The Dow trades higher Monday after President Trump signs executive orders to extend unemployment benefits. The S&P 500 is up slightly but the Nasdaq is down Monday as Tesla and chipmakers are down as the rising tensions between the U.S. and China continue.
TheStreet's Katherine Ross discussed breaking news in the stock market on Street Lightning with Jim Cramer. Cramer spoke about selling bank stocks, Simon Properties and Amazon teaming up, and TikTok and Twitter talk about a potential deal.
Bank Stocks: Buy or Sell?
Commercial banks have been floundering since the coronavirus pandemic began but investment banking has flourished at the same time. JPMorgan (JPM) - Get Report was upgraded by Goldman Sachs to a buy at the end of July as they like JPMorgan's potential short term returns. Cramer reviewed the bank earnings on his monthly call with Action Alerts PLUS for members and spoke about the challenges banks are facing.
The latest stimulus talks have Cramer worried about what's next for banks stocks and discusses what investors should do.
Simon Properties Stock: Buy or Sell?
Simon Property (SPG) - Get Report was one of the five things you must know in the market Monday after news came out that Amazon (AMZN) - Get Report and Simon Properties were in talks to have Amazon fulfillment centers in malls. Simon Properties is scheduled to have their quarterly financials call after the closing bell Monday and could provide more details.
Cramer discusses this potential partnership at the malls with Amazon and Simon Properties.
Twitter and TikTok Discuss Potential Partnership
Twitter (TWTR) - Get Report is entering the discussion of taking over the U.S. operations for TikTok. President Trump made it clear that Chinese operator ByteDance must sell TikTok's U.S. operations but ByteDance plans to sue Trump. Microsoft (MSFT) - Get Report was the early favorite to make a deal but it looks like that deal may be hitting a roadblock.
Cramer doesn't know if Twitter is a fit for TikTok, who once ran a similar app Vine before it shut down its operations.
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