as Apple faces two antitrust probes regarding Apple Pay and the App Store. Shares of Apple are up today, so traders are mostly ignoring the news. Cramer spoke about what Apple needs to do for shares to reach $400.
Cramer has advice for the EU regarding the antitrust probes involving Apple.
What Is Going on at eBay?
Some disturbing details were released yesterday about some actions by former executives at eBay. Former CEO Devin Wenig left eBay in September 2019, shortly after the discovery of an alleged stalking campaign by senior employees. The details of the harassment by ex-leaders at eBay (EBAY) - Get Report don't seem to be affecting the share price after the company was upgraded by Wells Fargo last week.
What would Cramer do if he was CEO of eBay? You're going to have to watch to find out.
Retail Sales Are Back
Retail sales gained 17.7% in May, beating expectations of an 8% gain this past month. The numbers from May are sending the markets higher today, helping offset any fears about the rising coronavirus cases being reported in several U.S. states. What do the latest retail figures mean for the stock market going into the summer?
Cramer discusses the latest retail sales numbers and what else might be helping the stock market today.
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